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Axelera AI, based in Eindhoven, Netherlands, has raised more than $250 million in a funding round led by Innovation Industries. The round included participation from BlackRock, SiteGround Capital, and existing investors, bringing total funding since 2021 to over $450 million.

The investment, claimed to be the largest ever for an EU AI semiconductor company, will support the scaling of manufacturing, expansion of customer networks, and development of software tools. Axelera focuses on edge-first AI inference solutions to meet energy and privacy demands in various industries.