European AI chip startup Axelera raises additional $250 million

AMSTERDAM, Feb 24 (Reuters) - ‌Axelera AI ​has ​secured $250 million in a funding round led by Innovation Industries that included BlackRock ‌and SiteGround Capital as new investors, it said ⁠on Tuesday, marking one of the largest investments to ‌date in a European ‌AI chipmaking firm.

CEO Fabrizio Del Maffeo said in a statement the company would use the money ​to expand manufacturing of its "Europa" chip, which it plans to launch before June, and ⁠to further develop software that makes using its chips easier for customers.

Axelera, ​based in Eindhoven in the Netherlands, is one of the few companies in ​Europe that make specialised computer chips ‌for AI applications. Its energy-efficient inference chips are used in industrial settings for ⁠running, not training, AI models.

Since its founding in 2021, it has raised more than $450 million.

Previous investors including ⁠Bitfury, Verve Investments, Samsung Electronics' Catalyst Fund, the European Innovation ​Council Fund and funds backed by the Belgian and Dutch governments also participated in the latest round.

Axelera received a $66 ‌million grant in March 2025 as part of a European Union project to ‌develop an advanced chip dubbed "Titania" for use in ⁠supercomputing centres - also ‌referred to as ​AI factories. That chip is expected in 2027.

(Reporting by Toby Sterling; editing by Barbara ‌Lewis)

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