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Axelera AI, a Dutch startup producing chips for AI inference, has raised over $250 million, significantly backed by BlackRock and led by Innovation Industries. This funding round, which includes participation from SiteGround Capital and existing investors like Bitfury and Samsung Catalyst Fund, brings Axelera's total funding to over $450 million, making it one of Europe's best-funded chip startups.

Axelera's chips are designed for edge devices, allowing for energy-efficient AI processing locally. The company serves 500 customers in sectors such as defence and robotics and aims to scale manufacturing and commercialize its technology further. The global inference market is projected to grow significantly, underlining the demand for cost-effective AI solutions.