Axelera AI, a Dutch AI semiconductor start-up, has emerged from stealth with £8.7 million in seed round funding. The funding was led by Axelera's incubator company, Bitfury, a security and infrastructure provider for the Bitcoin blockchain. Nanoelectronics R&D centre imec and venture capital Innovation Industries also participated in the seed round. Axelera is developing a chipset to accelerate AI and machine learning algorithms at the edge. The startup claims that its product will use minimal power consumption at a greatly reduced price compared to its competitors.

The company covers a good range of services based on blockchain. Last year in the month of October, the company was looking into holding an IPO (initial public offering) through stock exchange listing in Amsterdam, London or Hong Kong, as per sources. Also in the same year, the company closed an 80 million U.S. Dollar funding which was led by Korelya Capital. Market analysts and experts alike think that the company has a very potent and has the capacity to touch the value of 3 to 5 billion U.S. Dollars, the moment it gets public. This is anticipated in a coming couple of years.

A syndicate of investors including Angelvest, Bitfury Group, and a consortium of cryptocurrency traders is making a $3 million equity investment to the AI application development platform Dbrain. This comes after an earlier $5 million investment from Bitfury in Dbrain's DBR token and brings total capital raised to $8 million. Dbrain #fundraising reaches an important milestone. We secured $8 million in investments from @BitfuryGroup, @AngelVestGroup and a consortium of cryptocurrency traders. Find out the details in our Medium post: https://t.co/dOlToubv1X

NEW YORK (Reuters) - U.S. technology company The Bitfury Group has formed a partnership with Insilico Medicine, a Baltimore-based medical artificial intelligence (AI) firm, to create new applications for the healthcare industry using blockchain, Bitfury's chief executive officer said on Friday. Blockchain is a digital ledger of transactions that gained prominence as the software underpinning the digital currency bitcoin. The technology, being developed in the public and private sectors, has gained attention globally for its ability to permanently record and track assets or transactions across all industries. The two companies signed a memorandum of understanding last month for collaboration to study and develop blockchain and AI solutions for sharing, managing, tracking and validating healthcare data, said Bitfury founder and CEO Valery Vavilov in an email to Reuters. The collaboration is in an early stage and there were no details available about potential projects or specific uses.

NEW YORK (Reuters) - U.S. technology company The Bitfury Group has formed a partnership with Insilico Medicine, a Baltimore-based medical artificial intelligence (AI) firm, to create new applications for the healthcare industry using blockchain, Bitfury's chief executive officer said on Friday. Blockchain is a digital ledger of transactions that gained prominence as the software underpinning the digital currency bitcoin. The technology, being developed in the public and private sectors, has gained attention globally for its ability to permanently record and track assets or transactions across all industries. The two companies signed a memorandum of understanding last month for collaboration to study and develop blockchain and AI solutions for sharing, managing, tracking and validating healthcare data, said Bitfury founder and CEO Valery Vavilov in an email to Reuters. The collaboration is in an early stage and there were no details available about potential projects or specific uses.