Dutch AI chip startups secure major European funding, eyeing global market

Euclyd, employing around forty staff, secured a new investment round that will fund its pursuit of AI chips that consume far less energy than current market leaders. The company’s board includes former ASML CEO Peter Wennink, highlighting strong industry ties. Fortaegis, based in Amsterdam, raised fresh funds to commercialise its cybersecurity silicon, which uses naturally occurring silicon imperfections as uncrackable encryption keys and has filed seventeen patents.

Axelera AI, also from Eindhoven, completed a large financing earlier this year to develop chips that perform AI calculations on the device itself, targeting sectors such as automotive, imaging and healthcare. Investors in these rounds are predominantly European, with notable participation from Scaleup Europe Fund, Industries, Somerset Capital Partners and others. Dutch deep-tech investors see the influx as a chance to keep cutting-edge chip technology in Europe and reduce reliance on foreign supply chains.