Dutch AI chip startup Euclyd has raised more than €200 million in a Series A round, with Samsung, Somerset Capital Partners, EQT’s Scaleup Europe Fund and Innovation Industries co-leading the deal. Other participants included EIFO, imec.xpand, Brabant Development Agency and Quadri. Founded in 2024 and based in Eindhoven, the Netherlands, Euclyd is focused on AI inference chips and is aiming to challenge Nvidia’s dominance in inference workloads.
The company said its CRAFTWERK chip includes 16,384 custom processors and is designed to process data directly in memory. Its rack-scale product, CRAFTWERK Station, is planned to combine 32 chips and targets 1 exaflop of compute by 2028. Euclyd also said that, under specific test models, its chip efficiency could reach as much as 100 times that of Nvidia’s latest Vera Rubin chip, though the figure remains a company projection and has not yet been validated through commercial-scale deployment. The startup said it will use the new capital to expand its engineering team, speed up chip and data center system development, and advance its business with enterprise, sovereign and hyperscale cloud customers.
Dutch AI chip startup Euclyd has raised more than €200 million in a Series A round co-led by Samsung, Somerset Capital Partners, EQT’s Scaleup Europe Fund and Innovation Industries. EIFO, imec.xpand, Brabant Development Agency and Quadri also joined the financing.
Founded in 2024 and headquartered in Eindhoven, the Netherlands, Euclyd focuses on AI inference chips and is trying to challenge Nvidia’s dominance in inference workloads.
Chip design and system roadmap
The company’s CRAFTWERK chip carries 16,384 custom processors and is designed to handle data directly in memory. Its rack-scale product, CRAFTWERK Station, is planned to integrate 32 chips and targets 1 exaflop of compute by 2028.
Euclyd said that, under specific test models, its chips could deliver energy efficiency of up to 100 times that of Nvidia’s latest Vera Rubin chip. The company also said that figure is still a projection and has not been verified through commercial-scale deployment.
Use of proceeds and customer talks
The company had previously targeted at least €100 million for the round, and the final amount exceeded €200 million. Euclyd said it will use the funds to expand its engineering team, accelerate development of its chips and data center systems, and push further into enterprise, sovereign customer and hyperscale cloud service provider business.
Euclyd is currently in talks with four potential customers and expects to begin supplying two of them in 2027. Former ASML CEO Peter Wennink will also join the company as chairman.
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