EUCLYD has raised more than 200 million euros in a Series A funding round to develop AI processors and data center systems. The Eindhoven-based chip developer aims primarily to reduce energy and memory consumption when running large AI models.
Samsung, Somerset Capital Partners, the Scaleup Europe Fund managed by EQT, and Innovation Industries are leading the investment round. EIFO, imec.xpand, the Brabant Development Agency (BOM), and Quadri are also participating. Peter Wennink, former CEO of ASML, will become non-executive chairman of EUCLYD.
EUCLYD’s funding comes shortly after other major investments in Dutch chip companies. Amsterdam-based Fortaegis announced Monday that it had raised $50 million in new capital. Earlier this year, Eindhoven-based AI chip developer Axelera AI raised $250 million.
Bernardo Kastrup and Atul Sinha founded the company, which is based at the High Tech Campus in Eindhoven. With the new capital, EUCLYD aims to expand its engineering team, accelerate processor and system development, and work toward commercial applications.
Lower energy consumption for AI inference
EUCLYD is addressing a problem that is becoming increasingly critical as large AI models are rolled out. Computing power is increasing, but so are energy consumption, memory bandwidth, and infrastructure costs. The company believes it can make a difference by co-designing processors, memory, and data center systems.
To this end, EUCLYD is developing a platform featuring programmable ASIC processors and its own memory architecture. The company is focusing primarily on AI inference, the actual use of trained models. The goal is to reduce the amount of energy and infrastructure required for this process and, in turn, lower the cost per processed token.
A key component of the roadmap is Craftwerk, which EUCLYD describes as a chip system for agentic AI. The company is also developing Craftwerk Station (CWS), a system designed to process AI workloads at the exascale level. EUCLYD claims that this system consumes significantly less energy than existing infrastructure. Concrete, independent benchmarks supporting these performance claims are not yet available.
Wennink joins EUCLYD
With Wennink’s arrival, EUCLYD brings a wealth of experience from the European chip industry. He served as CEO of ASML from 2013 to 2024. According to Wennink, the company can benefit from European expertise in semiconductors, advanced manufacturing, and systems engineering.
EUCLYD ultimately aims to offer its technology to companies, governments, and other institutions that want to operate their own AI infrastructure, as well as to hyperscalers. The company has not yet disclosed in the announcement when the first systems will become commercially available.