AxeleraAI Becomes Europe's First EIC Unicorn
AxeleraAI raised EUR 250M to become Europe's first EIC unicorn, while ScienceCorp secured $230M for brain implant technology. Total crypto funding year-to-date has reached approximately $2.5B despite the recent slowdown. India also approved ₹10,000 crore fund-of-funds for startups to boost the ecosystem during the funding winter.
The Netherlands-based AxeleraAI develops next-generation AI acceleration hardware for edge computing. Its "edge-first" architecture is designed to deliver high AI performance within the strict energy and thermal limits of real-world devices, addressing critical power consumption challenges faced by data centers. The company has already shipped its solutions to over 500 customers in sectors like manufacturing, retail, and robotics. The European Innovation Council (EIC), which backed AxeleraAI, was established under the Horizon Europe program with a budget of €10.1 billion. Its mission is to support high-risk, game-changing innovations from early-stage research through to the scaling up of startups and SMEs, strengthening Europe's global competitiveness in deep-tech. ScienceCorp was co-founded by Max Hodak, who was also a co-founder of Neuralink. The company's PRIMA retinal implant is a brain-computer interface (BCI) that has successfully restored the ability to read in patients blinded by advanced macular degeneration during clinical trials. The technology combines a subretinal implant with camera-equipped glasses to restore functional vision. With the new funding, ScienceCorp is pursuing a CE mark for the PRIMA implant in the European Union, with approval anticipated by mid-2026. The company is also in discussions with the U.S. FDA, aiming to become the first BCI company with a product on the market and to transition from a research startup to a commercial-stage medical tech leader. India's ₹10,000 crore (approx. $1.2 billion) fund is the second iteration of the Fund of Funds for Startups (FFS). The original FFS was launched in 2016 as part of the Startup India Action Plan to provide domestic capital to early-stage ventures through government participation in privately managed venture funds. The slowdown in crypto funding reflects a broader shift in investor sentiment. Venture capitalists are now more cautious, prioritizing projects with clear revenue, user growth, and the ability to withstand market downturns over those with just a narrative. February 2026 saw crypto startups raise $883 million, a 13% decline compared to the same period in the previous year.
