Dutch AI chip startup Euclyd has raised $231 million in a Series A funding round co-led by Samsung, Somerset Capital Partners, the Scaleup Europe Fund, and Innovation Industries.

The round also saw participation from EIFO, imec.xpand, the Brabant Development Agency, and Quadri, with the former president and CEO of ASML, Peter Wennink, joining Euclyd as chairman of the board.

Founded by Bernardo Kastrup and Atul Sinha in 2024 at Eindhoven’s High Tech Campus, the company describes itself as a “semiconductor systems company developing ultra-efficient infrastructure for foundation AI models.”

At present, the company is developing a platform that it claims will break through the “efficiency wall” that exists in current compute hardware to “transform AI inference economics.”

The platform consists of two elements, ‘craftwerk’ and CWS 32, which Euclyd claims are the world’s first agentic AI silicon and the world’s lowest-power exascale AI factory, respectively.

In a statement, the startup said the financing will allow it to expand its engineering teams, accelerate its silicon and systems roadmaps, and prepare Euclyd for the commercial deployment of its offering.

“AI is becoming a foundation of economic growth, scientific discovery, and national competitiveness, but its potential will remain constrained unless we fundamentally change the infrastructure beneath it,” said Kastrup, founder and CEO. “This financing accelerates our mission to make intelligence abundant through greater efficiency, lower cost per token, and broader access to advanced AI.”