Euclyd secures €200m Series A funding with backing from Samsung and EU Scaleup Fund

Euclyd, a Dutch startup focused on creating infrastructure to enhance AI efficiency, has successfully raised €200m in a Series A funding round. The investment saw contributions from Samsung, through its Catalyst Fund, and the European Investment Bank, via the EU Scaleup Fund.

Additionally, Peter Wennink, the former CEO of ASML, has been appointed as the new chairman of Euclyd's board of directors.

The company secured €200m in its Series A funding round. The EU Scaleup Fund, which participated in the investment, is backed by the European Investment Bank and the European Investment Fund (EIF).

Euclyd is a Dutch startup. Christophe Dupouey is identified as a co-founder of the company. Peter Wennink, previously the CEO of semiconductor equipment manufacturer ASML, has joined Euclyd as the chairman of its board.

The funding round was led by Samsung's Catalyst Fund and included investment from the European Investment Bank.

As AI systems become more complex and widespread, they consume increasing amounts of energy and resources. Euclyd addresses this challenge by developing infrastructure designed to make AI operations more efficient, thereby reducing their environmental impact and operational costs.

The company aims to create a new paradigm for AI infrastructure, enabling the deployment of AI models with reduced energy consumption and improved performance. This approach is particularly relevant given the growing concerns about the sustainability of large-scale AI deployments.

With the new funding, Euclyd plans to scale its operations and expand its team. The capital will also be used to further develop its technology, which focuses on optimising AI processing and data centre efficiency.