Scams, both online and offline, are painful experiences when you trust someone, and they use it against you. Remember, it’s not your fault. It could have happened to anyone. Even to the most cautious individuals, especially since you can get scammed online in many ways.  These situations happen to a lot of people and don’t reflect your naivety but rather your good-willed nature.

To regain confidence after falling prey to a scam, here is what you should consider:

Acknowledge and Process the Experience

First and foremost, it’s crucial to acknowledge and process the experience. Don’t bottle up your emotions. Let them out. Allow yourself to feel the anger, frustration, or embarrassment of being scammed. However, do so in a way that doesn’t harm others.

If you take the time to research the scam used against you, you will likely find several other people who have fallen prey to it. You should know that you are not alone in this experience. Validate your feelings and seek support from truly trusted people.

Learn From the Scam Incident

Cybercriminals either use old tricks with slight alterations or devise new scams. It is crucial to learn more about fraud, how it works, and, most importantly, why you fell for it.

Was it because it seemed legitimate and appealing? Or did you simply have a hard day and weren’t attentive? By reflecting on what happened, you can better identify and avoid similar scams in the future. You may even help others and understand yourself better, which is crucial for regaining confidence and stopping self-blame.

Seek Support After a Scam

Your family, friends, or support groups can be crucial to your emotional recovery. It’s hard to believe anyone can go through life without being scammed or tricked once. After some time, you will be able to laugh about the incident.

Sharing your experience can help to quicken it. Talking to others can also alleviate any sense of isolation or shame you might be feeling.

Take Action Against The Scammers

It is natural to feel shame after being scammed. However, you should keep it from taking over and prevent you from acting against the scammers. Report the incident to the relevant authorities and explore options to recover lost funds and decrease the damage.

Remember, you might feel like you are the only one who got scammed this way and may feel judgment from others. At the end of the day, millions of people get scammed online, and no one has the right to judge you, especially authorities.

They must perform their duty and catch the culprits. They handle many similar cases so that you won’t stand out. Remember, there is no reason to feel ashamed, so take action and don’t let the scammers get away with it so easily.

Enhance Your Cybersecurity

Depending on what type of online scam you were subjected to, you should focus on strengthening your cybersecurity. You can prevent future incidents by boosting your online defenses and learning from past mistakes.

Here are some ways to do that:

1. Be cautious of public Wi-Fi and Obscure Websites

Public Wifis are notoriously unsafe. You cannot tell who can intercept your data or spy on your online activities. Because of this, you should be careful when connecting your device. Always use a VPN to mask your IP address and encrypt data.

The websites you visit collect various data about you. If the website is breached, bad actors may have access to that information. Then, cybercriminals can use your personal information against you, tailor their scam to your interests, and increase their likelihood of success.

You should always use a VPN to reduce your chances of becoming a cybercrime victim. A VPN can boost your online security and enhance your privacy. When you use it, criminals will find it increasingly difficult to intercept your data and activities. If you use a proxy extension, you might achieve similar results. Though, with a VPN, you get additional perks and features.

2. Install a reliable antivirus and anti-malware software

Malware and viruses can cause severe financial damage. Opt for premium antivirus and anti-malware software to protect your devices and receive alerts about cyber threats.

3. Enable two-factor authentication

You should always use two—or multiple-factor authentication for your online accounts when possible. This extra layer of security can make a huge difference even if someone gains access to your account credentials.

4. Use a secure password manager

It’s easy to become comfortable with your passwords, especially when you use the same online credentials on all platforms. But it can take only one breach to put all your accounts at risk. Instead, opt for strong passwords and use a trusted password manager to track them all.

Stay vigilant and informed

Online scams are constantly changing. However, you can stay ahead of the game by remaining informed and vigilant. If you get scammed, your report and resolution will help others protect themselves and expose the scammers, which can also help you regain your confidence.

How Bad Do You Want It (Official Lyrics) Fearless Motivation, Pendo46, R Reed

Listen to the song “HOW BAD DO YOU WANT IT” now, on Spotify, Apple Music, Deezer, Amazon or YouTube Music

How Bad Do You Want It – Official Lyric Video – Fearless Motivation – WATCH:

They try to make you smaller, I try to show you temperanceThey try to make a dollar, I try to make a difference

How bad do you want it when you see it in the distanceWhen reaching’s not enough but you still need it by extension

I mean WHY? Do you not attempt to TRY?Cause they said that you can’t fly? So you’ve never seen the sky!No matter how much you can cry – take those words as just a lie!If it all comes down to pride then their thoughts get deniedDon’t hide

How bad do you want it?How bad do you want it?How bad do you want it?So when’s enough enough?How bad do you want it?How bad do you want it?How bad do you want it?You need to toughen up!

This’ not… the part… to quitDon’t think… Just doThis hurt… This pain… This grit…You hold on to that feelingNot happy with what I’ve done to getI guess that’s the point of this

Add to the confidence that leads to accomplishmentsFeeds into consciousness can’t take the consequenceSpeaks to the dominanceI need it like a son needs a fatherIf its not accessible that means i just reach further

How bad do you want it?How bad do you want it?How bad do you want it?So when’s enough enough?How bad do you want it?How bad do you want it?How bad do you want it?You need to toughen up!How bad? BAD!How bad? BAD!How bad? BAD!There’s nothing stopping you!How bad? BAD!How bad? BAD!How bad? BAD!Do what you got to do!

Go off like a jet packStress stackedNot there? check backLater hit hard get more impactSmile at the test uhh that’s what the grins forWin more cut through grips like a pincerThis’ for the outlaws rebels resistThat’s not with the plan won’t stand and assist

I need it like a boater needs fishLike a fighter needs a fistLike a light needs a switch

Look at this

How bad do you want it?How bad do you want it?How bad do you want it?So when’s enough enough?How bad do you want it?How bad do you want it?How bad do you want it?You need to toughen up!How bad? BAD!How bad? BAD!How bad? BAD!There’s nothing stopping you!How bad? BAD!How bad? BAD!How bad? BAD!Do what you got to do!

Move as if you need it like a heart thumpBeating from your spirit so loud it’s like a hard drumBoom boom boomWhat’s the journey with no outcome?Rather have a mission than to walk around without one

Don’t get used to the shelter adapt to the weatherYou should never settle you know you can do betterI’m coming like a star fell cometSo of you not fighting for it how had do you want it?

Heroes (Lyrics) Fearless Motivation Ft. The Julianno

Listen to the song “HEROES” now, on Spotify, Apple Music, Deezer, Amazon or YouTube Music

Heroes (Lyrics) Fearless Motivation Ft. The Julianno – WATCH:

This is where I amI am just one manCan I save the day?I carry myselfbut I still need helpTrying to find my way

I can’t flyI have no capeI feel smallbut called for GREAT

What are heroes made ofAre they just like me?

Baring cracks and flaws with two clumsy feet?

Or should I first find my wayBefore I can save the day?

What are heroes made of?What are heroes made of?

This is where WE standA woman or a manIn a world that bleeds

Tears would fill your eyesUnless you choose to hideFrom what we’d seeNo NEED to flyNo NEED for capesWE’RE NOT SMALLWE’RE called for GREAT

What are heroes made ofAre they just like me?Baring cracks and flaws with two clumsy feet?Or should I first find my wayBefore I can save the day?What are heroes made of?What are heroes made of?

Five years ago, the concept of leading a 100% virtual company seemed unreal to me. Yet today, SUCCESS Enterprises supports team members across three continents, five countries and six time zones. For many of our team members, the digital nomadic lifestyle has become a norm, with some people relocating every few months. This unique environment presents challenges that require a shift in the virtual leadership approach. We are forced to get creative to foster a cohesive company culture, communicate and collaborate effectively and monitor productivity and deliverables efficiently. 

Here are some of the ways SUCCESS Enterprises has addressed these challenges:

Creating a cohesive company culture

Creating a cohesive company culture when team members are spread across the globe requires deliberate effort. At SUCCESS Enterprises, we’ve dedicated days to workshopping and co-creating the company we want to work for. This involved defining our company mission, vision and values and adjusting our customer avatars and value delivery systems accordingly.

Additionally, we organize virtual company parties and host regular “watercooler” discussions to facilitate relationship-building among co-workers. We also schedule four quarterly business meetings per year, with two being physical events for those who can attend in person. We prioritize recognizing achievements, anniversaries and special events to foster a sense of belonging and appreciation among our team members.

Effective communication and collaboration

While tools like Slack are invaluable for daily communication, we place a high priority on face-to-face and voice-to-voice interactions via Zoom, Google Meets and WhatsApp. Being able to see and hear each other helps prevent misunderstandings and ensures clarity of intent.

Culturally, we reinforce trust-building and transparency through open and vulnerable conversations. We also encourage “right now” feedback to address communication issues promptly and prevent them from festering over time.

Managing work hours

Managing work hours around the world is undoubtedly complex. Virtual leadership and supporting digital nomads requires flexibility and adaptability from all team members. While we primarily operate on U.S. Central Time, we embrace a culture of trust and autonomy, allowing digital nomads to work flexibly while meeting project deadlines and event timelines.

Monitoring productivity, priorities and deliverables

We use tools like Monday for project management, but as part of virtual leadership, we also hold quarterly companywide collaboration sessions to prioritize projects, assign project leads and establish accountability metrics. More recently, we’ve also found success in appointing a single project manager to oversee progress in all initiatives and campaigns on a weekly basis, ensuring alignment and efficiency across the board.

While leading a virtual company comes with its challenges, embracing flexibility, transparency and communication is essential and has allowed us to successfully navigate the complexities of remote work and embrace the opportunities it presents for growth and innovation.

Until next time,

Amy Somerville, CEO of SUCCESS Enterprises

Photo by @Mike D’Avello.

US Internet providers must now display clear pricing and product information. HP Ink controversy continues to stain the company’s reputation with consumers. Is the EU’s competition legislation working? Early numbers seem to show it might be. And there’s a 10 million dollar bet that Elon Musk is wrong about AI.

All this and more on the “all bets are off” edition of Hashtag Trending. I’m your host, Jim Love. Let’s get into it.

New regulations from the Federal Communications Commission have taken effect yesterday, mandating that all broadband internet service providers clearly display labels detailing the prices, speeds, data caps and other key information about their service plans.

The rules are aimed at helping consumers make more informed choices by requiring ISPs to disclose this data in a simple, standardized format akin to nutrition labels on food products.

In addition to fees charged, the labels must also now list any monthly data caps or overage fees, upfront costs like equipment rental fees, a provider’s customer service contact information, and any other plan limitations like throttling policies.

Despite this progress, consumer advocacy group Next Century Cities   continued to push for even more information, saying that these broadband “nutrition labels” often overstate the real-world speeds customers can expect or obscures caps and fees.

Speaking to the FCC last month, one group urged that in addition to maximum speeds, the labels should show the average speeds users actually experience, as estimates of “typical” speeds are frequently overly optimistic.

While comprehensive, some experts warn the amount of required disclosures could overburden smaller ISPs with limited resources compared to industry giants. For now, only providers with more than 100,000 subscribers must comply and smaller providers have been given an additional year to comply.

The FCC is still gathering feedback on whether to mandate the display of promotional pricing periods and expiration dates, as well as taxes and fees beyond the base rate.

Next Century Cities is further advocating for a streamlined complaint process to report issues like digital discrimination in broadband deployment to the commission.

With the labeling rules now in place, the hope is that customers will be better equipped to comparison shop for broadband and avoid being misled about the true costs and capabilities of different internet packages.

Sources include: ArsTechica, Engadget, and BroadbandBreakfast

Of all of the emails I get about stories, the HP printer issue is near the top of the list. People write me, with their frustrations. And it turns out, they take these to the courts as well.

Printer owners are pushing back against HP Inc. in an ongoing class action lawsuit over firmware updates that allegedly disabled their devices from using third-party ink cartridges.

In a filing this week in an Illinois court, the plaintiffs accused HP of using software changes to monopolize the replacement ink market and “take advantage of customers’ sunk costs” in HP printers.

The consumers claim that despite never agreeing to only use HP-branded ink, recent firmware updates prevented their printers from accepting more affordable third-party cartridges.

They allege HP violated several anti-competitive statutes through this “tying scheme” accomplished via unauthorized software changes solely aimed at blocking rival ink suppliers.

The plaintiffs are seeking damages covering the cost of now-useless non-HP cartridges, as well as an injunction forcing HP to undo the firmware lockout.

For its part, HP insists it went to “great lengths” to inform buyers that its printers are designed to exclusively use HP cartridges containing security chips.

The company says the updates represent legitimate “dynamic security” measures to combat counterfeit ink, and that it does not conceal or block remanufactured cartridges reusing official HP chips.

HP also argues the plaintiffs cannot claim overcharge damages from the manufacturer under federal antitrust laws when they purchased through intermediaries.

As printer makers increasingly push subscription models, the controversy highlights long-standing tensions over the high costs of proprietary ink replacements versus third-party alternatives.

The bitter legal battle seems primed to further antagonize HP’s customer base over what critics condemn as anti-competitive practices designed to sustain lucrative ink sales.

Sources include: The Register

We’ve done a number of stories on legisltation and regulation from the EU that is aimed at increasing customer choice and promoting real competition. Is it working? In one case it seems to have had an impact.

It turns out that some alternative web browsers are reporting an uplift in user interest and downloads in the European Union following the recent enforcement of a new digital regulation called the Digital Markets Act or DMA.

The landmark rules, which took effect last month, require dominant tech gatekeepers like Apple and Google to present mobile users with choice screens displaying alternative browsers and other core apps.

The goal is to shake up competition against pre-installed defaults and make users more aware of their options beyond Safari on iOS or Chrome on Android.

While it’s still very early days, several smaller browser makers have already shared positive metrics pointing to increased attention from EU users.

Norway’s Opera says new user growth was up 63% from February to late March, while fellow Norwegian browser Vivaldi reports a 36.7% jump in EU downloads, rising to nearly 70% in the eight countries where it appears on Apple’s choice screen.

The privacy-focused Brave browser also cited a doubling of daily iOS installs in the EU compared to pre-choice screen levels.

And little-known Cyprus-based rival Aloha claimed to have seen 250% growth in new users as it jumped from the 4th to 2nd biggest EU market.

However, not all alternative browsers are seeing clear gains yet. Veteran players like Mozilla’s Firefox, DuckDuckGo and Ecosia say it’s too early to accurately assess the DMA’s impact as choice screen rollouts are still ongoing, although some claim that these browsers are purposely holding back from reporting success because they want to keep the pressure on to make the choices even more clear and easier to adopt.

For example, the are complaints that Apple’s iOS implementation in particular has significant design flaws hampering users’ ability to make meaningful choices about switching browsers.

The European Commission has open investigations into suspected cases of improper compliance by the tech giants, including Apple’s choice screen methodology.

With this continued pressure from the largest alternative browsers, and given the EUs track record, it is likely they will be monitoring closely to ensure dominant gatekeepers are genuinely opening their platforms to greater competition and consumer choice as intended.

Sources include: TechCrunch

Some tech industry CEOs are putting their money where their skepticism is when it comes to Elon Musk’s ambitious predictions about artificial intelligence surpassing human intelligence in the next few years.

During a recent interview, the billionaire claimed AI will likely exceed the cognitive capabilities of any single human by the end of 2024, with AI as a whole outstripping the combined intelligence of all humans within just five years.

But those bold forecasts are being met with raised eyebrows and big bets from some AI experts who view Musk’s timeline as wildly unrealistic.

Gary Marcus, CEO of machine learning startup Geometric Intelligence, publicly offered up $1 million to anyone, including Musk, who can prove him wrong.

That prompted Damion Hankejh, CEO of ingk.com, to raise the stakes even further, saying he’d cover a $10 million wager against Musk’s AI predictions coming true.

Marcus said Musk has not responded to the million-dollar challenges yet, but added the Tesla CEO has previously ignored Marcus’ smaller $100,000 bet that artificial general intelligence was not actually imminent, as Musk claimed.

For Marcus, the bets are about more than just money. He wants to spark a public discussion with Musk about what artificial intelligence can realistically achieve in the near-term versus the almost utopian promises that have become common from tech leaders.

Marcus argues many in the industry have a track record of making scientifically implausible claims and missing self-imposed deadlines, pointing to the ongoing challenges with self-driving cars as one example.

While large language models have made rapid advances, Marcus contends the notion they could exceed human-level general intelligence within just a couple of years is fanciful, estimating that milestone may still be decades away.

As CEOs literally gamble over contrasting AI outlooks, the high-stakes bets underscore an intensifying debate over whether too much hype is obscuring the real state and timeline of artificial intelligence development.

I don’t know. Just this once and only once. I’m putting my money on Elon being right.

As always, love to hear what you might think.

And that’s our show for today…

Thanks for those who’ve written in with comments including the person who wrote me about their trials and tribulations HP printers and ink purchases.

Keep it coming.  And don’t forget, you can find us on YouTube now. If you check us out there, please give us a like or even a subscribe as we try to build and audience there as well.

I’m your host Jim Love, have a Fantastic Friday.

Vidyard, a popular video messaging company, has recently announced its entry into the virtual digital avatar market and secured new funding of $15M from Export Development Canada (EDC), BMO Capital Partners, and existing investors Battery Ventures, Bessemer Venture Partners, and iNovia Capital. This brings the company’s total funding to $90.7M.

According to Gartner Research, AI avatars using generative AI technology will support 70% of digital and marketing communications by 2025, up from less than 5% in 2022. The AI avatar market is valued at USD 14.34B in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 47.1% from 2023 to 2030. The growth is driven by increased demand for remote collaboration tools, customer preferences for video content in corporate communications,  hybrid work environments, and advancements in video streaming technology.

Jonathan Lister, Chief Operating Officer at Vidyard says “the increasing demand for authentic and personalized characters for online interactions by companies from various industries is opening up a future where AI-powered video communications can become the cornerstone of productive connections between sellers and buyers.”

Vidyard’s advantage over leading AI video and avatar providers, such as Synthesia, HeyGen, and Tavus, is that its products are embedded in a sales workflow, making it easy to create personalized videos and send them to buyers all within the sales ecosystem. Market leaders like Microsoft, Marketo, and Hubspot are already using Vidyard.

Hubspot’s VP of Platform Ecosystem, Scott Brinker, who has been testing Vidyard’s AI Avatar platform, says that “Virtual avatars will address a lot of critical pain points for HubSpot users, including the stage fright associated with traditional video recording, the massive amount of time it takes to get them ‘right,’ the difficulty of finding the right place and time to do it, and the fact that it’s rarely their top priority.”

In a recent customer survey by GTM Partners, Vidyard found that when video was added, sales funnel performance increased by 85%, four to five times more meetings were booked. In addition, two to four times more sales-qualified opportunities were generated. This resulted in a 25% increase in close rates.

According to Gartner, AI’s capability to help sellers engage more effectively with prospects and customers and to do so at scale by automating labor-intensive tasks is one of the most valuable contributions to using AI in sales.  As communications continue to shift in customer preferences, virtual avatars are making it extremely easy for sales and marketers to get messages out highly personalized and improve customer and buyer interactions.

Kelvin Beachum, a National Football Athlete of the Arizona Cardinals, has found Vidyard’s virtual avatar technology useful. He says “AI technology is just beginning to crack the surface of its capabilities. For me, time is money. As an organization, we are always trying to be efficient with our time to accomplish as much as possible at a high level. Using AI for efficiency allows for a high-velocity workflow of my daily operations, and I am excited to continue implementing it.”

Lister says “B2B buying and selling is fundamentally broken. Buyers want timely and relevant information and automation that helps simplify their complex buying journey. While the sellers struggle to build meaningful relationships, communicate with an ever-increasing number of stakeholders, and deliver high-quality insights given the limitations of current sales technology.”

As this market continues to unfold, there is a need to keep a vigilant eye on deep fakes and the increasing risks of video communication. Stanford has released guidelines on digital communication ethics to help mitigate deep fake risks.

The roles will help drive some of the group’s most important technology projects including new customer features on digital channels, protecting customers against fraud, and advanced data analytics.

Read more: Bank of Ireland announces creation of 100 new technology jobs

As AI boosts demand for more data storage, Europe is considering sending data centres into space — and the plan is not as outlandish as it may first appear.  

A 16-month, €2 million study has concluded that space-based data centres are technically, economically, and environmentally feasible. 

Thales Alenia Space and Leonardo coordinated the ASCEND study, which was funded by the EU. The research also tapped expertise from the likes of Airbus, ArianeGroup, and the German Space Agency. 

“Deploying data centres in space could transform the European digital landscape, offering a more eco-friendly and sovereign solution for hosting and processing data,” said Christophe Valorge, chief technical officer at Thales Alenia Space.  

The <3 of EU tech

The latest rumblings from the EU tech scene, a story from our wise ol’ founder Boris, and some questionable AI art. It’s free, every week, in your inbox. Sign up now!

The ASCEND team aims to deploy 13 space data centre “building blocks” with a total capacity of 10MW in 2036. The overall goal is to achieve 1GW of storage by 2050, project manager Damien Dumestier told CNBC. 

The space-based data centres would orbit Earth at an altitude of around 1,400km, three times higher than the International Space Station (ISS).

The hidden environmental costs of AI

In May, Google added a new feature to its search engine that produces AI-generated summaries to queries. Other than regularly spewing out factually incorrect information, AI Overviews comes with a hidden cost: it uses up to 10 times more energy than a traditional Google search.

Digitisation, and more specifically the rise of AI, is skyrocketing demand for data storage. The electricity demand for data centres is now outpacing electricity supply in some parts of the world. Many of these facilities are still powered by fossil fuels.  

The EU launched ASCEND to compare the environmental impacts of space-based and Earth-based data centres, as it looks to catch up with the US and China in data storage capacity. 

Unlike their land-cased counterparts, data centres in space could be powered by 24/7 solar energy. They also wouldn’t require water for cooling — because space is really, really cold.  

However, the study also found that for space-based data centres to make sense environmentally, a new type of launcher that produces 10 times less emissions would need to be developed. The data centres would also have to use rocket fuel to stay in orbit, which would most definitely cut into its green credentials. 

ArianeGroup is working on a eco-launcher that could take care of the launch emissions. However, scientists are still a long way off from producing a sustainable, cost-effective alternative to rocket fuel.

Nevertheless, given the energy and land constraints back on Earth, setting up data centres in space may be a moonshot worth taking.

Accenture Song’s Iman El Sayed talks about the AI and automation ‘rollercoaster’ and how she sees it affecting UX design.

Read more: Automation and UX: Designing with disruptive tech

Eindhoven-based startup Axelera has raised $68mn as it looks to take its AI chip business global. One of the lead investors is Samsung Catalyst, the venture arm of semiconductor giant Samsung Electronics.  

Axelera is developing chips, known as AI processing units (AIPUs), that enable computer vision and generative AI in devices like robots and drones. The chips facilitate so-called edge AI — when AI models are deployed inside devices, instead of linking to them via the cloud.  

Axelera builds the AIPUs as well as the software that runs them. Dubbed Metis, the startup claims that it is the world’s most powerful AI chip for edge devices.

The AI chips are, in effect, tiny data centres located within the device. By negating the need to upload or download data to a centralised cloud server, the chips speed up data processing. They also minimises energy use. 

What’s more, Axelera leverages what’s known as in-memory computing. That’s when data is stored in the main memory (RAM) instead of on traditional disk storage. This makes for even faster data processing and retrieval. 

The startup’s chips thus deliver high computing performance at a fraction of the cost and energy consumption of centralised AI processing units, said the startup.   

“To truly harness the value of AI, organisations need a solution that delivers high-performance and efficiency while balancing cost,” said Fabrizio Del Maffeo, co-founder and CEO at Axelera AI. 

Axelera claims it has built the world’s most powerful AI processing unit for edge devices. Credit: Axelera
Democratising AI 

Axelera’s chips make use of the instruction set architecture (ISA) RISC-V. An ISA acts like a bridge between the hardware and the software. It specifies both what the processor is capable of doing as well as how it gets done. 

RISC-V is a low-cost, efficient, and flexible ISA that can be customised to specific use cases. Crucially, unlike most ISAs, it is open source, which means no single entity controls it.

“Our mission is to democratise access to artificial intelligence,” said Del Maffeo. 

By specialising in edge AI, and developing both the software and hardware components, Axelera looks to give itself a competitive edge in a booming AI chip market dominated by the likes of Nvidia, Intel, and IBM. 

Speaking of IBM, Del Maffeo, who previously worked at Belgium-based tech lab Imec, co-founded Axelera alongside Evangelos Eleftheriou, a former veteran at the American tech giant.   

Axelera plans to put its AI processing units into full production in the latter half of this year. It looks to expand its presence in North America, where it already has an office, and into new industries such as automotive, digital healthcare, and surveillance. The startup is also exploring the development of high performance AI chips for data centres and supercomputers. 

Hailing from Eindhoven, Axelera exists in one of the most mature semiconductor tech hubs in the world. The city is home to Philips-founded NXP Semiconductors and ASML, which produces chip-making machines for almost every major semiconductor manufacturer on Earth. 

This latest funding round brings Axelera’s total raised to $120mn. New investors include the Samsung Catalyst Fund, European Innovation Council Fund, Innovation Industries Strategic Partnership Fund, and Invest-NL.