Dutch AI chip startup Euclyd raises $231 million in funding co-led by Samsung; former ASML CEO Peter Wennink joins as chairman.

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. Additional backers included EIFO, imec.xpand, the Brabant Development Agency, and Quadri. Peter Wennink, former president and CEO of ASML, has joined the company as chairman of the board.

Founded in 2024 by Bernardo Kastrup and Atul Sinha at Eindhoven's High Tech Campus, Euclyd describes itself as a "semiconductor systems company developing ultra-efficient infrastructure for foundation AI models." The company is building a platform designed to break through the "efficiency wall" that constrains current compute hardware, with the aim of transforming AI inference economics.

The platform comprises two core elements: 'craftwerk,' which Euclyd claims is the world's first agentic AI silicon, and CWS 32, claimed to be the world's lowest-power exascale AI factory. The financing will enable the company to expand its engineering teams, accelerate its silicon and systems roadmaps, and prepare for commercial deployment.

"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."