Boot from prebuilt image hangs with systemd error message

I have downloaded the prebuilt image for GSRD 14.1 for Arrow SoCkit and loaded it on a SD card. The FPGA configuration is loaded, the kernel boots fine, but after the Message ‘Welcome to The Angstrom Distribution!’, a few systemd error messages pop up and the whole system hangs.

This is the boot output:

U-Boot SPL 2013.01.01 (Feb 27 2015 - 08:12:46)
BOARD : Altera SOCFPGA Cyclone V Board
CLOCK: EOSC1 clock 25000 KHz
CLOCK: EOSC2 clock 25000 KHz
CLOCK: F2S_SDR_REF clock 0 KHz
CLOCK: F2S_PER_REF clock 0 KHz
CLOCK: MPU clock 925 MHz
CLOCK: DDR clock 400 MHz
CLOCK: UART clock 100000 KHz
CLOCK: MMC clock 50000 KHz
CLOCK: QSPI clock 370000 KHz
SDRAM: Initializing MMR registers
SDRAM: Calibrating PHY
SEQ.C: Preparing to start memory calibration
SDRAM: 1024 MiB

U-Boot 2013.01.01 (Feb 03 2015 - 15:18:22)

CPU   : Altera SOCFPGA Platform
BOARD : Altera SOCFPGA Cyclone V Board
I2C:   ready
DRAM:  1 GiB
*** Warning - bad CRC, using default environment

In:    serial
Out:   serial
Err:   serial
Skipped ethaddr assignment due to invalid EMAC address in EEPROM
Net:   mii0
Warning: failed to set MAC address

Hit any key to stop autoboot:  0 
reading u-boot.scr
200 bytes read in 4 ms (48.8 KiB/s)
## Executing script at 02000000
reading soc_system.rbf
2330213 bytes read in 115 ms (19.3 MiB/s)
## Starting application at 0x3FF79550 ...
## Application terminated, rc = 0x0
reading zImage
3438544 bytes read in 167 ms (19.6 MiB/s)
reading socfpga.dtb
22165 bytes read in 7 ms (3 MiB/s)
## Flattened Device Tree blob at 00000100
   Booting using the fdt blob at 0x00000100
   Loading Device Tree to 03ff7000, end 03fff694 ... OK

Starting kernel ...

Booting Linux on physical CPU 0x0
Initializing cgroup subsys cpuset
Linux version 3.10.31-ltsi-02861-g801a40f (ubuntu@ip-172-31-18-78) (gcc version 4.8.3 20131202 (prerelease) (Linaro GCC 4.8-2013.124
CPU: ARMv7 Processor [413fc090] revision 0 (ARMv7), cr=10c5387d
CPU: PIPT / VIPT nonaliasing data cache, VIPT aliasing instruction cache
Machine: Altera SOCFPGA, model: Altera SOCFPGA Cyclone V
Memory policy: ECC disabled, Data cache writealloc
PERCPU: Embedded 8 pages/cpu @80f48000 s11200 r8192 d13376 u32768
Built 1 zonelists in Zone order, mobility grouping on.  Total pages: 260096
Kernel command line: console=ttyS0,115200 root=/dev/mmcblk0p2 rw rootwait
PID hash table entries: 4096 (order: 2, 16384 bytes)
Dentry cache hash table entries: 131072 (order: 7, 524288 bytes)
Inode-cache hash table entries: 65536 (order: 6, 262144 bytes)
Memory: 1024MB = 1024MB total
Memory: 1032028k/1032028k available, 16548k reserved, 0K highmem
Virtual kernel memory layout:
    vector  : 0xffff0000 - 0xffff1000   (   4 kB)
    fixmap  : 0xfff00000 - 0xfffe0000   ( 896 kB)
    vmalloc : 0xc0800000 - 0xff000000   (1000 MB)
    lowmem  : 0x80000000 - 0xc0000000   (1024 MB)
    modules : 0x7f000000 - 0x80000000   (  16 MB)
      .text : 0x80008000 - 0x806693cc   (6533 kB)
      .init : 0x8066a000 - 0x806bcbc0   ( 331 kB)
      .data : 0x806be000 - 0x806f9c10   ( 240 kB)
       .bss : 0x806f9c10 - 0x807395f4   ( 255 kB)
SLUB: HWalign=64, Order=0-3, MinObjects=0, CPUs=2, Nodes=1
Hierarchical RCU implementation.
NR_IRQS:16 nr_irqs:16 16
sched_clock: 32 bits at 100MHz, resolution 10ns, wraps every 42949ms
Console: colour dummy device 80x30
Calibrating delay loop... 1836.64 BogoMIPS (lpj=9183232)
pid_max: default: 32768 minimum: 301
Mount-cache hash table entries: 512
CPU: Testing write buffer coherency: ok
ftrace: allocating 17628 entries in 52 pages
CPU0: thread -1, cpu 0, socket 0, mpidr 80000000
Setting up static identity map for 0x804b9900 - 0x804b9958
CPU1: Booted secondary processor
CPU1: thread -1, cpu 1, socket 0, mpidr 80000001
Brought up 2 CPUs
SMP: Total of 2 processors activated (3679.84 BogoMIPS).
CPU: All CPU(s) started in SVC mode.
devtmpfs: initialized
NET: Registered protocol family 16
fpga bridge driver
DMA: preallocated 256 KiB pool for atomic coherent allocations
L310 cache controller enabled
l2x0: 8 ways, CACHE_ID 0x410030c9, AUX_CTRL 0x32460000, Cache size: 524288 B
syscon ffd08000.sysmgr: regmap [mem 0xffd08000-0xffd081ff] registered
syscon ffd05000.rstmgr: regmap [mem 0xffd05000-0xffd050ff] registered
syscon ff800000.rl3regs: regmap [mem 0xff800000-0xff800fff] registered
syscon ffc25000.sdr-ctl: regmap [mem 0xffc25000-0xffc25fff] registered
hw-breakpoint: found 5 (+1 reserved) breakpoint and 1 watchpoint registers.
hw-breakpoint: maximum watchpoint size is 4 bytes.
altera_hps2fpga_bridge fpgabridge.2: fpga bridge [hps2fpga] registered as device hps2fpga
altera_hps2fpga_bridge fpgabridge.2: init-val not specified
altera_hps2fpga_bridge fpgabridge.3: fpga bridge [lshps2fpga] registered as device lwhps2fpga
altera_hps2fpga_bridge fpgabridge.3: init-val not specified
altera_hps2fpga_bridge fpgabridge.4: fpga bridge [fpga2hps] registered as device fpga2hps
altera_hps2fpga_bridge fpgabridge.4: init-val not specified
bio: create slab <bio-0> at 0
FPGA Mangager framework driver
SCSI subsystem initialized
usbcore: registered new interface driver usbfs
usbcore: registered new interface driver hub
usbcore: registered new device driver usb
pps_core: LinuxPPS API ver. 1 registered
pps_core: Software ver. 5.3.6 - Copyright 2005-2007 Rodolfo Giometti <>
PTP clock support registered
Switching to clocksource timer
NET: Registered protocol family 2
TCP established hash table entries: 8192 (order: 4, 65536 bytes)
TCP bind hash table entries: 8192 (order: 4, 65536 bytes)
TCP: Hash tables configured (established 8192 bind 8192)
TCP: reno registered
UDP hash table entries: 512 (order: 2, 16384 bytes)
UDP-Lite hash table entries: 512 (order: 2, 16384 bytes)
NET: Registered protocol family 1
RPC: Registered named UNIX socket transport module.
RPC: Registered udp transport module.
RPC: Registered tcp transport module.
RPC: Registered tcp NFSv4.1 backchannel transport module.
hw perfevents: enabled with ARMv7 Cortex-A9 PMU driver, 7 counters available
arm-pmu arm-pmu: PMU:CTI successfully enabled for 2 cores
NFS: Registering the id_resolver key type
Key type id_resolver registered
Key type id_legacy registered
NTFS driver 2.1.30 [Flags: R/W].
jffs2: version 2.2. (NAND) �© 2001-2006 Red Hat, Inc.
msgmni has been set to 2015
io scheduler noop registered (default)
Serial: 8250/16550 driver, 2 ports, IRQ sharing disabled
ffc02000.serial: ttyS0 at MMIO 0xffc02000 (irq = 194) is a 16550A
console [ttyS0] enabled
altera_fpga_manager ff706000.fpgamgr: fpga manager [Altera FPGA Manager] registered as minor 0
brd: module loaded
cadence-qspi ff705000.flash: DMA NOT enabled
cadence-qspi ff705000.flash: master is unqueued, this is deprecated
m25p80 spi2.0: n25q00 (131072 Kbytes)
2 ofpart partitions found on MTD device spi2.0
Creating 2 MTD partitions on "spi2.0":
0x000000000000-0x000000800000 : "Flash 0 Raw Data"
0x000000800000-0x000008000000 : "Flash 1 jffs2 Filesystem"
cadence-qspi ff705000.flash: Cadence QSPI controller driver
dw_spi_mmio fff00000.spi: master is unqueued, this is deprecated
dw_spi_mmio fff01000.spi: master is unqueued, this is deprecated
CAN device driver interface
stmmac - user ID: 0x10, Synopsys ID: 0x37
 Ring mode enabled
 DMA HW capability register supported
 Enhanced/Alternate descriptors
        Enabled extended descriptors
 RX Checksum Offload Engine supported (type 2)
 TX Checksum insertion supported
 Enable RX Mitigation via HW Watchdog Timer
libphy: stmmac: probed
eth0: PHY ID 00221611 at 1 IRQ POLL (stmmac-1:01) active
dwc2 ffb40000.usb: unable to find phy
dwc2 ffb40000.usb: EPs:15
dwc2 ffb40000.usb: dedicated fifos
dwc2 ffb40000.usb: 2560 invalid for host_rx_fifo_size. Check HW configuration.
dwc2 ffb40000.usb: DWC OTG Controller
dwc2 ffb40000.usb: new USB bus registered, assigned bus number 1
dwc2 ffb40000.usb: irq 160, io mem 0x00000000
usb usb1: New USB device found, idVendor=1d6b, idProduct=0002
usb usb1: New USB device strings: Mfr=3, Product=2, SerialNumber=1
usb usb1: Product: DWC OTG Controller
usb usb1: Manufacturer: Linux 3.10.31-ltsi-02861-g801a40f dwc2_hsotg
usb usb1: SerialNumber: ffb40000.usb
hub 1-0:1.0: USB hub found
hub 1-0:1.0: 1 port detected
usbcore: registered new interface driver usb-storage
mousedev: PS/2 mouse device common for all mice
i2c /dev entries driver
Synopsys Designware Multimedia Card Interface Driver
dwmmc_socfpga ff704000.flash: couldn't determine pwr-en, assuming pwr-en = 0
dwmmc_socfpga ff704000.flash: Using internal DMA controller.
dwmmc_socfpga ff704000.flash: Version ID is 240a
dwmmc_socfpga ff704000.flash: DW MMC controller at irq 171, 32 bit host data width, 1024 deep fifo
mmc_host mmc0: Bus speed (slot 0) = 50000000Hz (slot req 400000Hz, actual 396825HZ div = 63)
dwmmc_socfpga ff704000.flash: 1 slots initialized
platform leds.1: Driver leds-gpio requests probe deferral
ledtrig-cpu: registered to indicate activity on CPUs
usbcore: registered new interface driver usbhid
usbhid: USB HID core driver
oprofile: using arm/armv7-ca9
TCP: cubic registered
NET: Registered protocol family 10
sit: IPv6 over IPv4 tunneling driver
NET: Registered protocol family 17
NET: Registered protocol family 15
can: controller area network core (rev 20120528 abi 9)
NET: Registered protocol family 29
can: raw protocol (rev 20120528)
can: broadcast manager protocol (rev 20120528 t)
can: netlink gateway (rev 20130117) max_hops=1
8021q: 802.1Q VLAN Support v1.8
Key type dns_resolver registered
VFP support v0.3: implementor 41 architecture 3 part 30 variant 9 rev 4
ThumbEE CPU extension supported.
Registering SWP/SWPB emulation handler
platform leds.1: Driver leds-gpio requests probe deferral
Waiting for root device /dev/mmcblk0p2...
mmc_host mmc0: Bus speed (slot 0) = 50000000Hz (slot req 50000000Hz, actual 50000000HZ div = 0)
mmc0: new high speed SDHC card at address 0001
mmcblk0: mmc0:0001 SD16G 14.6 GiB 
 mmcblk0: p1 p2 p3
platform leds.1: Driver leds-gpio requests probe deferral
kjournald starting.  Commit interval 5 seconds
EXT3-fs (mmcblk0p2): using internal journal
EXT3-fs (mmcblk0p2): recovery complete
EXT3-fs (mmcblk0p2): mounted filesystem with ordered data mode
VFS: Mounted root (ext3 filesystem) on device 179:2.
devtmpfs: mounted
Freeing unused kernel memory: 328K (8066a000 - 806bc000)
systemd[1]: systemd 208 running in system mode. (+PAM +LIBWRAP -AUDIT -SELINUX +IMA +SYSVINIT -LIBCRYPTSETUP -GCRYPT +ACL +XZ)

Welcome to The �Ångstr�öm Distribution!

systemd[1]: Failed to insert module 'autofs4'
systemd[1]: Set hostname to <socfpga_cyclone5>.
systemd-fstab-generator[53]: Checking was requested for "rootfs", but it is not a device.
systemd[1]: Failed to isolate default target: Unit failed to load: No such file or directory.

The same behaviour occurs when I build linux with yocto, compile the hardware design and combine into an sd card image.

Any hint on how to fix this is appreciated.