Nvidia Joins $14 Million Funding Round for AI Startup Simplismart
Bengaluru-based AI software startup Simplismart has raised $14 million in a Series B funding round, which included participation from Nvidia. The company develops solutions that reduce the GPU dependency of AI models.
Nvidia has participated in a $14 million Series B funding round for India-based Simplismart, a company that develops software to optimize the deployment of AI models and reduce the need for GPU usage. The round was led by Dallas Venture Capital, with support from investors including Accel, Shastra VC, and Micromax.
Founded in 2022 by Amritanshu Jain and Devansh Ghatak, Simplismart creates a layer between AI models and computing infrastructure to automate deployment processes. The four-year-old startup, which has reached a valuation of approximately $100 million, intends to use the new funding to expand its presence in the U.S. market and further develop its inference software, Dynamo.
Simplismart states that its technology has helped customers like InVideo reduce their GPU usage costs by 56 percent. The startup, which also works with companies such as HeyGen, Higgsfield, and Ema, is collaborating with Nvidia on the technical integration of its Dynamo software.
Sources
- techcrunch.com · Link