NEW DELHI–Nvidia has invested in Bengaluru-based artificial intelligence startup Simplismart as part of a $14 million Series B funding round, backing the company’s efforts to help businesses run AI models more efficiently while reducing computing infrastructure costs.
The funding round was led by Dallas Venture Capital, with additional participation from Accel, Shastra VC and Micromax, according to a TechCrunch report.
The investment values Simplismart, founded in 2022, at approximately $100 million, including the newly raised capital.
The financing comes as businesses worldwide increase investments in AI computing infrastructure while seeking ways to improve the efficiency of expensive graphics processing units (GPUs) used to operate artificial intelligence applications.
Simplismart develops software that helps companies deploy, manage and optimize AI models without requiring substantial additional hardware investments.
The startup was founded by Amritanshu Jain, a former Oracle engineer, and Devansh Ghatak, a former Google engineer.
Its technology focuses on AI inference, the process through which trained artificial intelligence models generate responses, predictions or other outputs when users submit requests.
The company’s software operates between AI models and the computing infrastructure supporting them, automatically adjusting deployment configurations to meet specific performance and cost requirements.
This approach allows businesses to balance response speeds, the number of requests their systems can process and the computing resources required to operate AI applications.
Simplismart aims to help organizations make better use of their existing GPU infrastructure rather than continually expanding hardware capacity.
According to Jain, businesses do not necessarily need the fastest or least expensive AI inference systems. Instead, they require solutions that provide the appropriate combination of performance, speed and operating costs for their applications.
The startup offers software tools that allow customers to deploy AI models through Simplismart’s platform or within their existing cloud and on-premises computing environments.
Its services include model fine-tuning, automatic scaling of computing resources and performance monitoring.
These capabilities are designed to help companies manage growing AI workloads while maintaining control over infrastructure spending.
Simplismart said its technology helped AI-powered video creation platform InVideo reduce GPU serving costs by 56%.
The company’s customer base also includes AI video companies HeyGen and Higgsfield, along with enterprise artificial intelligence startup Ema.
Indian cloud computing provider Yotta uses Simplismart’s technology to support the serverless AI inference service available through its Shakti Studio platform.
The startup has also reported substantial business growth as enterprise adoption of artificial intelligence accelerates.
Simplismart said its annualized revenue run rate increased fourteenfold over the past six months, driven by growing customer usage of its software.
Although the company has a larger number of customers in India, more than half of its revenue currently comes from the United States.
The revenue distribution highlights the company’s growing exposure to the American enterprise AI market, where businesses are investing heavily in artificial intelligence applications and supporting infrastructure.
Nvidia’s participation in the funding round also underscores growing investor interest in software designed to improve the efficiency of AI computing systems.
As demand for AI processing power increases, companies face rising costs associated with purchasing, operating and maintaining GPU infrastructure.
Software platforms that improve hardware utilization and reduce the cost of running AI models are emerging as an important segment of the broader artificial intelligence industry.
For Simplismart, the latest funding provides additional financial support as it seeks to expand its technology offerings and serve a growing international customer base. (Source: IANS)
