Simplismart, a four-year-old startup based in Bengaluru, has secured $14 million in a Series B funding round. The investment, led by Dallas Venture Capital, included participation from Nvidia, Accel, Shastra VC, and Micromax. The deal brings the company's valuation to approximately $100 million.
The startup develops software that automates the deployment and management of AI models, allowing companies to optimize GPU usage based on specific performance and cost requirements. Simplismart reports that its platform helped InVideo reduce GPU serving costs by 56%. Other clients include HeyGen, Higgsfield, Ema, and the cloud provider Yotta.
Over the past six months, the company's annualized revenue run rate has increased 14-fold to an eight-figure sum. While the startup maintains a larger customer base in India, more than half of its revenue is generated in the U.S. The team currently consists of 58 employees.
Simplismart plans to utilize the new capital to scale its operations in the U.S., expand its workforce, and continue the development of its inference software. CEO Amritanshu Jain confirmed that the Series B round is closed and the company is not currently seeking additional funding.
