The crush of traffic going into training and running AI has quickly turned into a major cost and resource headache for organizations. Today, Cast AI , a startup building tools to ease and optimize workloads for AI and other tasks with automation, is raising a major round of funding on the back of strong growth and partnerships with major players in the space.
“It’s all about GPU, compute and electricity,”
said Yuri Frayman, Cast’s CEO and co-founder.
“Our play is to ensure that we create efficiency, to be able to promote more workloads across GPUs. That is what we are about.”
When Cast last raised capital, $35 million in November 2023 , it was valued at $300 million post-money. Prior to this latest round, the startup had raised just over $86 million.
Cast AI is based out of Miami but has a strong presence in Europe, with most development done in Lithuania, Poland, Romania, and Bulgaria. It boasts 2,100 customers including Akamai, BMW, FICO, HuggingFace, NielsenIQ & Swisscom using its technology for workload optimization across cloud platforms.
In a time where companies face processor shortages for AI models training & execution needs better resource allocation. According to Cast AI’s research , only 10% of CPUs & 23% memory are utilized on average along with under-utilized GPU capacity.
This Series C funding round underscores the company’s focus on innovation as G2 Venture Partners & SoftBank Vision Fund 2 lead the investment. Notable backers include Aglaé Ventures (LVMH chairman Bernard Arnault’s investment firm) among others.
“We are partnering with Crusoe…to facilitate efficiency in their AI datacenters,”
highlighted Frayman while mentioning collaborations with industry giants like OpenAI & SoftBank for groundbreaking projects such as Stargate AI infrastructure initiative.
Cast’s roots trace back to Ukraine-born Frayman’s early days in finance before venturing into machine learning startups like Viewdle which got acquired by Google later on. The journey led them through Zenedge , a cybersecurity startup acquired by Oracle eventually inspiring Cast – focused initially on efficient cloud use for Kubernetes workloads.
“Everyone is talking about AI agents…Cast was an AI agent before we started talking about that technology,”
noted Carl Fritjofsson from Creandum appreciating Cast’s long-standing commitment towards automation excellence amidst the evolving tech landscape.
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