NVIDIA Participates in $14 Million Series B Funding Round for Indian Startup Simplismart

On October 27, according to TechCrunch, Nvidia participated in the $14 million Series B funding round for Indian startup Simplismart, led by Dallas Venture Capital with participation from Accel, Shastra VC, and Micromax. The deal values the four-year-old company at approximately $100 million, including the new investment. Simplismart states that its software sits between AI models and computing infrastructure, automatically adjusting model deployment and management to optimize response times, request throughput, and computing power consumption, helping customers make more efficient use of existing GPU resources.

The company stated that its software helped AI video generation platform InVideo reduce GPU service costs by 56%. Simplismart CEO Amritanshu Jain told TechCrunch that the company's annualized revenue run rate grew 14 times over the past six months to reach an eight-figure amount, based on recent customer usage rather than contract recurring revenue and excluding revenue passed through to infrastructure providers. The US accounts for over half of the revenue, despite the company having more customers in India.