Bengaluru startup Simplismart to raise nearly ₹97cr in Series B
Simplismart, a Bengaluru-based AI startup founded by former Google and Oracle engineers, is set to raise nearly ₹97 crore (around $9 million) in Series B funding.
The round was led by Dallas Venture Capital, with existing investors Accel India and Shastra VC, as well as new investor Micromax Informatics, also joining in.
The fresh funds are set to fuel their growth plans and daily operations.
Simplismart valued at ₹826cr post round
Dallas Venture Capital put in the biggest chunk at ₹44.84 crore, followed by Accel India and Shastra VC. Micromax Informatics is a new backer this time around.
After this round, Simplismart is valued at ₹826 crore.
Their platform helps big companies like Tata 1mg run AI models more efficiently: think improving GPU utilization and reducing inference costs across large language models (LLMs), vision language models, speech recognition, and image and video generation.
Last year, their revenue doubled, but losses grew too. They're clearly betting big on future growth.