Simplismart raises $7 m from Accel and others

Simplismart has raised $7 million Series A funding round led by Accel. The round also saw participation from Shastra VC, Titan Capital, among others.

The start-up plans to deploy the fresh funds towards its infrastructure that enables organisations to deploy AI models seamlessly.

Founded in 2022 by Amritanshu Jain, who tackled cloud infrastructure challenges at Oracle Cloud, and Devansh Ghatak, who honed his expertise on search algorithms at Google Search, the company has raised under $1 million in initial funding.

“Building generative AI applications is a core need for enterprises today. However, the adoption of generative AI is far behind the rate of new developments. It’s because enterprises struggle with four bottlenecks: lack of standardised workflows, high costs leading to poor ROI, data privacy, and the need to control and customise the system to avoid downtime and limits from other services,” said Amritanshu Jain, Co-Founder and CEO at Simplismart

The company said that its fast inference engine allows users to leverage optimised performance for all their model deployments.

“While most competitors focus on hardware optimisations or cloud computing, Simplismart has engineered this breakthrough in speed within a comprehensive MLOps platform tailored for on-prem enterprise deployments - agnostic towards choice of model and cloud platform,” it said in its statement.

Anand Daniel, Partner at Accel, said, “As GenAI undergoes its Cambrian explosion moment, developers are starting to realise that customising & deploying open-source models on their infrastructure carries significant merit; it unlocks control over performance, costs, customisability over proprietary data, flexibility in the backend stack, and high levels of privacy/security.”