• About
  • Advertise
  • Careers
  • Contact Us
Sunday, June 22, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
ADVERTISEMENT
Home Business StartUPs

Ex-Oracle, Google Engineers Get $7M from Accel for Public Launch of Simplismart

…to Drive AI Adoption

by Joan Aimuengheuwa
October 17, 2024
in StartUPs
0
Ex-Oracle, Google Engineers Get $7M from Accel for Public Launch of Simplismart
Simplismart

Simplismart

UBA
Advertisements

OpenAI is projected to generate over $10 billion in revenue next year, a clear sign that the adoption of generative AI is accelerating. 

Yet, most companies struggle to deploy large AI models in production. With the steep costs and complexities involved, nearly 90% of machine learning projects are estimated never to make it to production. 

Addressing this pressing issue, Simplismart is today announcing a $7m funding round for its infrastructure that enables organisations to deploy AI models seamlessly. 

Like the shift to cloud computing, which relied on tools like Terraform and mobile app development fueled by Android, Simplismart is positioning itself as the critical enabler for AI’s transition into mainstream enterprise operations. 

The series A funding round was led by Accel with participation from Shastra VC, Titan Capital, and high-profile angels, including Akshay Kothari, Co-Founder of Notion. This tranche, more than ten times the size of their previous round, will fuel R&D and growth for their enterprise-focused MLOps orchestration platform.

Ex-Oracle, Google Engineers Get $7M from Accel for Public Launch of Simplismart
Advertisements
MTN ADS
Amritanshu Jain and Devansh Ghatak, Simplismart founders

The company was co-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. 

In just two years, with under $1m in initial funding, Simplismart has outperformed public benchmarks by building the world’s fastest inference engine. This engine allows organisations to run machine learning models at lightning speed, significantly boosting performance while driving down costs.

Simplismart’s fast inference engine allows users to leverage optimised performance for all their model deployments. For example, Its software-level optimisation helps run Llama3.1 (8B) at an impressive throughput of >440 tokens per second. 

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.

“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

Simplismart’s platform offers organisations a declarative language (similar to Terraform) that simplifies fine-tuning, deploying, and monitoring genAI models at scale. 

Third-party APIs often bring concerns around data security, rate limits, and utter lack of flexibility, while deploying AI in-house comes with its own set of hurdles: access to computing power, model optimisation, scaling infrastructure, CI/CD pipelines, and cost efficiency, all requiring highly skilled machine learning engineers. 

Simplismart’s end-to-end MLOps platform standardises these orchestration workflows, allowing the teams to focus on their core product needs rather than spending numerous manhours building this infrastructure.

Amritanshu Jain added: “Until now, enterprises could leverage off-the-shelf capabilities to orchestrate their MLOps workloads since the quantum of workloads, be it the size of data, model or compute required, was small. As the models get larger and the workload increases, it will be imperative to have command over the orchestration workflows. Every new technology goes through the same cycle: exactly what Terraform did for cloud, android studio for mobile, and Databricks/Snowflake did for data.”

“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”, said Anand Daniel, partner at Accel. 

“We were happy to see that Simplismart’s team saw this opportunity quite early, but what blew us away was how their tiny team had already begun serving some of the fastest-growing GenAI companies in production. It furthered our belief that Simplismart has a shot at winning in the massive but fiercely competitive global AI infrastructure market.”

Solving MLOps workflows will allow more enterprises to deploy genAI applications with more control. They want to manage the tradeoff between performance and cost to suit their needs.

Simplismart believes that providing enterprises with granular Lego blocks to assemble their inference engine and deployment environments is key to driving adoption. 

Loading

0Shares
Tags: AccelAI AdoptionAmritanshu JainDevansh GhatakGenAIGenerative AISimplismart
Joan Aimuengheuwa

Joan Aimuengheuwa

Joan thrives at helping individuals and businesses scale via storytelling...

Next Post
9PSB Customer Week

9PSB Celebrates 2024 Customer Service Week with Impressive Activities

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

Kredete Unveils its AI-Powered Lending Platform  

Kredete Unveils its AI-Powered Lending Platform  

2 years ago
Afreximbank to Support Congo-based SMEs with €10 million Factoring Facility

Afreximbank to Support Congo-based SMEs with €10 million Factoring Facility 

2 years ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.