Simplismart Raises $7M to Revolutionize Enterprise AI Deployment with High-Performance Inference Engine

Simplismart raises $7M to help enterprises run their own AI models with rapid inference and full control - SiliconANGLE

Simplismart raises $7M to help enterprises run their own AI models with rapid inference and full control Artificial intelligence inference startup Simplismart, officially known as Verute Technologies Pvt Ltd., said today it has closed on $7 million in funding to build out its infrastructure platform and help companies to deploy AI models more easily. The Series A round was led by Accel and saw the participation of Shastra VC, Titan Capital, and high-profile angels such as Akshay Kothari, Co-Founder of Notion Inc. Simplismart has created what it says is a "fast inference engine" that enables companies to optimize the performance of AI model deployments. The startup says it wants to be seen as a critical enabler of AI's transition into mainstream enterprise operations. To do this, it is looking to solve a number of challenges that prohibit enterprise adoption of AI, such as the performance tradeoffs many companies are forced to make. In a blog post, Simplismart's co-founder and chief executive Amritanshu Jain says that enterprises increasingly want to adopt AI but struggle to realize much value out of it. Part of the problem is that it's not easy for companies to deploy AI by themselves. One alternative is to use third-party application programming interfaces, he said, but these are expensive, rigid and pose concerns over data security. "Every company has different inference needs, and one size does not fit all," Jain said. "APIs are not tailored to scale for bursty workloads and cannot tweak performance to suit needs. Businesses need to control their cost vs performance tradeoffs. This will be the primary reason for a shift towards open-source models, as companies prefer smaller niche models trained on relevant datasets over large generalist models to justify ROI." Jain argues that few enterprises want to "rent their AI", but says many are forced to do so because owning AI is not easy. To deploy large language models in-house, companies are faced with significant hurdles around scaling their infrastructure, creating a continuous integration and continuous deployment pipeline, getting access to compute resources, model optimization and cost-efficiency. At present, most companies use one of two off-the-shelf solutions for their AI, but these both have limitations. For instance, MLOps platforms enable orchestration and model serving, but they do not provide an optimized environment for AI in production, which means companies face severe performance limitations. The alternative is to use generative AI cloud platforms, or "GPU brokers", which provided optimized APIs and performance, but come with serious data privacy and cost concerns. Simplismart's inference engine is designed to give enterprises a new option, providing a standardized language that software engineers can use when creating generative AI applications. Its primary benefit is that it reduces the time it takes for models to respond to queries. It cites benchmarks that demonstrate its ability to run the open-source Llama 3.1 8B model at a throughput of >440 tokens per second. This represents an impressive speed breakthrough, and it is bundled with a comprehensive MLOps platform that's tailored for on-premises AI deployments. According to Jain, there's a big market for what the startup is offering. He cites data that shows how almost 90% of enterprise's machine learning projects never make it into production. "The adoption of generative AI is far behind the rate of new developments," the CEO said. "It's because enterprises struggle with four bottlenecks: lack of standardized workflows, high costs leading to poor ROI, data privacy, and the need to control and customize the system to avoid downtime and limits from other services." Simplismart's declarative language is similar to Terraform and helps software teams with tasks such as fine-tuning, deploying and monitoring generative AI models at scale. The platform helps to standardize all of these workflows, ensuring teams can optimize their models for performance. Simplismart was founded in 2022 by Jain alongside Devansh Ghatak, the company's chief technology officer. While Jain's experience lies in cloud infrastructure, primarily from his time at Oracle Corp., Ghatak's area of expertise is search algorithms, which was honed during his time at Google LLC. In just two years, with less than $1 million in capital, Simplismart has managed to create a powerful MLOps platform for deploying models complete with a high-performance inference engine that the founder's say is the world's fastest. With it, companies can create, fine-tune, deploy and then run their AI models on-premises at suitably rapid speeds, boosting performance without the cost and security concerns. Simplismart says it wants to help companies deploy custom generative AI applications with full control. It sees itself as providing the granular Lego bricks companies need to create their own inference and deployment environments, so they can do this. To date, Simplismart has already amassed around 30 customers who are delivering a combined $1 million in revenue on an annual run rate basis. With the funding from today's round, Jain thinks the company can reach $5 million by the first quarter of next year. The money from today's round will be a big help for Simplismart, and it's earmarked for product development, recruitment and investment in its sales and marketing efforts. Accel Partner Anand Daniel said more companies have begun to realize the merits of deploying and customizing AI models on their own infrastructure, such as control over performance, cost, data security, privacy and more. "What blew us away was how their tiny team had already begun serving some of the fastest-growing generative AI companies in production," he said. "It furthered our belief that Simplismart has a shot at winning in the massive but fiercely competitive global AI infrastructure market."

Ex-Oracle and Google Engineers' AI Startup Raises $7 mn Funding From Accel

Simplismart's inference engine optimisations enabled Llama 3.1 8B to achieve a throughput of over 440 tokens per second. Simplismart, founded by former Oracle and Google engineers, has raised $7 million in a Series A round led by Accel, with participation from Shastra VC, Titan Capital, and angel investors like Akshay Kothari, co-founder of Notion. This funding will accelerate the company's R&D and expansion of its MLOps orchestration platform, designed to help enterprises deploy AI models with improved control over cost and performance. As the AI landscape continues to grow, Simplismart claims to have built the world's fastest inference engine, surpassing competitors like TogetherAI and FireworksAI. Despite operating with less than $1 million in initial funding, the startup's engine enables businesses to optimise their AI models, allowing for rapid deployment while maintaining cost efficiency. Amritanshu Jain, co-founder and CEO of Simplismart, emphasised the challenges enterprises face in adopting generative AI. "Enterprises struggle with bottlenecks like high costs, poor ROI, data privacy issues, and lack of control over their systems. Our platform helps them overcome these hurdles, offering a standardised, customizable solution," Jain said. Founded in 2022 by Jain, who worked on cloud infrastructure at Oracle Cloud, and Devansh Ghatak, an expert in search algorithms from Google Search, Simplismart has quickly made strides in the AI space. Simplismart's inference engine optimises performance for all model deployments. For instance, its software-level optimisations enable Llama 3.1 8B to achieve a throughput of over 440 tokens per second. Unlike many competitors who rely on hardware or cloud-based solutions, Simplismart's innovation lies in its MLOps platform, designed for on-premises enterprise deployments and flexible across different models and cloud platforms. Simplismart's platform offers a declarative language, similar to Terraform, simplifying the process of fine-tuning, deploying, and monitoring AI models at scale. It allows organisations to deploy generative AI models with optimised performance while keeping costs manageable, a key concern for businesses navigating the complexities of AI adoption. Anand Daniel, Partner at Accel, praised the startup's approach. "Simplismart has recognised the value of enabling developers to customise and deploy open-source models on their infrastructure, offering significant advantages in performance, cost control, and data privacy," he said. With the new funding, Simplismart aims to become a leader in the AI infrastructure market, enabling more companies to adopt and scale AI-powered applications.

Simplismart supercharges AI performance with personalized, software-optimized inference engine

Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More Enterprises are all in on AI. They want their models to run in production environments smoothly and with as high performance as possible to obtain a high return on investment. However, even with all the advanced models available in the market, teams continue to struggle with deployment issues. Last year, Peter Bendor-Samuel, the CEO of Everest Group, estimated that 90% of the gen AI pilots started will not make it to production. Even Gartner has predicted that a significant portion of generative AI projects are likely to be abandoned after proof of concept by the end of 2025. Among the hurdles to adoption, the largest one is orchestration. Teams just don't have the resources to do everything in-house, which leaves them reliant on rigid and expensive third-party APIs. Today, Simplismart AI raised $7 million in funding to address this gap with its end-to-end MLOps platform that accelerates the entire orchestration effort by taking care of everything from fine-tuning models to deployment and observability. While there are other MLOps solutions in the market, including those from Datadog, what makes this startup different is its personalized software-optimized inference engine. It deploys models at lightning-fast speed, significantly boosting their performance while driving down associated costs. "Without any hardware optimization, we've unlocked a throughput of 501 tokens per second on the Llama3.1 8B model, which far beats other inference engines. Similarly, we've achieved better results across all modalities, including text-to-speech, speech-to-text, text-to-image, image-to-image," Amritanshu Jain, former Oracle engineer who co-founded the startup with ex-Google techie Devansh Ghatak, tells VentureBeat. Solving orchestration gaps with Simplismart optimized inference When deploying AI in-house (for enhanced control and privacy), teams have to deal with several bottlenecks, right from accessing compute power and optimizing model performance to scaling infrastructure, CI/CD pipelines and cost efficiency. Handling everything manually can easily take months. Not to mention, a slight error here or there in the pipeline can hit the performance of the model and lead to high costs and poor ROI. With its end-to-end orchestration platform, Simplismart standardizes this entire workflow, allowing users to fine-tune, deploy and observe highly optimized open-source models - covering different modalities - according to their needs. "Users can either use our shared infrastructure or bring their own compute, cloud account to configure their infrastructure and deployments with ease. The intuitive dashboard of the platform allows them to set parameters like GPUs, machine types, scaling ranges, etc. Once the cluster is ready, users can deploy from a wide range of pre-optimized models or import their own... Finally, the observability features come into play and allow users to track SLAs, monitor the performance of the model in the real world and benchmark performance against past numbers...," Jain explained. The Terraform-like declarative orchestration language of the platform lets enterprises easily manage the entire pipeline, putting complete control back into their hands and reducing their dependency on the DevOps teams. Meanwhile, the personalized, software-optimized inference engine at its heart ensures that the models are deployed to deliver the desired performance and cost results. "Simplismart stands out as the platform that can deliver a personalized inference engine tailored to each enterprise's needs -- whether it's load, SLAs, performance requirements, GPU usage, etc. This helps enterprises strike the right balance between cost and performance," Jain said. He noted that the inference engine performance is optimized across three main layers. First, it optimizes application serving with a custom serving layer for ML workloads. Then, it supports infrastructure with rapid upscaling/downscaling and sharding of models across GPUs to maximize hardware utilization. Finally, it optimizes model-GPU interaction with 28 custom kernels using CUDA. This allows the engine to squeeze even more performance out of the hardware being used. He said the optimized inference engine is already running some popular models, including Llama 3.1 8B, OpenAI's Whisper v2 and SDXL, with a major performance boost. "We've consistently recorded a throughput of 501 tokens/sec during multiple Llama 3.1 8B runs. That said, this doesn't mean every single request will achieve that exact figure, as performance can fluctuate within a band, which is typical for all inference engines. In our tests, we observed a median of ~350 tokens/second under sustained load. What's particularly exciting is that even at this median, our performance band remains significantly higher than any other inference engine on the market," he noted. Simplismart already has a pipeline of 30 enterprise customers, including Invideo, Dashtoon, Dubverse and Vodex. One pharma marketplace used the company's platform to deploy InternVL2 models for digitizing hand-written prescriptions and was able to improve spatial configuration detection, processing 2.5x more images at half the cost. As the next step in this work, Simplismart wants to improve the performance of its MLOps platforms further. It will use the fresh funding to fuel R&D and come up with new techniques to increase the speed of AI inference and stay ahead of the competition. "The company has tripled revenue in the last four months to reach ~$1M annual revenue run-rate. We aim to scale to $10M ARR in the next 15 months. Our major levers are to target the top 50 AI-first enterprises and drive open-source adoption of our terraform-like orchestration language," Jain noted.

Simplismart Bags $7 Mn To Simplify AI Adoption For Enterprises

Bengaluru-based SaaS startup Simplismart has raised $7 Mn in its Series A round led by Accel. The round also saw participation from Shastra VC, Titan Capital, among others. The startup plans to utilise the fresh capital to expand its research and development (R&D) initiatives and accelerate growth. Founded in 2022 by Amritanshu Jain and Devansh Ghatak, Simplismart aims to simplify AI adoption for enterprises by offering a high-performance, cost-effective platform for deploying machine learning models. The company's platform is designed to address challenges in enterprise AI adoption such as performance tradeoffs and make AI-powered projects more viable. Underlining the growing need for enterprises to manage AI workloads, cofounder and CEO Jain said, "It's because enterprises struggle with four bottlenecks: lack of standardised workflows, high costs leading to poor RoI (return on investments), data privacy, and the need to control and customise the system to avoid downtime and limits from other services". The fundraise comes at a time when the homegrown B2B AI space is witnessing a lot of traction from the investors recently. Earlier this month, platform-as-a-service (PaaS) startup Data Science Wizards secured seed funding from a host of undisclosed investors. In April, another AI-focussed enterprise tech startup Assert AI secured INR 30 Cr funding in its Series A round from Latent View's Ramesh Hariharan, Prashant Purker of ICICI Ventures, Arya.ag and others to offer integrated AI-powered B2B solutions. A month later in May, martech startup Highperformr.AI bagged $3.5 Mn in a seed funding round led by Venture Highway to build its native AI capabilities and expand distribution network.