California, USA-based provider of a cloud resource optimization and management platform, Exostellar, raised USD 15 million in Series A funding. The company announced the investment on September 13, 2023. Celesta and Cambium Capital led the financing for the company. In addition, Candou Ventures and AI Capital Partners (Alpha Intelligence Capital’s U.S.-based fund) also provided the investment. As a part of the deal, Hakim Weatherspoon, in turn, will assume the role of Chief Scientist.
Purpose of financing for Exostellar
With the latest proceeds from the Series A round, Exostellar seeks to propel its pioneering technology into the AI-GPU domain. The strategy involves enhancing its X-Compute platform and extending its CPU live migration IP to encompass GPU compatibility. This innovative Cloud Native GPU live migration initiative further strengthens Exostellar to the forefront. It is in a good position to cater to the escalating requirement for GPU-centric AI workloads.
What the company’s official has to add
Tony Shakib, CEO and president, said, “Exostellar is committed to redefining how cloud resources are optimized and managed, and this additional investment fuels our efforts to provide enterprises with game-changing solutions that drive efficiency, scalability, and cost savings.”
What the lead investors have to add
Lip-Bu Tan, the lead investor in Exostellar’s seed round, further said, “It’s truly gratifying to witness Exostellar’s journey from its early days. The oversubscription of the Series A funding is a testament to the team’s dedication and the disruptive potential of their platform. Exostellar has the power to transform how cloud resources are optimized, and I’m excited to see its impact on the industry.”
In addition, Nhi Lê, Principal at AI Capital Partners, expressed excitement about the investment said, “We’re excited to invest in Exostellar and its development of AI-enabled cloud GPU resource optimization solutions. Exostellar’s momentum in stateful CPU live migration and cloud cost reduction has ushered in industry-changing breakthroughs for cloud-based high-memory compute. With the upcoming GPU capabilities, Exostellar is uniquely positioned to address the global compute bottleneck for high-performance computing and AI applications.”
About Exostellar
In 2019, Founders Hakim Weatherspoon, Robbert Van Renesse, and Zhiming Shen launched the company. Exostellar is a cloud resource optimization and management platform. The company leverages Artificial Intelligence (AI) and Machine Learning (ML) to help enterprises reduce spending in the cloud while enhancing both operational security and performance.
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