Gcore raises $60 million in Series A funding to accelerate AI innovation and global expansion

LUXEMBOURG, 23 July 2024–(BUSINESS WIRE)–Gcore, the global edge AI, cloud, network and security solutions provider, today announced it has raised $60 million in Series A funding round from institutional and strategic investors. Led by Wargaming and with participation from Constructor Capital and Han River Partners, this is the company’s first external capital raise since its founding more than 10 years ago. The funds will be strategically invested in Gcore’s technology and platform, including cutting-edge AI servers powered by NVIDIA GPUs to drive AI-powered innovation. This investment underscores Gcore’s commitment to providing advanced edge AI solutions that improve cloud resource efficiency and ensure data sovereignty.

Public organizations, telecom companies, and global enterprises trust Gcore with their edge workloads because of the company’s extensive network, strong presence in emerging markets, and proven cloud capabilities for AI training and inference. Gcore serves customers across a wide range of industries, including media and entertainment, gaming, technology, financial services, and retail.

Designed for the edge, serving a market opportunity of over $200 billion, Gcore’s cloud infrastructure enables both training large language models (LLMs) and inference of AI applications at the edge. This is enabled by Gcore’s global network of over 180 edge nodes across six continents, including over 25 cloud locations, with a total network capacity of over 200 Tbps.

“Gcore has been our partner for over 10 years, helping us deliver games to hundreds of millions of players worldwide. We are excited to support the company on this journey and help them gain a unique position to offer high-speed AI model training and inference anywhere in the world,” said Sean Lee, Chief Corporate Development Officer of Wargaming.

“Constructor Capital is excited to invest in Gcore, a leading player in AI IaaS, in a booming market with CAGRs of over 40%. We believe in Gcore’s unique value proposition as a comprehensive provider offering a wide range of edge solutions, high automation, attractive total cost of ownership, extremely low latency and an experienced management team. We look forward to a successful journey together in the coming years,” added Matthias Winter, Managing Partner of Constructor Capital.

“We are excited to invest in Gcore as they take a forward-thinking approach to global low-latency AI infrastructure and innovative edge AI solutions,” said Christopher Koh, Managing Partner of HRZ. “We are particularly impressed with their leadership in the Asia Pacific region, collaboration with best-in-class partners, and strategic focus on new AI opportunities in the region.”

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“We are on the cusp of an AI revolution that will change the way businesses work,” said Andre Reitenbach, CEO of Gcore. “Gcore is perfectly positioned to connect the world to AI anywhere, anytime by delivering innovative AI, cloud and edge solutions. The growing demand for AI infrastructure from enterprises and SMBs underscores the importance of this significant investment. We are delighted to have the support of investors such as Wargaming, Constructor Capital and Han River Partners as we expand our extensive network of AI servers and strengthen the powerful edge services we offer.”

About Gcore

Gcore is a global provider of edge AI, cloud, networking and security solutions. Headquartered in Luxembourg and with a 600-strong team in ten offices worldwide, Gcore provides solutions to world-leading companies in numerous industries. Gcore manages its global IT infrastructure on six continents and has one of the best network performances in Europe, Africa and Latin America thanks to an average response time of 30 ms worldwide. Gcore’s network consists of 180 points of presence worldwide in reliable Tier IV and Tier III data centers with a total network capacity of over 200 Tbps.

gcore.com

About Wargaming

Wargaming is an award-winning developer and publisher of online games headquartered in Nicosia, Cyprus. Operating since 1998, Wargaming has grown into a leading company in the gaming industry with 15 offices around the world, including studios in Chicago, Prague, Shanghai, Tokyo, Vilnius, Kyiv and Guildford. Millions of gamers enjoy Wargaming titles across all major gaming platforms. Our flagship products include the free-to-play hits World of Tanks, World of Warships and World of Tanks Blitz.

wargaming.com/en/

About Constructor Capital

Constructor Capital is a science-backed global venture capital fund specializing in investments in early-stage startups in the software and deep technology sectors. The firm provides financial investments, mentoring and strategic support to innovative companies, focusing on scalable products through research and academia. Constructor Capital primarily serves sectors such as software technology, deep technology and education technology.

Constructor.Capital

About Han River Partners

Han River Partners (HRZ) is a global venture capital firm with a focus on the Korea region, fundamentally driven by the transformative opportunities presented by breakthrough technological innovations.

www.hrz.vc

View original version on businesswire.com: https://www.businesswire.com/news/home/20240722352056/en/

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