AI adoption is skyrocketing, with OpenAI projected to generate over $10 billion in revenue next year. However, many businesses still struggle to integrate AI into their operations. Simplismart, a company founded by former Oracle and Google engineers, aims to address this challenge by simplifying AI deployment. With a recent $7 million funding round led by Accel, Simplismart is set to accelerate its efforts.
Solving a Major Pain Point in AI Adoption
Despite the growing demand for generative AI, almost 90% of machine learning projects fail to make it into production due to high costs, complex deployment processes, and lack of control over the models. Simplismart is tackling these issues head-on.
The company has developed a fast and efficient inference engine that allows enterprises to deploy AI models while balancing performance and cost. This innovative platform promises to boost the return on investment (ROI) for AI projects, which is crucial for organizations hesitant to embrace AI fully.
As Amritanshu Jain, Simplismart’s Co-Founder and CEO, explains:
“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 standardized 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.”
The Fastest Inference Engine on the Market
With less than $1 million in initial funding, Simplismart has outperformed competitors like TogetherAI and FireworksAI. The company’s inference engine is the fastest on the market, enabling businesses to run AI models at impressive speeds. For example, it runs the Llama3.1 (8B) model at over 440 tokens per second, a significant leap in performance.
What sets Simplismart apart from its competitors is its focus on software-level optimization rather than relying on hardware upgrades. This approach ensures the platform is adaptable to any enterprise environment, whether on-premises or in the cloud.
Empowering Enterprises with Control and Flexibility
One of the key features of Simplismart’s platform is its declarative language, which simplifies the process of fine-tuning, deploying, and monitoring AI models at scale. This gives organizations more control over their AI infrastructure, helping them navigate common challenges like data security, cost efficiency, and scalability.
Jain draws parallels between Simplismart’s role in AI adoption and tools like Terraform for cloud computing or Android Studio for mobile app development:
“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.”
By providing a robust MLOps orchestration platform, Simplismart allows enterprises to focus on their core business needs without spending countless hours managing the underlying infrastructure.
The Future of AI Infrastructure
Simplismart’s recent $7 million funding round, which included participation from Shastra VC, Titan Capital, and high-profile angels like Akshay Kothari (Co-Founder of Notion), marks a significant milestone for the company. The funding will support continued research and development, enabling Simplismart to expand its offerings and bring its platform to more enterprises.
As Anand Daniel, Partner at Accel, puts it:
“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.”
Simplismart is poised to play a critical role in helping businesses deploy AI models with greater control, flexibility, and cost efficiency. As enterprises continue to grapple with the complexities of AI adoption, Simplismart’s innovative solutions could be the key to unlocking AI’s full potential across industries.
The title image: Simplismart founders Amritanshu Jain and Devansh Ghatak
Source: Simplismart, October 17, 2024
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