HPC-AI Tech Raises $50M to Expand Colossal-AI and Open-Sora AI Platforms
SINGAPORE, Oct. 2, 2024 -- HPC-AI Tech, a startup specializing in AI Software Infrastructure and Video Generation AI, has announced the successful closure of a US$50 Million Series A funding round. In 2022, the company initially raised $6 million in seed funding.
Founded by Yang You, a Presidential Young Professor at the National University of Singapore, HPC-AI Tech is at the forefront of developing cutting-edge platforms that enable enterprises to efficiently train, fine-tune, and deploy their own AI models. HPC-AI Tech's flagship software, Colossal-AI and Open-Sora, have quickly become one of the fastest-growing open-source projects in scalable AI, accumulating over 60,000 stars on GitHub.
Colossal-AI combines the ability to scale the most demanding AI workloads, such as GPT and LLaMA, with the simplicity of a laptop-like development environment, making it accessible to organizations of all sizes. Open-Sora is an initiative dedicated to efficiently producing high-quality video and making the model, tools and contents accessible to all.
In addition to Colossal-AI and Open-Sora, HPC-AI Tech offers two commercial products: hpc-ai.com and video-ocean.com. hpc-ai.com is a comprehensive development platform designed to manage all aspects of the AI model lifecycle, including training, fine-tuning, and serving processes. The startup envisions this platform as the "new DataBricks for AI," aiming to replicate the success of DataBricks, which has become a leading platform for traditional machine learning and big data applications.
video-ocean.com is a versatile platform that empowers users to create their own TikTok-style videos, commercial advertisements, and even full-length movies. This platform democratizes video production, allowing users of all skill levels to generate high-quality video content. Similar products in the market include OpenAI Sora, Luma Dream Machines, and Runway.
The Series A funding will be instrumental in accelerating the development of HPC-AI Tech's platforms and expanding its market reach. The company has set an ambitious target to expand its client base to 300 within the next three years, with a projected 75% annual growth rate thereafter.
Yang You, the founder of HPC-AI Tech, brings an impressive academic and professional background to the company. He completed his PhD in Computer Science at UC Berkeley under the mentorship of Prof. James Demmel, a leading expert in supercomputing and the current Chief Strategy Officer of HPC-AI Tech. Prof. Demmel’s involvement further strengthens the company’s strategic direction, leveraging his extensive experience as a member of the National Academy of Sciences and the National Academy of Engineering.
With this financial backing, HPC-AI Tech is poised to make significant strides in the AI and video creation industries, solidifying its position as a leader in the next generation of enterprise AI solutions.
About HPC-AI Tech
HPC-AI Tech is a Singapore-based startup with 70 talents focused on developing scalable AI solutions for enterprises. Its flagship products, Colossal-AI and Open-Sora, enable organizations to efficiently train and deploy AI models on a cloud-native platform. The company also offers hpc-ai.com, a platform for managing the entire AI model lifecycle, and video-ocean.com, a platform for creating high-quality video content. The chairman of the company is Yang You, a distinguished researcher in AI and high-performance computing, with strategic guidance from Prof. James Demmel.
Source: HPC-AI Tech
