Luxembourg-based Gcore, a provider of edge AI, cloud, network, and security solutions, has successfully raised $60 million in its first-ever external funding round. This Series A investment marks a significant milestone for the company, which has been operating for over a decade without external capital.

Funding Details

The funding round was led by Wargaming, with participation from Constructor Capital and Han River Partners. This substantial investment will fuel Gcore's mission to innovate in the rapidly growing edge AI market.

Company Overview

Gcore boasts an impressive global network comprising over 180 edge nodes across six continents, including more than 25 cloud locations. This extensive infrastructure enables the company to handle over 200 Terabits of data per second, positioning it as a leader in edge AI solutions.

Market Opportunity

The global edge AI market is experiencing rapid growth, valued at $14.78 billion in 2022, and is expected to expand at a compound annual growth rate (CAGR) of 21% from 2023 to 2030. This growth is driven by organizations across various industries adopting edge AI workloads and infrastructure to enhance operational efficiency and prioritize data sovereignty.

Strategic Focus

Gcore's cloud infrastructure is designed specifically for edge computing, enabling both the training of large language models (LLMs) and the inference of AI applications at the edge. This positions the company to capitalize on the LLM market, which is valued at over $200 billion and continues to grow.

Planned Investments

The newly acquired funds will be strategically invested in Gcore's technology and platform, with a particular focus on driving AI-led innovations. The company plans to invest in cutting-edge AI servers powered by NVIDIA GPUs, enhance its extensive network of AI servers, and reinforce the powerful edge services it offers.

Leadership Perspective

Andre Reitenbach, CEO of Gcore, emphasized the company's unique position to connect the world to AI anywhere and anytime. He highlighted the growing demand for AI infrastructure from both enterprises and SMBs, underscoring the significance of this investment.

As Gcore enters its next growth phase, the $60 million Series A funding positions the company to play a pivotal role in the ongoing AI revolution. By leveraging its extensive global network and focusing on edge AI solutions, Gcore aims to transform how companies operate in an increasingly AI-driven world. The support from strategic investors underscores the potential of Gcore's vision to connect the world to AI, anywhere and anytime, through innovative cloud and edge solutions.