Exostellar's Stellar Growth: $15M Series A funding
Exostellar's Vision for AI-Driven Supercomputing Optimization Receives Boost with Additional Investments and New Leadership
SANTA CLARA, Calif., Sept. 13, 2023 /PRNewswire/ -- Exostellar, the innovative cloud resource optimization and management platform, is excited to announce the closing of its oversubscribed $15 million Series A financing, led by Celesta and Cambium Capital, with participation from Candou Ventures and AI Capital Partners (Alpha Intelligence Capital's U.S.-based fund). Backed by this investment, Exostellar is poised to propel its pioneering technology intothe AI-GPU domain. The strategy involves amplifying its X-Compute platform and extending its CPU live migration IP to encompass GPU compatibility. This innovative Cloud Native GPU live migration initiative will propel Exostellar to the forefront, well-equipped to cater to the escalating requirement for GPU-centric AI workloads.
With the close of this oversubscribed round, Exostellar is also announcing that Tony Shakib is assuming the role of President and CEO. This strategic transition comes at a pivotal moment as Exostellar positions itself for exponential growth and impact. Hakim Weatherspoon, in turn, will assume the role of Chief Scientist, focusing on driving innovation and technological advancement within the company.
"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," said Tony Shakib.
"It's truly gratifying to witness Exostellar's journey from its early days," said Lip-Bu Tan, the lead investor in Exostellar's seed round. "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."
Nhi Lê, Principal at AI Capital Partners, expressed excitement about the investment, stating, "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 breakthrough 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."
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