TLDR:
- Cyprus-headquartered video game publisher Wargaming leads $60m series A round for Luxembourg-based AI tech firm Gcore.
- Gcore specializes in edge AI, cloud, network, and security technologies for various industries.
Luxembourg-based AI technology developer Gcore has raised $60 million in a series A funding round led by video game publisher Wargaming. The funding round also saw participation from venture capital firms Constructor Capital and Han River Partners. This is Gcore’s first external funding since its establishment in 2014.
Gcore focuses on providing edge AI, cloud, network, and security technologies to public entities, telecommunications firms, and corporations. The company specializes in industries such as media, entertainment, gaming, technology, financial services, and retail. The funding will enable Gcore to enhance its offerings, including Nvidia GPU-equipped AI servers for faster large language model-based training capabilities.
Wargaming’s chief corporate development officer, Sean Lee, highlighted the partnership between Wargaming and Gcore over the past decade, delivering games to millions of players globally. Gcore’s CEO, Andre Reitenbach, emphasized the increasing demand for AI infrastructure from enterprises and small to medium-sized businesses, underscoring the significance of this investment.
This funding round marks Wargaming’s first disclosed investment since 2019, following previous investments in companies like Donut Lab, Rawg, and Neurogaming. Wargaming experienced an exit in 2022 with the acquisition of metaverse streaming platform Polystream by blockchain gaming technology developer Mythical Games.
Overall, this funding round will enable Gcore to further develop its AI technologies and cater to the growing demand for AI infrastructure across various industries.
