Virtaitech

Beijing China, 12^th July，Chinese AI Computing Platform Leader VirtAITech announced that it has raised several dozens of millions USD in series B funding, led by Prosperity7 Ventures, the diversified growth fund of Aramco Venture, alongside Oriza PE and existing shareholders Shunwei Capital, GL Ventures, Vision Knight Capital, and CMB International Telecom Fund, and Index Capital continued to act as the exclusive financial advisor. This is another funding round after the series A+ funding in February this year, and it is also the fifth funding round completed since the company was established 2 years ago. After this round of funding, the company plans to use the funds for building the company’s customer service system and further increase R&D investment and accelerate product iteration.

VirtAITech was established in 2019, focusing on building an efficient AI computing resource pool, helping customers improve the utilization of AI computing resources, reducing TCO, and improving the efficiency of algorithm engineers. The company’s self-developed OrionX AI computing power resource pooling software can help enterprise customers build data center-level AI computing power resource pools, and conduct unified management, maintenance and deployment of various AI computing power resources of customers.

VirtAITech uses software defined computing power, subverting the traditional architecture of AI applications that directly call physical computing resources, decoupling AI applications and physical computing resources, not only supporting local computing power virtualization, but also breaking the physical boundary of scheduling, allows user applications to transparently use remote computing resources on other physical machines without modifying the code. With almost zero performance loss, it can achieve data center-level computing resource pooling management and flexible scheduling. Improve the utilization and management flexibility of the entire resource pool.

Up to now, VirtAITech’s OrionX software has been recognized by many industry-leading customers including the dotcom, financing, telecom operators, and universities. It has served lots of customers including Institute for Interdisciplinary Information Core Technology, Ctrip.com, China Mobile Migu, and the Purple Mountain Laboratories, the company also developed strategic cooperation with partners such as Dell EMC, Inspur Information, AWS, QingCloud, Rancher, DaoCloud, and iFLYTEK. In the first quarter of 2021, VirtAITech has won bids for AI computing resource pooling and GPU resource management projects from cusmtoers such as ” Purple Mountain Laboratory”, “Ctrip.com”, “China Mobile Migu Company”, etc. Provide customers with a flexible and scalable total solution for GPU resource pooling. In April 2021, VirtAITech and the School of Computer Science of Northwestern Polytechnical University jointly announced the deployment of VirtAITech’s OrionX AI accelerators resource pooling software to help the School build a university data center-level AI accelerators resource pool to achieve rapid allocation/recycling, flexible on-demand scheduling and dynamic adjustment of GPU resources.

In addition, VirtAITech and Turing AI Institute of Nanjing established an AI computing resource pooling joint laboratory in May this year to promote the research and accumulation of software-defined computing power and other technologies, and to further promote the virtualization of AI computing power, research on resource pooling systems, and develop software-defined computing power systems suitable for AI applications in various industries.

With the backing of Prosperity7 Ventures, VirtAITech’s product and technical capabilities will be further recognized in the global market, which also laid the foundation for overseas market expansion and globalization strategy. VirtAITech will continue to improve software, hardware and business eco-system, and work on expanding to oversea market and creating value for global customers while keep serving customers in China.

According to Aysar Tayeb, Executive Managing Director of Prosperity7 Ventures, “AI is one of the key focus areas of Prosperity7 Ventures. Pooling of computing power is fundamental to most AI applications, and it will help business achieve better performance in the age of AI-driven digitalization. Prosperity7 Ventures is always looking to partner with pioneers working to create differentiated impact. We are impressed by VirtAITech’s team and their extensive experiences in this sector. We are thrilled to support the company and the commercialization of VirtAI solution. Starting from serving customers in China, we believe VirtAI is ready to expand into oversea market and continue to create value for customers around the world.”

About Prosperity7 Ventures

Prosperity7 Ventures is the diversified growth fund of Aramco Ventures, a subsidiary of Aramco, the world’s leading integrated energy and chemicals company. The fund’s name derives from “Prosperity Well,” the seventh oil well drilled in Saudi Arabia and the first to strike commercial oil, paving the way to prosperity. Bringing forward this pioneering history, Prosperity7 invests globally with a long-term view in breakthrough technologies and transformational business models that bring prosperity and positive impacts on a vast scale. Office website: https://www.prosperity7vc.com/