Gcore raises 60 million dollars in Series A financing round

Luxembourg-based startup Gcore raises $60 million in a Series A funding round to further develop its AI and cloud technologies and expand globally

Luxembourg, July 23, 2024 - Gcore, a global provider of AI, cloud, network and security solutions, has raised $60 million in a Series A funding round. This funding was provided by institutional and strategic investors. This is the company's first external capital increase since it was founded over ten years ago.

Investment in AI and global expansion

Gcore plans to strategically invest the new funds in its technology. This includes advanced AI servers with NVIDIA GPU to drive AI-powered innovation. The goal is to deliver AI solutions that improve the efficiency of cloud resources and ensure data sovereignty. The funding is led by Wargaming, with participation from Constructor Capital and Han River Partners (HRZ).

We are on the cusp of an AI revolution that will transform the way businesses operate. Gcore is perfectly positioned to connect the world with AI by providing innovative AI, cloud and edge solutions.

Andre Reitenbach, CEO of Gcore

Global customer base

Gcore has been our partner for over ten years, helping us reach millions of gamers worldwide.

Sean Lee, Chief Corporate Development Officer of Wargaming

Gcore serves a diverse customer base, including public sector organizations, telecommunications companies and global corporations. Clients also include companies in the media and entertainment, gaming, technology, financial services and retail sectors. Gcore offers a specialized cloud infrastructure for the edge, enabling both large-scale language model (LLM) training and AI application inference.

Future outlook

Gcore is a leader in AI IaaS, a market with annual growth rates of over forty percent.

Matthias Winter, Managing Partner of Constructor Capital

Gcore's cloud infrastructure comprises a global network with over 180 edge nodes on six continents and more than 25 cloud locations. With a total network capacity of over 200 Tbps, Gcore offers its customers a powerful platform for the future challenges of AI-powered technology.