Gcore, a specialist in public cloud, edge computing, and edge AI, has announced the closure of a Series A funding round of approximately 83 billion won (60 million dollars) from institutional and strategic investors.

The investment was led by Wargaming, with participation from Constructor Capital and Hangang Partners. This marks the first external capital raise for Gcore since its establishment in 2014.

Gcore stated, "Based on strategic investments in next-generation AI servers powered by NVIDIA GPUs and technology and platform capabilities, we will drive AI-led innovation while providing advanced edge AI solutions that enhance cloud efficiency and guarantee data sovereignty."

Gcore counts global enterprises, public institutions, and telecommunications carriers as primary customers. The company serves customers across diverse sectors including media and entertainment, gaming, technology, financial services, and retail.

Gcore's cloud infrastructure supports both training of large language models (LLMs) and inference of AI applications at the edge. The company operates a global network comprised of more than 180 edge nodes worldwide and possesses a total network capacity exceeding 200 Tbps.

According to a June 2023 Bloomberg Intelligence (BI) report, the edge cloud infrastructure market is analyzed to present a market opportunity of over 200 billion dollars (approximately 277 trillion won in Korean currency).

Sean Lee, Chief Corporate Development Officer at Wargaming, stated, "For over a decade, Gcore has been a partner to Wargaming, helping deliver games at the fastest speeds and with zero latency to hundreds of millions of players worldwide. We are pleased to support Gcore's journey toward AI innovation and look forward to helping establish its unique position as a leader in enabling ultra-high-speed AI model training and inference anywhere in the world."

Matthias Winter, Managing Partner at Constructor Capital, said, "We are excited to invest in Gcore, a leader in the AI IaaS (cloud computing) sector in a market growing at a compound annual growth rate (CAGR) exceeding 40 percent. Gcore is a comprehensive provider offering extensive edge solutions, highly advanced automation levels, competitive total cost of ownership (TCO), very low latency, and an experienced management team, and we believe in its unique value proposition."

Christopher Koh, Managing Partner at global venture capital firm Hangang Partners, stated, "We were impressed by Gcore's forward-looking approach to edge AI solutions, its leadership in the Asia-Pacific region, collaboration with world-class partners, and strategic alignment with emerging AI opportunities in the Asia-Pacific region, which led us to make this investment decision."

Andre Reitenbach, CEO of Gcore, said, "Gcore stands at the forefront of the AI revolution that will transform how enterprises operate, and is uniquely positioned to connect the entire world to AI anytime and anywhere by providing innovative AI, cloud, and edge solutions. The growing demand for AI infrastructure from both large enterprises and small and medium-sized businesses underscores the significance of this investment, and with the support of investors such as Wargaming, Constructor Capital, and Hangang Partners, Gcore is pleased to be able to further strengthen its AI server network and edge services."