GenAI inference platform Simplismart in talks with Peak XV, Damac Digital to raise $50-M at $500-M v

Bengaluru- and San Francisco (USA)-based Simplismart is in talks to raise USD 40-50 million in a new funding round. The potential investment could value the company at USD 300-400 million, marking a tripling of its valuation from the USD 100-120 million achieved earlier this year. Peak XV Partners and Damac Digital, the data centre division of the Dubai-based real estate firm Damac, are currently in talks to participate in the round.Founded in 2022 by former Oracle and Google engineers Amritanshu Jain and Devansh Ghatak, Simplismart provides a platform for enterprises to deploy artificial intelligence models. The company’s services assist businesses in scaling AI operations, reducing operational costs, and improving the efficiency of model inference. Simplismart counts Swiggy, Yubi, Invideo, PhysicsWallah, and Tata 1mg among its clients.The company is backed by a group of investors including Accel, Titan Capital, Dallas Venture Capital, and LetsVenture. Simplismart previously closed a funding round of USD 20-25 million earlier this year, which included participation from Nvidia.