Wargaming led the edge AI technology company’s first external funding round, after a five-year hiatus in venture capital investments.
Image of Sean Lee, chief corporate development officer of Wargaming, the lead investor in the round.
Cyprus-headquartered video game publisher Wargaming has led a $60m series A round for Luxembourg-based edge AI technology developer Gcore.
Venture capital firms Constructor Capital and Han River Partners also took part in the round, which represents Gcore’s first external funding since it was founded in 2014.
Gcore provides edge AI, cloud, network and security technologies for public entities, telecommunications firms and corporations. It specialises in the media, entertainment, gaming, technology, financial services and retail industries.
The money will help the company further enhance its offerings including Nvidia GPU-equipped AI servers which enable faster large language model-based training capabilities.
“Gcore has been our partner for over 10 years, helping us deliver games to hundreds of millions of players worldwide,” said Wargaming chief corporate development officer Sean Lee (pictured).
Andre Reitenbach, chief executive of Gcore, added: “The growing demand for AI infrastructure from enterprises and SMBs alike highlights the importance of this significant investment.”
This deal is the first investment disclosed by Wargaming since 2019, having previously backed companies such as video game producers Donut Lab, Rawg and Neurogaming.
Wargaming also secured an exit in 2022 when metaverse streaming platform Polystream was acquired by blockchain gaming technology developer Mythical Games.
