Cast AI becomes Lithuania’s 5th Unicorn
Lithuania's Cast AI has achieved unicorn status, surpassing a $1 billion valuation after securing investment from Pacific Alliance Ventures (PAV), the US-based corporate venture arm of Shinsegae Group. This milestone marks Cast AI as the fifth unicorn company to emerge from Lithuania, highlighting the country's growing prominence in the tech sector. This funding round underscores the market's confidence in Cast AI's platform and its global expansion strategy. Cast AI's platform employs advanced machine learning algorithms to automate Kubernetes clusters, optimizing them in real-time to cut cloud costs, improve application performance, and boost DevOps efficiency. The company also launched OMNI Compute, which integrates external compute resources, including GPUs, to allow workloads to run on the most suitable resources. This technology enables organizations to run AI inference workloads without cloud lock-in, with control over execution, supporting compliance and regulatory needs. This development affects enterprises seeking cost-effective and efficient cloud solutions, particularly those focused on AI workloads. The ability to avoid cloud lock-in and optimize resource allocation provides greater flexibility and control. With new offices and subsidiaries established globally, Cast AI is well-positioned to serve an international clientele. Cast AI's success reflects a broader trend of European tech companies gaining traction in the cloud automation and AI space. This investment will enable them to continue to scale and introduce new features like OMNI Compute. The company's expansion underscores the importance of the European digital market.
Curated and translated by Europe Digital for our multilingual European audience.
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