The Luxembourg-based technology company Gcore has announced that it has secured a $60m Series A round of funding led by Wargaming, with participation from Constructor Capital and Han River Partners. This is the company’s first capital raising since its creation more than 10 years ago. The funds will be strategically invested in Gcore’s technology and platform, including cutting-edge AI servers powered by Nvidia GPUs, to drive AI-led innovation.
“We are on the cusp of an artificial intelligence revolution that will transform the way businesses operate,” commented Gcore CEO . “Gcore is perfectly positioned to connect the world to AI, anywhere, anytime, by providing innovative AI, cloud and edge solutions. The growing demand for AI infrastructure from enterprises and SMEs underlines the importance of this significant investment. We are delighted with the support of investors such as Wargaming, Constructor Capital and Han River Partners as we strengthen our extensive network of AI servers and consolidate the powerful edge services we offer.”
Designed for the edge and addressing a $200bn+ market opportunity, Gcore’s cloud infrastructure powers both the training of large language models (LLMs) and the inference of AI applications at the edge. This is enabled by Gcore’s global network of more than 180 edge nodes across six continents, including more than 25 cloud locations, with a total network capacity in excess of 200 tbps.
Two records in 2011
“Gcore has been our partner for over 10 years, helping us deliver games to hundreds of millions of gamers around the world. We are delighted to support the company and look forward to helping them uniquely position themselves to lead high-speed AI model training and inference around the world," commented Wargaming’s corporate development director Sean Lee. Founded by Belarusian Victor Kislyi in Minsk on 2 August 1998 and based in Cyprus, this video games company achieved two records in quick succession in 2011: 91,311 players at the same time and, six months later, 250,000 players, with World of Tanks, released in 2010.
Another well-known personality involved in the round of fundraising: Serg Bell, the head of Constructor Capital. Born in Russia as Sergueï Mikhaïlovitch Beloussov, he set up in 2019 the Constructor Institute of Technology, formerly known as the Constructor Institute and the Schaffhausen Institute of Technology, a private not-for-profit institute in Switzerland that aims to supply the market with tech talent. Bell has his family office, Arici, in Luxembourg.
“Constructor Capital is delighted to invest in Gcore, a leading player in the AI IAAS [infrastructure-as-a-service] space, in a booming market with compound annual growth rates of over 40%. We believe in Gcore’s unique value proposition as a complete provider offering a wide range of edge solutions, high automation, attractive total cost of ownership, extremely low latency and an experienced management team. We look forward to a successful journey together in the years to come,” said its representative, Matthias Winter, managing partner of Constructor Capital.
“We are excited to invest in Gcore for its forward-thinking approach to global low-latency AI infrastructure and innovative AI solutions at the edge,” said Christopher Koh, South Korean managing partner at HRZ. “We are particularly impressed by their leadership in APAC, collaboration with world-class partners and strategic alignment with emerging AI opportunities in the region.” In April, Gcore announced the opening of Korea's first data centre powered by Nvidia’s 320 H100 with NHN Cloud, the country’s leading cloud provider.
This article was originally published in .