AI Startup Decart Valued at $500M After Impressive Funding and Product Launches
December 20, 2024The company plans to release version 1.5 of Oasis soon, enabling users to create and share entire virtual worlds.
Decart has developed an AI infrastructure platform that enhances the training of large AI models, improving efficiency tenfold while reducing costs.
Leitersdorf has ambitious goals to build a trillion-dollar company, aiming to compete with major AI players like OpenAI and Anthropic.
Decart is also focused on enabling augmented reality and virtual reality experiences through software solutions, avoiding the complexities of hardware development.
Founded in late 2023 by Dean Leitersdorf and Moshe Shalev, both veterans of the IDF's Intelligence Division, Decart is a promising new player in the AI landscape.
Emerging from stealth mode less than two months ago, Decart aims to establish a fully vertically integrated AI research lab.
The startup recently raised $32 million in a Series A funding round led by Benchmark, following a $21 million seed round from Sequoia Capital and Zeev Ventures.
With this latest funding, Decart's post-money valuation has skyrocketed to over $500 million, a significant increase from its seed round valuation.
Decart has launched two primary products: an AI efficiency tool for enterprises that optimizes GPU usage and a video game called 'Oasis', both generating substantial revenue.
Their GPU optimization software has attracted attention by dramatically reducing operational costs from $100 per hour to as low as 25 cents.
Currently operating on Nvidia's H100 GPUs, Decart plans to transition to the upcoming Sohu AI chip from Etched Inc. for better performance.
Oasis, inspired by 'Minecraft', has gained millions of users since its launch, showcasing Decart's innovative AI world model.
Summary based on 3 sources
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Sources
TechCrunch • Dec 19, 2024
Decart adds $32M at a $500M+ valuation to build AI tech and 'open world' apps | TechCrunchSiliconANGLE • Dec 19, 2024
AI world model startup Decart reels in $32M - SiliconANGLE