Seoul, South Korea - Moreh has closed a $22 million Series B funding round, attracting attention from U.S. semiconductor company Advanced Micro Devices (NASDAQ: AMD) and KT (NYSE: KT).
South Korean venture capital firms Smilegate Investment and Forest Partners also participated in the round.
The funds will support Moreh's AI infrastructure solutions, particularly its flagship MoAI software, an alternative to Nvidia's CUDA platform.
The Key Points
The need for robust AI infrastructure is growing as companies find existing IT frameworks need to be revised for training large-scale AI models, especially amidst a global GPU shortage.
KT, a partner since 2021, cites Moreh's technological capabilities as a key investment rationale.
Test data shows that MoAI paired with AMD GPUs outperforms Nvidia's DGX regarding speed and GPU memory capacity.
Specifically, AMD's MI250 Instinct accelerator with MoAI showed a 116% increase in GPU throughput compared to Nvidia's A100.
What They Say:
Brad McCredie, AMD's corporate vice president, notes that Moreh expands the software ecosystem that complements AMD's AI hardware.
Gangwon Jo, CEO of Moreh, highlights MoAI's ability to handle large-scale AI infrastructure efficiently.
What's Next?
Last year marked Moreh's first revenue generation, and the company is targeting an estimated $30 million in revenue by the end of 2023.
The Series B funding will primarily be used for research and development, expanding the product line, and scaling the current team of 70.
In addition, Moreh's Korean language-based large language model with 221 billion parameters is expected to be open-sourced later this year.
