Bitfusion Lands $5 Million in VC Funding

Bitfusion, an Austin-based startup, announced Tuesday that it has received $5 million in venture capital funding.

Vanedge Capital led the Series A round with participation from new investor Sierra Ventures and existing investors Data Collective, Resonant VC and Geekdom Fund.

Bitfusion, which participated in the 2015 Techstars Cloud program in San Antonio, makes specialized software that brings supercomputing performance to a variety of hardware devices to allow them to run any kind of application.

In addition to the funding, Bitfusion announced the beta availability of its software, Bitfusion Flex. The software lets artificial intelligence developers work quicker and more efficiently by scaling and sharing on-demand compute power.

Bitfusion co-founder and CEO Subbu Ram, courtesy photo.

“The promise of AI and deep learning is immense, but in practice, leveraging GPUs, FPGAs and other compute architectures for performance presents huge challenges for AI developers,” Subbu Rama, co-founder and CEO of Bitfusion said in a news release. “By providing an end-to-end solution focused on the unique needs around AI development and deployment, we are enabling companies to leverage these efficient architectures with very little effort. This massively accelerates time to business value for AI initiatives.”

Bitfusion raised a seed stage round of $1.45 million in 2015. The company also has offices in Silicon Valley.

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