MangoBoost, a Seattle- and Seoul-based startup DPU (Data Processing Unit) developer, raised $55 million in Series A funding, bringing its total raised to $65 million.
SaaS Investors
The round was co-led by South Korean venture capital firms IMM Investment and Shinhan Venture Investment. Other participating investors include Korea Development Bank, KB Investment, Hong Kong-based IM Capital, and Premier Partners.
Founded in 1999, IMM Investment is a venture capital firm based in Seoul, South Korea. The firm prefers to invest in seed-stage, early-stage, and later-stage companies and also specializes in private equity, growth expansion, infrastructure, and mezzanine investments.
Founded in 2000, Shinhan Venture Investment is an investment firm based in Seoul, South Korea. The firm focuses on early-stage and later-stage investments.
MangoBoost Use of Funds
The company will use the funds to support product development and workforce expansion.
About MangoBoost
MangoBoost is a DPU and AI infrastructure firm that specializes in developing advanced server accelerators with complete software stacks. The firm develops DPU (Data Processing Unit) hardware and software solutions to help enterprises and data centers manage large volumes of data for workload optimization. Their DPU technology is designed to reduce power consumption, enhance performance, and improve cost efficiency and security.
Funding Details
Company: MangoBoost, Inc.
Raised: $55.0M
Round: Series A
Funding Month: October 2023
Lead Investors: IMM Investment and Shinhan Venture Investment
Additional Investors: Korea Development Bank, KB Investment, Hong Kong-based IM Capital, and Premier Partners
Company Website: https://mangoboost.io/
Software Category: AI-based Data Center Optimization
Source: https://techcrunch.com/2023/10/23/ai-based-data-center-optimization-startup-mangoboost-raises-55m-series-a