Artificial intelligence (AI) startup CentML has raised $27m in a seed funding round led by Google‘s AI-focused venture fund Gradient Ventures.

The round was also joined by semiconductor company NVIDIA, Radical Ventures, Thomson Reuters Ventures and Deloitte Ventures.

Established in 2022, CentML offers a software platform to enhance the performance and cost-efficiency of deploying AI models.

With the platform, customers can gain real-time statistics, identify inefficiencies, and refine algorithms.

The need for CentML’s platform is underscored by the rise in demand for computational resources along with the use of AI and machine learning (ML).

In one case, CentML reduced costs by 60% by optimising the Llama 2 model to operate three times quicker on the previous generation of graphic processing units (GPUs), the startup claimed.

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Citing CentML co-founder and CEO Gennady Pekhimenko, TechCrunch reported that the funding will be used for product development and research initiatives.

In addition, CentML plans to expand its workforce of 30 employees operating across the US and Canada.

Pekhimenko said: “One of the essential challenges of AI today is achieving models that are fast and cost-effective to be viable at scale. CentML solves this problem. Our technology can speed up inference and training by as much as eight times, which has a profound impact for our customers.”

Gradient Ventures general partner Zach Bratun-Glennon said: “AI adoption creates demand for compute in new forms and scale unlike previous technology platforms. CentML’s ability to accelerate models, orchestrate workloads and optimise performance expands the frontier of AI model growth in the near-term and long-term.”