The Best New AI Products

MangoBoost Raises $55M Series A for Data Center Optimization Solutions

The Seattle- and Seoul-based startup, MangoBoost, has raised $55 million in a Series A funding round for its innovative Data Processing Unit (DPU) hardware and software solutions. These solutions empower enterprises and data centers to efficiently manage vast quantities of data while optimizing workloads. With this funding, the one-year-old startup aims to expand its product offerings, double its workforce, and continue enhancing DPU technology.

The DPU, which offloads communication networking from CPUs and GPUs, can significantly reduce power consumption and improve performance in data centers. MangoBoost claims that their DPU achieves threefold higher performance than existing solutions and reduces CPU usage by up to 95% when used in conjunction with Samsung’s Petabyte SSD storage system.

Competition in the DPU market is fierce, with major tech companies and semiconductor giants like Intel, Nvidia, AMD, Amazon, and Microsoft investing in DPU vendors to enhance data center optimization. MangoBoost sets itself apart by offering an extensive and customizable set of DPU features, including AI server DPU, big data server DPU, and cloud server DPU.

The funding was co-led by South Korean venture capital firms IMM Investment and Shinhan Venture Investment, with participation from Korea Development Bank, KB Investment, Hong Kong-based IM Capital, and Premier Partners. MangoBoost is currently in discussions with potential customers for partnerships and recently presented its collaboration with Samsung at OCP Summit 2023.