VirtAITech Completes B+ Round of Financing

VirtAITech announced on Monday that it had completed its  B+ round of financing worth several hundred million yuan. This round of financing was led by CDB Equipment Fund under ProCapital. Previous shareholders Prosperity7 Ventures, Oriza Prior Venture GL Ventures, and Index Capital continued to act as exclusive financial advisers.

This is another financing completed by VirtAITech after its A+ round of financing in February and a B round of financing in July this year. It also marks the sixth round of financing completed by the company since its establishment three years ago. After this round of financing, the company plans to use the funds for new product R&D and to increase the market-oriented operation of its core products.

VirtAITech was established in Zhongguancun Science Park, Beijing, in 2019, and focuses on building an efficient AI computing resource pool and AI development platform for enterprise users.

VirtAITech’s OrionX AI computing resource pooling software can help users improve their utilization of AI computing resources and reduce TCO while improving the efficiency of algorithm engineers. Its GEMINI AI training platform provides customers with powerful AI computing management services and efficient algorithm development and training support.

In terms of industrial cooperation, since its establishment, VirtAITech has established close agreements with leading IT companies in the industry, including Dell EMC, Inspur, AWS, QingCloud, Rancher, DaoCloud, ZStack, Wingtech, iFlytek, and others.

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In terms of commercialization, in 2021, VirtAITech, Inspur and Cloopen jointly built the Intelligent Computing Center of Westlake University, with OrionX providing a pooled solution for the GPU server of Westlake University. Recently, China Securities and the Beijing Institute of Technology will both complete the deployment of OrionX.