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Closing Series A funding

Announcing our closing of Series A funding round and way forward

November 10, 2023

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Bellevue, Washington – MangoBoost, Inc., a leading Data Processing Unit (DPU) and AI server infrastructure company, is excited to announce the successful closing of its Series A funding round. The funding round, led by IMM Investment and Shinhan Venture Investment and jointly backed by top investors including Korea Development Bank, KB Investment, IM Capital, and Premier Partners, has raised $55 million to support the company’s continued growth and innovation. All Seed round investors including DSC Investment, Stonebridge Ventures, and Must Ventures also participated in this round.

Since its inception in 2022, MangoBoost has been dedicated to boost the performance and cost effectiveness of datacenters. With a commitment to the exceptional DPU research accomplishments achieved over 10 years at a university laboratory, the company has quickly gained recognition in the server and datacenter industry and has attracted a growing customer base.

MangoBoost plans to employ the newly acquired funds to accelerate its development of multiple products that utilize its unique patent-pending DPU accelerator hardware IPs, composition flows, and full-system expertise. This includes enhancing off-the-shelf Field-Programmable Gate Array (FPGA) based full-stack DPUs, expanding the scope of fully-customized DPU solutions, and investing in cutting-edge DPU powered AI.

“This round of funding reflects our investors’ confidence in the immense opportunity we have in DPU and its contribution to making datacenters smarter. I am energized by the support of our seasoned investors. With this support, we will grow our business by providing a series of market-defining flexible DPU solutions to meet the various needs of modern datacenters. I am fully confident that MangoBoost is the only driving force to truly realize the ambitious goal,” said Jangwoo Kim, founder and CEO of Mangoboost.

"Mangoboost has assembled a remarkable team, positioning itself as a true leader in the DPU and AI infrastructure technology. The company's unwavering commitment to excellence and cutting-edge technology is truly inspiring. I am looking forward to working with Mangoboost and contributing to the company's continued growth and unparalleled success," remarked Hyejin Kim, the Managing Director of IMM Investment.

The Series A funding round signifies a significant milestone for MangoBoost, and the company is excited about the future as it continues to drive innovation, expand its reach, and serve its customers with excellence.

About MangoBoost, Inc

MangoBoost is a provider of advanced system solutions maximizing AI data center efficiency. Central to our wide array of solutions, the MangoBoost DPU enables cost-efficient, standards-based AI infrastructure by providing full compatibility with all commodity GPUs, accelerators and storage products, effective utilization of legacy infrastructure and an easy-to-use network system.

Founded in 2022 with 10 years of prior research published at top-tier conferences such as OSDI and ISCA, MangoBoost consists of more than 80 system architects, software engineers and FPGA/SoC engineers, many of whom hold a PhD from the world’s top research institutions and extensive industry experience at big techs.

MangoBoost has secured more than 60 million US dollars in funding and is rapidly expanding its presence in the United States, Canada and South Korea.

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