MangoBoost raises $55M in Series A

Global chipmakers, faced with a COVID-induced chip shortage, are exploring alternatives to standard chips. In the quest for cost efficiency and productivity at the chip level, DPUs are becoming increasingly relevant.

One such DPU developer, MangoBoost, recently raised $55M in a Series A funding round for its DPU hardware and software solutions.

• DPU (Data Processing Unit): A relatively new player, the DPU offloads communication networking from CPU or GPU, optimizing workloads for cloud and data centers and reducing costs associated with the usage of CPUs and GPUs.

• MangoBoost's Breakthrough: Seattle- and Seoul-based startup MangoBoost has developed a DPU solution that claims to offer three times higher performance than existing solutions and reduce CPU usage by up to 95% when used with Samsung’s Petabyte SSD storage system. This valuation puts the company at an estimated $300M.

• Utilizing the Investment: The fresh capital will be utilized to boost their product development including DPU hardware IP, DPU software, FPGA-based DPU, ASIC-based DPU, AI-based DPU, customized DPU solutions and DPU-enhanced systems. It will also support their aim to double their workforce by next year, with a focus on their R&D team.

• MangoBoost's Differentiating Factor: MangoBoost's CEO, Jangwoo Kim, underscores the company's key selling point: a comprehensive and customizable DPU feature set that can meet each customer's specific needs. This includes AI server DPU, big data server DPU and cloud server DPU.

• The Competitive Landscape: The DPU market is becoming fiercely competitive with big players like Intel, Nvidia, AMD, Amazon, and Microsoft investing in DPU technologies. MangoBoost stands out with its tailored DPU solutions and is currently in discussions with potential customers for partnerships.

MangoBoost recently presented its collaboration with Samsung at OCP Summit 2023. The company showcased how its customized DPU solution enhances Samsung’s Peta Byte storage.