Lithuanian Cast AI raised $20M

Vilnius and Maiami-based AI-driven cloud optimization platform Cast AI raised $20M from Swedish commercial music streaming service Spotify, US graph database platform neo4j, Swedish early-stage venture capital firm Creandum, and some investors from previous rounds.

CAST AI’s platform helps Amazon Web Services, Google Cloud Platform and Microsoft Azure customers manage their cloud infrastructure more optimally by automating resource allocation and optimization. The platform uses machine learning algorithms to analyze resource usage patterns and make real-time adjustments. The clients of CAST AI have to connect their Kubernetes clusters to the platform to see suggested recommendations and use techniques for cost reduction.

The startup will use funds for further establishment on the global market, and for the development of new solutions and expansion platform capabilities to more cloud-native ecosystems and use cases.

Among Cast AI clients are Hitachi, Forbes, Delio, Surfshark, and others. The company was founded in 2019 by Yury Freiman, Laurent Gil, and Leon Kuperman. In 2018, the startup’s founders sold their previous company Zenedge (provider of cloud-based AI-driven cybersecurity solutions) to Oracle.