VAST Data, a New York-based data infrastructure company, established its Asia Pacific headquarters in Singapore.
- Company Overview: Founded in 2016, VAST Data offers a data computing platform facilitating AI model training through the storage and synthesis of large volumes of unstructured data, such as images and videos.
- Series E Funding: This expansion comes four months after VAST Data concluded a Series E funding round, securing US$118 million, which brought the total fundraising amount to US$380 million and its valuation to US$9.1 billion. Leading investors included Fidelity Ventures, Nvidia, Goldman Sachs, Tiger Global, among others.
- Choice of Singapore: Singapore was chosen as the regional headquarters due to its established status as a data center hub. The presence of specialized cloud service providers (CSPs) catering to demands for GPU-powered offerings further influenced this decision.
- Future Plans: Sugar.fit intends to utilize the newly secured funds to enhance brand presence and strengthen research and development efforts.
VAST Data anticipates heightened interest in its offerings across various sectors, including governments, financial services, insurance, banking, research, and academia, as it expands in the Asia Pacific region. The company’s expansion into Singapore underscores its commitment to pioneering data infrastructure solutions and meeting the evolving needs of industries.