[DigitalToday reporter Chi-gyu Hwang] Cloud infrastructure startup Railway has raised $100 million in a Series B funding round, SiliconANGLE reported on Jan. 23 local time.
The round was led by TQ Ventures, with participation from FPV Ventures, Redpoint and Unusual Ventures.
Railway helps developers deploy applications quickly without complex cloud configuration. Traditional cloud infrastructure cannot keep pace with the speed of AI development and creates bottlenecks, but Railway is building a "zero-operations" cloud and is trying to solve the problem, SiliconANGLE reported.
It charges only for the resources a company uses, providing savings of 65 percent compared with existing options, and early adopters saw development speed increase 10-fold, the company said.
Tripadvisor, MGM Resorts, Intuit GoCo and thousands of AI startups are using Railway. Railway plans to use the funding to expand global data centers, grow its team and accelerate development of AI optimization tools.
Chi-gyu Hwang
delight@d-today.co.kr