Optimizing AI, Powering Growth: How CentML is Making AI More Efficient and Supporting the Next Generation of Canadian Innovators

Artificial intelligence is transforming industries, but challenges in AI adoption still present barriers to innovation. The race to leverage the power of Generative AI models like ChatGPT has driven demand for computing resources, with top-of-the-line graphics processing units (GPUs) being snapped up by global tech giants. Meanwhile, many companies—particularly startups—are left struggling to access the compute power and the engineering resources they need to deploy machine learning models at scale.

CentML, a Toronto-based AI infrastructure company led by Gennady Pekhimenko, is addressing this challenge head-on. CentML has developed a way to optimize AI performance on an easy-to-use platform that lets customers easily experiment with cutting-edge models. By maximizing compute efficiency and simplifying deployment, CentML enables businesses to deploy AI-driven applications faster and at a fraction of the cost.

The company’s approach has caught the attention of major players in the AI and technology ecosystem. In 2023, CentML secured $37 million in funding from Google, NVIDIA, Radical Ventures, Deloitte, and Thomson Reuters Ventures, marking a significant validation of its innovative approach to AI optimization. While CentML is building a world-class platform for AI development and deployment, it is also committed to fostering the next generation of Canadian innovators. The company recently announced its participation in the University of Toronto Startup Perks initiative, providing eligible participants in the University of Toronto Entrepreneurship (UTE) program with $500 in free platform credits for AI development and deployment.

“For startups, access to affordable, powerful AI tools is one of the biggest hurdles to growth,” says Gennady Pekhimenko, CEO of CentML. “By supporting the next wave of founders through this initiative, we’re helping to ensure that Canadian entrepreneurs have the resources they need to build and scale AI-driven businesses right here at home.”

As a Canadian company, CentML understands the importance of efficient financial management, particularly for fast-growing firms in capital-intensive sectors like AI. To track spending and manage growth, CentML relies on Float, a Toronto-based financial platform offering corporate cards and spend management solutions tailored for high-growth businesses.

“Fast-scaling Canadian companies need to support each other,” says Ruslan Nikolaev, Co-founder at Float. CentML is proving that world-class AI innovation can be built in Canada, and as they scale, we’re proud to help them manage their financial operations — from corporate cards and bill pay to earning 4% interest on cash. Supporting Canadian tech means building an ecosystem where great companies can thrive together.”

With AI becoming an increasingly critical driver of innovation across industries, making AI development more efficient and accessible is key to ensuring that Canadian businesses remain competitive on the global stage. CentML is proving that Canadian innovation doesn’t just happen at the application level—it’s happening in the infrastructure that powers AI itself. By optimizing AI deployment and giving back to the startup community, CentML is not only solving one of AI’s biggest challenges—it’s reinforcing Canada’s reputation as a global leader in artificial intelligence and advanced computing.

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This article is part of CCI’s new “By Canadian Innovators” series, which showcases how members of the Council of Canadian Innovators work with homegrown companies to fuel their growth and make Canada more prosperous. Each story in this series highlights the unique contributions of these companies to building a more prosperous, innovation-driven economy. To learn more about the companies CCI works with to build a more prosperous Canada, visit our member directory.