Home Artificial Intelligence Global startup funding news: Artificial Intelligence

Global startup funding news: Artificial Intelligence

These are the latest Artificial Intelligence startups to secure funding recently:

Dremio secures US$ 135 million Series D investment

Dremio Logo

A Santa Clara, California based artificial intelligence enterprise, Dremio that empowers business users for curating the data they require from data sources secured US$ 135 million series D funding on 6 January 2021. The recent funding round that brings the valuation of the company to US$ 1 billion follows a US 17 million funding round led by American VC insight partners in March last year. 

Recent funding round was led by Sapphire Ventures and included participation from existing investors of Enterprise Lightspeed Venture Partners, Redpoint Ventures, Cisco Investments, Insight Partners and Norwest Venture Partners. 

Dremio plans to use the investment for expanding their engineering excellence centers globally, growing the customer focus organization, investing in growing and educating data lake practitioners’ community and contributing for the open source Initiatives. 

Billy Bosworth, Dremio CEO said, “There is a challenging story before the story when it comes to data warehouses, and that is the process of copying, moving and synchronizing data. Dremio’s technology fundamentally simplifies workflows, allowing analytics directly on your full data set, stored in industry-standard open formats, residing in native cloud storage. We are pleased to have Sapphire Ventures on the investor team to help make that possible.”

Media Distillery secures €3 million funding

Media Distillery Logo

Amsterdam, Noord, Holland based company, Media Distillery that employs artificial intelligence for figuring out the content inside videos for video organizations and global television secured €3 million funding on 7th January 2021. 

The investment was led by a group of entrepreneurs and international TV and broadcast industry executives. 

Media distillery is planning to use the investment for accelerating their workforce, international business growth and scaling the research and development team that work on various content discovery solutions.

Roland Sars, Media Distillery CEO said, “The commercial potential of creating a ‘sticky’ video environment is enormous when consumers are engaged to a video platform that is personalized to one’s interests and when they can discover relevant content in the blink of an eye. Media Distillery’s use of AI technology to tackle these matters and gives video platforms the opportunity to set themselves apart from competition and boost viewership metrics.”

Caveonix brings in US$ 7 million Series A investment

Caveonix Logo

Caveonix, a Falls Church, Virginia based artificial intelligence and hybrid cloud risk management, protection company closed a US$ 7.3 billion Series A funding round on 5th January 2021.

The recent investment round was led by first in capital and was also joined by the early investors of the automated compliance and security posture management company. 

With the proceeds of this new investment, the company will continue their expansion in various areas of product as well as business development. They are preparing for launching their new SaaS-based platform Caveonix Cloud, in several partner networks and main markets.

Tim Sullivan, Caveonix Co-CEO said “Our goal at Caveonix is to accelerate digital transformation for our customers by providing them the continuous monitoring and compliance they need in hybrid and multi-cloud environments. This industry continues to evolve, and Caveonix will evolve with it, offering the risk management solutions needed to secure cloud-based environments and mitigate risks. We feel fortunate to have the ability to move forward more rapidly thanks to this round of funding.”

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