Home Breaking News California based start-up Pinecone raises USD 10 million

California based start-up Pinecone raises USD 10 million

California based start-up Pinecone acquires USD 10 million capital in the funding round led by Wing Venture Capital. Today the organization has come out of stealth and brought a new product to develop their ML database and capitalised the seed investment. 

Investors: Pinecone secured a capital of approximately USD 10 million in the seed round led by Wing Venture Capital. 

What the funding is for: The freshly acquired capital would be utilized for building and improving their machine learning database. According to reports they are also planning to expand their reach globally and would be focusing on advancing their technologies. 

Founders of the company: Wayne and Margaret Martin

Legal name of the company: Pinecone System Inc

Other name of company: HyperCube

Primary objective of the company: The organization aims to develop vector-based personalization search and ranking systems. The machine learning database is developed in such a manner that it is easy to use along with being fast, accurate and scalable with zero API maintenance. 

About the company: Pinecone is a privately held organization which functions under the computer software industry. Its headquarters is based in San Mateo, California and they have a work strength of around 11-50 employees. Pinecone is basically a completely managed vector database which provides performance and results without compromises. They allow engineers to build and develop real time machine learning applications and then launch them in less overhead. 

What the CEO has to say: “We started this company with this fundamental belief that the industry was being held back by the lack of wider access to this type of database. The data that a machine learning model expects isn’t a JSON record. It’s a high dimensional vector which is either a list of features or what’s called an embedding that’s a numerical representation of items or the objects in the world. This method is much more semantically rich and actionable for machine learning”. Said Margaret Martin, Co-founder of Pinecone. 

“The start-up spent the last couple of years building the solution, which consists of three main components. The main piece uses a vector engine to convert the data into machine learning ingestible format This is the piece of technology which contains all the data structures and algorithms which allows them to index very large workloads and throughputs. Finally, there is a management later to track all of this and manage data transfer between source locations”. Said Wayne, Co-founder of Pinecone.

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