AI Data Platform WEKA announced $73 million funding led by Hitachi Ventures

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Weka

Weka, a California based provider of the data platform for Artificial Intelligence, has recently secured $73 million in funding.

Weka is founded by the Liran Zvibel. It is a data platform for achieving first to market results in AI/ML, high-performance computing, and life sciences research. It is used by eight of the Fortune 50 companies to solve big IT infrastructure issues to accelerate speed productivity and business outcomes.

Executive Opinion

Zack Keinan, Founding Partner of MoreTech Ventures, said, "WEKA’s unique unified software solution addresses the demands of operating in large, data-intensive environments to unlock the full potential of Artificial Intelligence and Deep Learning for Fortune-500 customers in finance, healthcare, life sciences, and GPU-enabled environments. With the explosion of unstructured data and the migration of AI workloads from on-prem to cloud, WEKA is delivering what its customers need better than anyone – a Data Platform for AI with unlimited scale and unrivaled performance."

Gal Gitter, Partner and Managing Director at Ibex Investors, said, "The sheer speed in which we see the Enterprise AI market is developing is staggering. We are seeing a massive increase in the use of AI/ML and HPC applications that are driving new products and services for enterprises. However, supporting these applications at scale entails really difficult storage challenges or tradeoffs. This is where WEKA comes in, enabling a tremendous acceleration for enterprises’ AI applications: from ingestion to cleansing to storage. WEKA has been adding customers and partners at an explosive pace, and we could not be more excited to back them. Simply put, if your enterprise is serious about AI – you need WEKA."

Weka's latest funding

Hitachi Ventures led the latest funding round for Weka. Other participating investors include NVIDIA, Hewlett Packard Enterprises, Cisco and Micron, and some financial investors, which includes the Key1 Capital, MoreTech Ventures, and Ibex Ventures.

The latest funding rounds brings the total amount secured to $140 million for the Weka.

The AI startup, as of now, has plans to use the new funds to accelerate go-to-market activities, engineering, and operations, notes the announcement.
PC: Pixabay

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Udit Agarwal Opinions expressed by techsutram contributors are their own. More details
Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.

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