Datacenter analytics startup attracts funds, big name directors

October 04, 2021 // By Peter Clarke
Datacenter analytics startup attracts funds, big name directors
Fabless analytics processing company Speedata Ltd. has raised $55 million in a Series A round of finance and attracted Lip Bu Tan, and Eyal Waldman to join its board of directors.

The amount of big data analytics performed in data centers is growing exponentially. Speedata (Netanya, Israel) is working on a dedicated processor for optimizing cloud-based database and analytic workloads. The company, founded in 2019, says its analytics processor unit (APU) has a scalable architecture that addresses three bottlenecks in analytics – I/O, compute and memory – while being compatible with legacy software and requiring no changes to an enterprise's code or existing framework.

The Series A brings the amount of money raised by Speedata to $70 million and was led by

Walden Catalyst Ventures, 83North, and Koch Disruptive Technologies (KDT), with participation from existing investors Pitango First , Viola Ventures  and prominent individual investors including Eyal Waldman, co-founder and former CEO of Mellanox Technologies.

Both Waldman and Lip-Bu Tan, managing partner of Walden Catalyst Ventures, chairman of Walden International and CEO of Cadence Design Systems Inc., will join Speedata's board of directors.

"Analytics and database processing represents an even bigger workload than AI with regard to dollars spent. That's why industries are anxiously seeking solutions for accelerating database analytics, which can serve as a huge competitive advantage for cloud providers, enterprises, datacenters, and more," said Jonathan Friedmann, CEO and co-founder of Speedata, in a statement. "However, current processing units aren't designed to manage today's workloads. Our amazing team of academic and industry leaders has built a dedicated accelerator that will change the way datacenter analytics are processed – transforming the way we utilize data for years to come."

In the same statement Eyal Waldman said: "Much like Nvidia's GPU revolutionized the AI space, Speedata's unique APU will transform database computing."

Related links and articles:

www.speedata.io

News articles:

NeuReality eyes datacenter AI with $8 million seed funding

Cadence to replace Lip-Bu Tan as CEO

Cloud networking startup emerges with $116 million in funding


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