Big investment in TileDB by the American Verizon Ventures
The pioneering database company received generous funding from the American investment giant in order to develop its services
The Greek TileDB, announced that Verizon Ventures has invested in the pioneering data company. The funding will be used to accelerate the development of the advanced features of the TileDB database and to scale up go-to-market operations. The amount, of course, has not been officially announced by either side.
The advent of 5G and IoT can transform any industry with new services that take advantage of a variety of data sources. These complex data types include cloud services, images, videos, location data, weather forecasts, and so on.
“I am very excited to be working with Kristina Serafim and the entire Verizon Ventures team! Several years ago we began a bold vision for building the impossible: a universal data management system. Such a solution comes to overturn everything we know about building efficient and cost-effective data infrastructure. A big thank you and congratulations to the entire TileDB team that is responsible for this excellent product and its dynamic.”, said TileDB Founder and CEO, Stavros Papadopoulos.
TileDB offers a database for storing any type of data in any backend (in the cloud or on-prem) and analyzing it with any programming language. TileDB consists of TileDB Embedded, an open-source storage engine for arrays, and TileDB Cloud.With its completely serverless infrastructure, TileDB provides access control and enables distributed computing on a global scale. TileDB, Inc. was launched by MIT and Intel Labs in May 2017 and is supported by Two Bear Capital, Nexus Venture Partners, Uncorrelated Ventures, Intel Capital and Big Pi. The primary idea, of course, as well as the founders of TileDB come from Greece.