Home » “WEKA Secures 0 Million in Series E Funding with .6 Billion Valuation”

“WEKA Secures 0 Million in Series E Funding with .6 Billion Valuation”

by Dubaiforum

WekaIO, an AI-native data platform company, has achieved unicorn status after raising 0 million in an oversubscribed Series E funding round led by Valor Equity Partners. This funding round also saw participation from NVIDIA, Generation Investment Management, Atreides Management, and other investors.

The funding round has boosted WekaIO’s post-money valuation to .6 billion, providing the company with additional financial resources to scale its business rapidly and meet the increasing global demand for AI-native data infrastructure. The funds will also support the development of its data platform software and provide liquidity to WekaIO employees.

With over 300 of the world’s largest AI and GPU deployments already running on the WEKA® Data Platform, this investment comes at a time of significant growth for the company. WekaIO plans to expand its operations to address the growing global demand for modern data infrastructure capable of supporting advanced technologies like generative AI and high-performance GPUs.

According to Intekhab Nazeer, WekaIO’s chief financial officer, the recent surge in generative AI and enterprise cloud adoption has driven a sharp increase in customer demand, resulting in numerous significant deals. The company’s software-based business model has proven successful in securing high-value contracts.

One notable aspect of WekaIO’s Series E round is that it was entirely funded by existing investors, highlighting their confidence in the company’s future growth potential. Antonio Gracias, CEO, and Chief Investment Officer of Valor Equity Partners, will be joining WekaIO’s board, bringing his expertise to the company’s strategic decision-making process.

Since its inception in 2013, WekaIO has revolutionized the enterprise data stack, setting new standards for modern data infrastructure in the AI era. The company’s software can be deployed across various environments, delivering unmatched speed, simplicity, scale, and sustainability for GPUs, AI, and other performance-intensive workloads.

Antonio Gracias of Valor Equity Partners emphasized the significance of WekaIO’s software-based approach, which has been tested and proven in some of the largest and most demanding AI projects globally. He believes that WekaIO is poised to play a crucial role in advancing artificial intelligence technology in the future.

Overall, WekaIO’s Series E funding round underscores the company’s commitment to innovation and its dedication to providing cutting-edge solutions for modern data infrastructure. With the support of its investors, WekaIO aims to continue creating value for its customers and stakeholders while driving growth and scalability in the AI industry.

You may also like

About Dubai Forum

Dubai Forum: your daily source for the latest news from Dubai, the United Arab Emirates, and the broader Middle East region. Our coverage includes updates on people, lifestyle, communities, business, startups, and finance, keeping you informed on all facets of the dynamic Dubai scene. #Dubaicommunities #people #travel #startups #DubaiForum