Weka Raises $140M in Series E Funding at $1.6B Valuation

Weka

Weka, a Campbell, CA-based AI-native data platform company, raised $140M in Series E funding, at a $1.6M valuation.

The round was led by Valor Equity Partners, with participation from Generation Investment Management, NVIDIA, Atreides Management, 10D, Hitachi Ventures, Ibex Investors, Key1 Capital, Lumir Ventures, MoreTech Ventures, and Qualcomm Ventures. Under the terms of the deal, Valor’s founder, CEO and Chief Investment Officer, Antonio Gracias, will join WEKA’s board.

The company intends to use the funds to increase its cash reserves, scale its business rapidly to meet global demand for AI-native data infrastructure while expanding its investments in developing its data platform software and providing liquidity to WEKA employees.

Led by CEO Liran Zvibel, Weka provides a data platform featuring a cloud and AI-native architecture that can be deployed anywhere, providing data portability across on-premises, cloud, and edge environments. It transforms legacy data silos into dynamic data pipelines that accelerate GPUs, AI model training and inference, and other performance-intensive workloads, enabling them to work more efficiently, consume less energy, and reduce associated carbon emissions.

Over 300 of the world’s largest AI and GPU deployments are running on the WEKA® Data Platform.

Commenting on the news,  Liran Zvibel said: “We are grateful to our returning backers for their support and are honored to welcome Antonio Gracias to our board of directors. Antonio has played a pivotal role in helping build some of the world’s most innovative and disruptive companies. We look forward to collaborating with him as we scale to create new value for WEKA’s customers, partners, and shareholders.”

FinSMEs

15/05/2024