Amsterdam-based Weaviate.io has announced its latest funding round. The company has raised $50m to expand its AI-native Weaviate vector database and cloud services. The funding round was led by Index Ventures and saw participation from Battery Ventures, NEA, Cortical Ventures, Zetta Venture Partners, and ING Ventures.
Weaviate raises $50M to expand its AI-native vector database
Developer of the Weaviate native vector database, Weaviate.io, has raised $50m in a funding round to expand its open-source offerings and develop new Weaviate Cloud Services in response to a rapidly-growing AI development market. Weaviate helps developers manage large amounts of AI-generated representation data. It is used by developers to generate, store, share, and search millions or even billions of vectors, often in real-time. The Weaviate ‘vector database’ is used widely for custom-made search and recommendation systems as well as ChatGPT plugins.
Simplifying AI development with the Weaviate database
Weaviate’s vector database simplifies vector data management for AI developers, solving the problem of generating, storing, and searching vectors and their corresponding objects. Capabilities of this vector database include built-in machine learning modules, richer search functionality, and high performance. Since the first series A funding in 2022, Weaviate has seen downloads pass the 2 million mark.
Weaviate Cloud Service and generative search support
Weaviate has recently launched a new Weaviate Cloud Service, which gives developers access to the Weaviate database without the operational overhead. It is available immediately and can be used for free for 14 days. The company has also introduced generative search support, making it easier for developers to meaningfully harness the power of large language models.
Weaviate has established itself as a leading provider of essential AI-native infrastructure through its vector-based database. It has been hailed as the best product on the market for developers building AI products by industry experts such as Battery Ventures’ Dharmesh Thakker. With its latest funding, Weaviate is poised to lead a revolution in vector databases, giving organizations critical tools to store, index, and retrieve unstructured data through vector embeddings.
