BERLIN & OSLO, Norway & SANTA CLARA, Calif.--(BUSINESS WIRE)--Swarm64, provider of the scalable data accelerator (SDA), which enables relational databases to perform real-time big data analytics, has secured a Series B funding round of 12.5 million US dollars. The Series B round was led by Intel Capital and Investinor; Alliance Venture and Target Partners participated in the round.
“We are very glad to welcome Intel Capital as a new investor. The cooperation with Intel will help us serve a global market with the most advanced technology.” says Karsten Rönner, CEO of Swarm64. “Many industries face an explosion in their data processing needs, be it from growing numbers of connected ‘things’, expanding business models that include data analytics or staying competitive in markets with ever higher data processing needs. The Swarm64SDA enables anyone with basic skills in relational databases to gain deep new business insights in less time.”
“Along with Swarm64, Intel is shortening our customers’ time to insights in a world of ever more connected devices and accelerating flows of data,” said John Sakamoto, vice president of the Programmable Solutions Group at Intel and general manager of its Data Center and Communications Division. “Leveraging Intel FPGAs and Xeon processors, Swarm64 is accelerating database operations to deliver these faster results for businesses.”
Director Don Faria led the investment for Intel Capital.
“Swarm64 addresses a billion-dollar market opportunity,” says investment director Jon Øyvind Eriksen of Investinor. “The global in-memory computing market is estimated to be worth $31 billion USD by 2018, according to market analysts. Relational databases and SQL continue to be the backbones for data analytics in the enterprise, but present SQL databases are inadequate for processing large amounts of high velocity data within real-time limits.”
Bente Loe, partner at Alliance Venture, says, “We recognized Swarm64’s potential early and have been supporting the company since the seed-stage. Now we are excited to back the company during its growth phase”.
Michael Münnix, partner at Target Partners, adds “Swarm64 developed a disruptive approach to accelerate relational databases. The technology provides orders of magnitude faster performance, bringing real time applications to a broader commercial market. I look forward to continue working with such a great team.”
Swarm64 AS (swarm64.com) provides the Scalable Data Accelerator that enables relational databases to perform real-time analytics for high velocity and big data. Swarm64’s team is world-class in FPGA design and the development of real-time database software. The company was founded in 2013 and is backed by leading venture investors from the US, Norway and Germany. Swarm64 is a Norwegian company with operations in Berlin, Germany.
About Intel Capital
Intel Capital invests in innovative startups targeting 5G connectivity, the data center, artificial intelligence, merged reality, autonomous driving and a wide range of other disruptive technologies. Since 1991, Intel Capital has invested US $12.2 billion in 1,500 companies worldwide, and more than 640 portfolio companies have gone public or been acquired. Intel Capital curates thousands of business development introductions each year between its portfolio companies and the Global 2000. For more information on what makes Intel Capital one of the world’s most powerful venture capital firms, visit www.intelcapital.com or follow @Intelcapital.