AI Startup Roundup: Open Source Database Developers Raise $50M

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Funding news

Weaviate

Based in Amsterdam, Netherlands, Weaviate created an open-source vector database that developers can use to store, share and search for vectors.

The database can be used in application creation, allowing developers access to search vectors and the source objects from which the vectors were generated.

The startup saw open source downloads pass the two million mark and has since launched a new cloud service, to give access to its data without operational overheads.

Latest funding: $50 Million, series B

Lead investor: Index Ventures

Other investors: Battery Ventures, NEA, Cortical Ventures, Zetta Venture Partners, ING Ventures

Funding plans: Weaviate said the capital will be used to expand its team and accelerate the development of its open source database as well as a new cloud service.

Mediwhale

A South Korean AI health diagnostics company, Mediwhale is building tech that uses retina scans to diagnose future cardiac and kidney disorder risks.

Mediwhale's Reti-CVD is a retinal-based solution that uses deep learning to estimate a patient's cardio vascular disease (CVD) risk as an adjunct to formal risk assessment tools such as heart CT scan.

Using a common fundus camera – which photographs the rear of an eye − combined with deep learning, Mediwhale’s solution can be used in a minute and can detect symptoms before they appear.

Latest funding: $9 million, series A

Lead investor: SBI Investment

Notable investors: Mayo Clinic, Arizona State University

Other investors: BNK Venture Capital, Innopolis Partners, IPS Ventures, Woori Venture Partners, HeartX Fund, Medaxiom and the HealthTech Arkansas Program

Funding plans: Mediwhale said it plans to accelerate the global commercialization of Reti-CVD. The startup also wants to enter the U.S. market, aiming for final FDA approval by 2024.

Tableland

New York-based company offering a permissionless relational database for web3 applications.

Built on the SQLite engine, Tableland’s tech enables developers to build relational data models for decentralized games, apps and NFTs.

Currently available in beta on Ethereum, Polygon, Arbitrum, and Optimism, the startup plans to announce Filecoin FVM integration in the coming weeks.

Latest funding: $8 million, series A

Lead investor: CoinFund

Other investors: Multicoin Capital, Blueyard, A Capital

Funding plans: The funds will be used to launch Tableland on mainnet, release new developer tools and roll out Tableland Studio later this year.

Betterdata

Betterdata is a Singaporean startup developing security tools to protect synthetic data.

Latest funding: $1.55 million, seed round

Lead investor: Investible

Other investors: Franklin Templeton, Xcel Next, Singapore University of Technology and Design, Bon Auxilium, Tenity, Plug and Play, Entrepreneur First.

Funding plans: The newly raised funds will go towards launching the company’s product as well as enhancing its programmable synthetic data technology stack.