Sistema VC, the venture arm of the Russian conglomerate Sistema, has taken part in a $26.4 million Series B round for SQream, a New York-headquartered startup offering a GPU database “for fast, scalable SQL analytics.” Announced on May 30, the round was led by Alibaba Group with participation from existing and new investors including Hanaco Venture Capital, World Trade Ventures, Paradiso Ventures, Glory Ventures, and Silvertech Ventures.
The round brings the funding raised by the startup so far to $37.6 million in total, according to CrunchBase.
The startup claims that its analytical database “enables companies to analyze up to 20 times more data, up to 100 times faster, at as little as 10% of the cost and administration” than others.
Using “the power of thousands of parallel processing cores in NVIDIA GPUs,” the company offers “unparalleled power and flexibility to explore and analyze massive amounts of data.” Its solution allows its users “to easily ingest, store and analyze tens to hundreds of terabytes of data and more with significantly reduced infrastructure and manpower resources.”
Founded by three Israeli entrepreneurs Ami Gal, Kostya Varakin, Razi Shoshani in 2010, the New York-based company has its R&D office in Tel Aviv, Israel.
Earlier this month Sistema VC announced an investment in US-Russia startup TraceAir.
See the full scoop over at East-West Digital News: https://ctrlshift.co/2018/05/31/sistema-vc-teams-up-with-alibaba-group-to-invest-in-us-based-big-data-startup/