Greek database company TileDB received two strategic investments from Silicon Valley-based Lockheed Martin Ventures and Japanese NTT Docomo Ventures. Without disclosing the amounts of the investments, the company said that the funding will be used to develop their universal database, as well as to continue key projects.
Last year, TileDB raised €13M from both Greek and foreign investors, in what has been one of the largest Series A venture rounds by Greek businesses. Investors in the company also include US fund Two Bear Capital, India-based Nexus Venture Partners, Intel Capital, a division of the Intel Corporation, and Greek-based Big Pi Ventures.
Advanced data management
TileDB main products are an open-source storage engine and a cloud-based data management platform. Founded in 2017, the company’s universal database uses multi-dimensional arrays to model and store any type of data on any backend and analyze it with any programming language and tool.
The company’s products can be very useful for data scientists and analytics professionals.
Arrays are the most common data structure for any type of data science or advanced analytics, and standardizing on a single logical way to work with multiple forms of data allows TileDB to offer superior performance, elastic scalability, extreme interoperability, and global-scale collaboration, the company said in a statement.
“The TileDB team is excited to work with expert engineers and scientists at these leading organizations targeting insanely difficult problems. This is about pushing the boundaries of data management by redefining it”, TileDB’s founder and CEO Stavros Papadopoulos said in a statement .
“We get to prove that diverse use cases can be addressed with a unified, foundational solution.”, Papadopoulos added.
Papadopoulos’s past experience includes working for Intel and being a researcher at MIT from 2014 to 2017. It was in 2017 when he decided to create a spinoff of the software, used by companies for genetics research.
According to Chris Moran, Vice President and General Manager of Lockheed Martin Ventures, they are excited to invest in TileDB.
“As the volume and velocity of data critical to our customers and industry partners increases, Lockheed Martin recognizes the crucial role that advanced data management systems play in this evolution,” Moran said.
Same goes for NTT Docomo Ventures, whose cooperation and funding for TileDB will aim for processing and data management improvements.
“Our R&D team developing Mobile Spatial Statistics, population statistical data generated from mobile network operation data, is working with TileDB to handle time-series data modeled as versioned, sparse arrays”, Yuko Sasahara, CEO of NTT DOCOMO Ventures, said in a statement.