Databricks Receives $500 Million Investment

Data Analytics Databricks announced that it has received an investment of $ 500 million. The San Francisco-based startup raised $500 million in the Series I investment round led by T. Rowe Price. The startup increased its valuation to $ 43 billion with this investment. The amount of investment the startup has received so far has reached 4 billion. Funds managed by Andreessen Horowitz, ClearBridge Investments, Baillie Gifford, Counterpoint Global participated in the investment round. Franklin Templeton, NVIDIA, Fidelity Management & Research Company, Octahedron Capital, Capital One Ventures, GIC, Tiger Global and Ontario Teachers' Pension Plan (OTPP) also participated. The San Francisco-based venture was founded in 2013 by Reynold Xin, Ali Ghodsi, Arsalan Tavakoli-Shiraji, Patrick Wendell, Andy Konwinski, Matei Zaharia and Ion Stoica.

Also See: Treefera, Aiming to Protect Forests with AI, Receives $2.2 Million Investment

Databricks Will Cooperate with Nvidia

Databricks has experienced a reversal in recent times when late-stage startups have lost valuation. The San Francisco-based startup last received investment in August 2021. This investment took place as a Series H round. The San Francisco-based startup had a total of $ 1.6 billion in funding at a valuation of $ 38 billion in the Series H investment round. This investment round was led by Counterpoint Global within Morgan Stanley.

The most important reason why the startup increased its valuation by 5 billion dollars in 2 years is its close interest in artificial intelligence technologies. Databricks realises the clustering solution expressed as "Lakehouse" in the data world. It aims to collect all of the data in one place by training artificial intelligence to facilitate the work of companies. From this point of view, it can be said that NVIDIA investment is very important.

The technology of the future is artificial intelligence. Therefore, NVIDIA is among the most valuable companies in the world. Because artificial intelligence technologies are built with NVIDIA's chips. Based on all this information, the relationship between NVIDIA and Databricks can be understood more clearly. The San Francisco startup focuses on machine learning and datasets software. NVIDIA designs and provides the hardware technologies necessary to run Databricks' software. The startup has grown to more than 10,000 customers worldwide. In the second quarter, the startup's revenue exceeded $ 1.5 billion.