Hopsworks Secures $6.5 Million in Funding

by Kay Aloha Villamor in July 5th, 2023

Hopsworks, a Stockholm, Sweden-based platform for data-intensive artificial intelligence with a Python-centric enterprise feature store, secured a $6.5 million funding round.

The round was led by Vendep, with participation from Inventure and Industrifonden.

The proceeds from the funding round will be utilized to expand Hopsworks' commercial operations and strengthen its presence, particularly in the US market. Additionally, the funds will be used to further enhance the company's technological advancements, solidifying its position as a leader in the field.

The company offers an operational AI platform that centralizes and governs the data used in AI models, enabling real-time AI capabilities.

“Hopsworks is very well positioned with an advanced machine learning platform, a top notch engineering team based in Stockholm, and early enterprise customer traction validating product maturity and customer demand. I am excited about the growth opportunity and ability to make an impact on such an excellent company, says Lars Nordwall, Executive Chair of the Board of Directors at Hopsworks.

Hopsworks is available as a managed platform on AWS, GCP, and Azure, a self-managed version that can be deployed on any data center, and as a serverless feature store at app.hopsworks.ai. 

Company: Hopsworks AB

Raised: $6.5M

Round: Unknown 

Funding Month: June 2023

Lead Investors: Vendep

Additional Investors: Inventure and Industrifonden

Company Website: https://www.hopsworks.ai/

Software Category: Operational AI Platform

About the Company: Hopsworks is the Operational AI Platform company that builds Hopsworks, the enterprise feature store for machine learning. With offices in Stockholm, London, and Palo Alto, Hopsworks has set out to make machine learning easy for every company, providing tools for data scientists and engineers to manage features and develop/deploy models in production. The platform has garnered industry recognition, with notable customers such as American-First Credit Union, PaddyPower-Betfair, and the Swedish Public Employment Service.

Source: https://www.globenewswire.com/en/news-release/2023/06/29/2696702/0/en/Hopsworks-reports-record-growth-and-raises-6-5M.html


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