MindsDB Raises Additional $25 Million in Funding 

by Kay Aloha Villamor in June 2nd, 2023

MindsDB, a Berkeley, CA-based cloud for serving artificial intelligence logic, announced that it raised an additional $25 million in financing, bringing total seed capital raised to $41.5 million and total funds raised to $50 million. 

The round was led by new investor Mayfield, along with participation from TQ Ventures and existing investor Benchmark Capital. With the investment, MindsDB will enable to continue to accelerate the expansion of its AI-Logic Cloud platform.

The company plans to use the additional capital to continue to nurture its community, expand its AI-Logic product capabilities, support its growing base of customers, and grow into a cornerstone of the new AI web.

MindsDB is a cloud for serving artificial intelligence logic, enabling organizations to ship AI-powered applications from prototyping & experimentation to production in a fast & scalable way. 

"MindsDB is possible because of the incredible open-source community behind it, which has spent 5 years constantly testing and perfecting our technology. We are excited to be the most production-grade AI development solution in the market, accessible to companies of all sizes. So, whether your company has one or ten thousand developers needing to build and ship AI-First Applications, MindsDB is here to help” said Jorge Torres, co-founder and CEO of MindsDB.’

MindsDB's platform, available in both open-source and managed-cloud versions, brings an intelligence layer between disparate data sources and AI frameworks, using a streamlined deployment and management workflow.

Company: MindsDB, Inc.

Raised: $25.0M

Round: Seed Round

Funding Month: June 2023

Lead Investors: Mayfield

Additional Investors: TQ Ventures and Benchmark Capital

Company Website: https://mindsdb.com/

Software Category: Data Science & Machine Learning Platforms

About the Company: Founded in 2017 by Adam Carrigan and Jorge Torres, MindsDB is an open-source machine learning (ML) startup that brings ML to the database. The company's platform offers a predictive artificial intelligence layer for existing databases, which allows organizations to apply machine learning to their data. Its platform allows users to utilize their data to make forecasts by offering a machine learning system that can be integrated into a user's database. With MindsDB, users can build, train, optimize, and deploy their ML models without needing other platforms, and the models can be used to get forecasts, query their data, and query their ML models. MindsDB is a fully remote, international company, that based in the US, UK, Colombia, North Macedonia, Romania, New Zealand, Germany, Chile, Canada, Ukraine, Russia, and Egypt.

Source: https://mindsdb.com/newsroom/mindsdb-raises-25-million-led-by-mayfield-to-supercharge-developers-with-its-cloud-for-serving-artificial-intelligence-logic

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