Swarm64 AS, the Oslo- and Berlin-based data acceleration startup, has raised a total of €7.1 million from lead investors Alliance Venture, Target Partners and Investinor. The funds will be used for market entry and team building in regards to the US market.
“We recognized Swarm64’s potential early and have been supporting the company since the seed-stage. Now we are excited to back the company during its growth phase,” says Bente Loe, partner at Alliance Venture.
Swarm64 has been developing a hardware and software solution that scales databases in size and speed to exceed their current limitations. There is significant business value in combining the speed and real-time aspects of transaction processing with the ability to answer complex analytic queries in seconds. Swarm64 offers these capabilities integrated in a single system, thereby eliminating the complexity of multiple solution integration. Scalable Data Accelerator (SDA) and its database extensions will contribute to the professionalization of open source databases.
“Swarm64 has a disruptive new approach to database acceleration, providing orders of magnitude faster performance to the broader commercial market. Great team, great product,” says Kurt Müller, partner and co-founder of Target Partners.
Swarm64 was founded by Eivind Liland, one of the developers of the ARM Mali mobile GPU, Thomas Richter and Alfonso Martínez in early 2013 and operates in Oslo and Berlin. The founding team was supported by Humboldt Innovation of the Humboldt University Berlin in 2012 and 2013.