Zilliz Raises $60 Million To Grow Vector Database Solution Operations
Zilliz has raised $60 million in an extended Series B funding round today, after opening a Silicon Valley HQ will invest into it's services and open-source projects.
Created on August 24|Last edited on August 24
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For data organization, it's always been standard to catalogue data items in structured and predictable ways, like in large databases where each aspect of an item is detailed and annotated. When we have the luxury to compile data in such a way, it's the best way to do it, but as data accumulates at an increasingly rapid pace as seen across industries, maintaining such a rigorously detailed database is near impossible.
That's why Zilliz wants to make the management of large amounts of unstructured data easy, with data vectorization, specifically designed for AI applications. The team at Zillus first developed Milvus, an open source vector database framework, which now functions as the foundation for many of their products, including their cloud-based solution Zilliz cloud. It works by dynamically identifying the underlying qualities of a piece of data that only a machine learning model could detect and understand.
Who's funding Zilliz and where's the money going?
Zilliz has raised $60 million in an extended Series B funding round which initially raised the $43 late last year, bringing their total overall raised amount to $113 million. The funding round was led by Prosperity7 Ventures with additional participation from Temasek's Pavillion Capital, Hillhouse Capital, 5Y Capital, and Yunqi Capital.
After opening a headquarters in Silicon Valley, the money will be put towards growing the engineering and market teams, while enhancing their existing services and open source projects.
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