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Tuesday, May 21, 2024

Introducing the Databricks AI Fund

We launched Databricks Ventures in December 2021 as our strategic funding arm for funding revolutionary startups throughout the info, analytics and AI panorama — firms that shared our view on the significance of open platforms and ecosystems. Since then, by way of the inaugural Lakehouse Fund, we’ve invested in additional than 25 wonderful firms which might be constructing on or extending the Databricks Information Intelligence Platform. The outcome has been a stronger ecosystem, with our portfolio firms delivering best-in-class product experiences for our joint clients.

Immediately, we’re excited to announce the Databricks AI Fund, the second fund at Databricks Ventures. Simply as software program ate the world, we consider AI is now consuming software program. As such, the tempo of change within the AI ecosystem has dramatically accelerated. The period of AI within the enterprise has arrived, and our new AI Fund embodies Databricks Ventures’ dedication to supporting a brand new era of founders and startups on this critically essential ecosystem.

To bolster the ecosystem across the Databricks Information Intelligence Platform, we will likely be aggressively looking for out investments in revolutionary, early- to growth-stage startups which might be using or enabling AI in revolutionary methods on prime of or alongside our platform. These firms will share our imaginative and prescient for an open ecosystem and our dedication to utilizing the facility of information intelligence for the advantage of our joint clients.

Simply since final fall, we’ve introduced investments in six AI-focused firms: Anomalo, Cleanlab, Glean, Mistral AI, Perplexity and Unstructured. These portfolio firms fall in very completely different sectors of the panorama — from open-source LLM improvement (Mistral AI) to AI-powered knowledge high quality monitoring (Anomalo) — however all leverage the facility of AI to ship superior buyer experiences. And with these assorted investments, we now have solid deeper accomplice and integration relationships throughout the AI worth chain that profit our portfolio firms and our widespread clients — and assist us construct a powerful, differentiated ecosystem across the Databricks platform.

We’re much more enthusiastic about the way forward for knowledge and AI in the present day than we had been in 2021 — and Databricks Ventures is able to assist a brand new set of founders and entrepreneurs construct AI-first firms.

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