Speedata, a startup that’s developing a specialized computer processor for data analytics workloads, exited stealth mode today as it closed on a $55 million funding round that brings its total amount raised to $70 million.
Walden Catalyst Ventures, 83North and Koch Disruptive Technologies led the Series A round, together with participation from existing investors Pitango First, Viola Ventures and prominent individual investors, including Eyal Waldman, co-founder and former chief executive officer of Mellanox Technologies Inc.
Speedata says it’s building the world’s first dedicated big-data processor that’s designed to expedite cloud-based database and analytic workloads. The company believes its Analytics Processing Unit can serve as a replacement for multiple racks of regular central processing units in the data center, reducing both costs and space. Customers will be able to execute big data analytics workloads faster, more efficiently and more economically with less energy consumption, Speedata has promised.