Speedata’s chip for analytics workloads gets a $55M boost

Speedata, a semiconductor infrastructure company developing hardware accelerators for analytics and databases, today announced that it raised $55 million in a series A round led by Walden Catalyst Ventures, 83North, and Koch Disruptive Technologies, with participation from Pitango First, Viola Ventures, and individual investors. The company says that the new money will be used to fund Speedata’s go-to-market strategy for its analytics and databases unit (APU), a processor designed to speed up data-heavy workloads.

It’s projected that the amount of data created in the next three years will exceed the amount created in the past 30 years, while revenue from analytics will grow to nearly $70 billion by 2025.  Database analytics can be an asset for enterprises, cloud providers, private datacenters, and others across industries. But most cloud providers use processors or accelerators based on field-programmable gate array (FPGAs) for analytics applications, which can run up against computation limitations.

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