ING Labs spin-out SeMI Technologies has secured $16 million in a Series A financing round.
The round, led by New Enterprise Associates and Cortical Ventures, follows a $1.6 million seed round led by Zetta Venture Partners with participation from ING Ventures in August 2020.
SeMI Technologies builds core software infrastructure for artificial intelligence (AI) applications and is known for its AI-first open-source vector search database, Weaviate.
Weaviate stores data that is processed by machine learning models, allowing users to better index and search through their data.
“We represent a third wave in database technology,” says CEO Bob Van Luijt. “This investment will allow us to focus on making Weaviate the de facto standard in open-source vector search.”
Founders Bob Van Luijt, Etienne Dilocker and Micha Verhagen made the Weaviate vector search database open source so customers can run it on their own infrastructure or as a managed Software-as-a-Service (SaaS) offering.
This is in contrast to large tech companies who…