The data lake transformation business Dremio, based in Santa Clara, California, closed a $160 million Series E fundraising round, raising its worth to $2 billion.
With current investors Sapphire Ventures, Insight Partners, Lightspeed Venture Partners, Norwest Venture Partners, and Cisco Investments joining in, Adams Street Partners led the round. DTCP and StepStone Group are two other new investors who have joined Adams Street Partners.
The company plans to use the capital to expand its customer-facing organization, accelerate its technological innovation, support open-source projects, and invest in training and enabling a burgeoning community of data lake practitioners.
CEO Billy Bosworth created the business in 2015, and he is in charge of it. Dremio is a SQL engine that sits between data lake storage and end users who want to directly query that data for high-performing dashboards and interactive analytics. This eliminates the need to copy data into data warehouses, create cubes, aggregation tables, and BI extracts, as well as the time-consuming process of copying data into these structures.
Ascend.io Raises $31M in Series B Funding
Data Automation Cloud business Ascend.io, situated in Menlo Park, California, secured $31 million in Series B funding.
Shasta Ventures and previous investor Accel also participated in the round, which was led by Tiger Global.
The business plans to utilise the money to:
Expand its Data Automation Cloud to allow comprehensive multi-cloud data mesh automation, scale go-to-market initiatives, and enter new geographies.
Ascend.io is a data automation cloud platform run by CEO and Founder Sean Knapp that offers sophisticated automation for data and analytics engineering workloads. Any member of the data team, including data engineers, data scientists, and data analysts, can use the solution to quickly and easily build and deliver the data and analytics workloads they require by combining the fundamental data engineering capabilities of data ingestion, transformation, delivery, orchestration, and observability into a single platform.
Ascend.io currently supports Amazon Redshift, AWS Glue, Microsoft Azure Synapse, and other services in addition to running natively on data lakes, warehouses, and in AWS, Google Cloud, and Microsoft Azure.
Bux Raises $80M in Funding
Neo-broker Bux, based in Amsterdam, The Netherlands, raised USD 80 million in a follow-financing round.
Prosus Ventures and Tencent served as the round’s lead investors. Other new investors included ABN Amro Ventures, Citius, Optiver, and Endeit Capital, as well as returning investors HV Capital and Velocity Capital Fintech Ventures.
The business plans to utilise the funds to market its investment app in more European nations.
Nick Bortot founded the company before transferring control to new CEO Yorick Naeff. Bux Bux is a neo-broker with over 500,000 clients whose flagship platform, BUX Zero, enables commission-free investing for both new and experienced investors, allowing them to invest in a wide range of shares or ETFs. Currently, the Netherlands, Germany, Austria, France, and Belgium have access to the platform. The entire line of products offered by the company, including BUX Crypto, which enables users to invest in genuine cryptocurrencies, and BUX X, which enables users to trade contracts for difference (CFDs), are accessible throughout Europe.
Optibus Raises $107M in Series C Funding
A cloud-native AI platform for planning and managing mass transit, Optibus is situated in Tel Aviv, Israel, and just secured $107 million in Series C funding.
Co-led by Bessemer Venture Partners and Insight Partners, the round, which raised the company’s total funding to $160 million since its establishment in 2014, also included current investors Verizon Ventures, Pitango, New Era Capital Partners, Dynamic Loop, and Blue Red Partners.
The company plans to use the money to keep growing its global presence and improve product features like artificial intelligence and optimization algorithms that improve mass transit for users while also boosting operational effectiveness and hastening the adoption of zero-emission vehicles.
Optibus, a company founded in 2014 by CEO Amos Haggiag, uses distributed cloud computing, advanced optimization techniques, and artificial intelligence to improve public transportation. Currently, the business plans and schedules the movement of cars and drivers for complicated transportation operations in more than 450 cities worldwide.
The Geospatial Suite, which Optibus is introducing, uses data-driven planning to enhance transportation networks and transit equity.
By visualizing critical geographic information during route planning, such as the bike paths that riders may use to get to or from public transportation or the shopping areas, schools, medical facilities, or job centers that passengers may want to visit, cities can make transportation networks more user-friendly. By making it simple to view demographic data that illustrates how route modifications may affect citizens’ access to public transportation, the suite also supports the promotion of transit equity. These features make it possible to make data-driven decisions that enhance the networks’ usability, dependability, and performance—factors that have an impact on millions of users.
Customers include the American organizations LADOT (Los Angeles), NICE (Nassau County, New York), and AVTA (Antelope Valley, California), as well as First Group and Stagecoach, two of the biggest bus companies in the UK.
Tel Aviv, New York, Chicago, Seattle, San Francisco, London, and So Paulo are among the cities where Optibus has offices.
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