Speedata Revolutionizes Analytics with $44M Series B Funding

Speedata, a Tel Aviv-based startup, has secured a $44 million Series B funding round to further its development of an analytics processing unit (APU) designed to accelerate big data analytics and AI workloads. Total funding for Speedata now stands at $114 million, with contributions from existing investors like Walden Catalyst Ventures, 83North, Koch Disruptive Technologies, Pitango First, and Viola Ventures, alongside strategic investors named Lip-Bu Tan and Eyal Waldman. Unlike traditional processors or GPUs which were adapted for other tasks, Speedata's APU is purpose-built for data analytics, offering significant efficiency and performance benefits. The company plans an official product launch at the upcoming Databricks Data & AI Summit and aims to support all major data analytics platforms, positioning APUs as the standard for data processing. To date, Speedata has achieved key milestones, including completing its APU design and manufacturing, with intentions to expand market operations as large enterprises begin testing the technology.