TileDB Raises $1M Seed Funding

10/21/17

SAN FRANCISCO--(BUSINESS WIRE)--TileDB, Inc. announced today at the Intel Capital CEO Showcase in San Francisco that it closed a US $1 million seed round, led by Intel Capital and Nexus Venture Partners. TileDB, Inc. develops and maintains the TileDB project, created at the Intel Science and Technology Center for Big Data (ISTC-BD) at the Massachusetts Institute of Technology (MIT). TileDB is a novel system for managing massive multi-dimensional array data.

Today’s scientific and technology enterprises generate enormous amounts of data in research development and manufacturing. DNA sequencing, imaging, point-cloud and social relationship data are growing at exponential rates. Traditional database systems cannot adequately manage these complex, heterogeneous datasets, which are better represented as multi-dimensional arrays instead of relational tables. In addition, relational databases poorly integrate with modern data science tools. Complex analytics employ statistical algorithms and deep learning systems built upon massively parallel linear algebra and neural network operations to discover new insights from growing data volumes.

TileDB is an efficient, multi-dimensional array management system which introduces a novel on-disk format that can effectively store dense and sparse array data with support for fast updates. It features excellent compression, high IO performance on multiple data persistence backends (including HDFS), and easy integration with ecosystems used by today’s data scientists (R, Python, Numpy, Scipy and Pandas). TileDB, Inc. will continue to contribute heavily to the open-source TileDB project and look to commercialize value-added customizations and tooling for enterprise customers.

According to Sam Madden, Professor of Computer Science at MIT and head of the MIT/Intel Science and Technology Center for Big Data: “Multi-dimensional array data arising from scientific applications are too big, too fast and too hard for traditional information technology to process. TileDB is perfectly suited to manage this kind of data with efficiency and scalability.”

Stavros Papadopoulos, the CEO of TileDB, Inc., said: “We envision TileDB as the array management system of the future. Our goal is to couple simplicity and intuitive usage with superb effectiveness and performance that will lead to significant data cost of ownership savings. Our deep relationship with Intel is well timed for TileDB to take advantage of Intel’s silicon roadmap from Xeon to FPGA to SGX and deliver optimized solutions to data and analysis driven enterprises.”

Mike Mayberry, corporate vice president of Intel Corporation and managing director of Intel Labs, stated: “The investment in TileDB, Inc. is part of a worldwide commitment from Intel Labs and Intel Capital to identify promising new startups from university collaborations. Additionally, Intel Health and Life Sciences, in collaboration with the Broad Institute, utilize the TileDB technology at the core of GenomicsDB, an open-source system for storing enormous genetics data.”

Edmon Begoli, Chief Data Architect at the Oak Ridge National Laboratory (ORNL), said: “I consider TileDB one of the most sophisticated, best-written solutions for high-performance scientific data management that I have seen in years. We are starting to use TileDB for some of our massive, multi-dimensional datasets at Oak Ridge National Lab.”

Abhishek Sharma, Nexus Venture Partners, added: “Effective organization and management of rapidly changing massive data is a key challenge for modern artificial intelligence and deep learning adoption. Innovative approaches like TileDB are needed to bring data-related visions to reality.”

About TileDB, Inc.

TileDB, Inc. develops and maintains TileDB, a new multi-dimensional array management system developed at the Intel Science and Technology Center for Big Data (ISTC-BD), a collaboration between Intel Labs and MIT. The system allows for efficient management of massive quantities of scientific data and makes it easy for programmers to write applications for complex, parallel data analytics. Founded by Stavros Papadopoulos, a former Senior Research Scientist at Intel Labs, TileDB Inc. seeks to continue to develop this new technology and contribute to the open-source community, and to commercialize tools and customizations built on top of TileDB. For more information, visit http://www.tiledb.io.

About Intel Capital

Intel Capital invests in innovative startups targeting 5G connectivity, the data center, artificial intelligence, merged reality, autonomous driving and a wide range of other disruptive technologies. Since 1991, Intel Capital has invested US $12.2 billion in 1,500 companies worldwide, and 640 portfolio companies have gone public or been acquired. Intel Capital curates thousands of business development introductions each year between its portfolio companies and the Global 2000. For more information on what makes Intel Capital one of the world’s most powerful venture capital firms, visit www.intelcapital.com or follow @Intelcapital.

About Nexus Venture Partners

Nexus Venture Partners is a leading early-stage venture capital firm that operates as one team across two markets: the US and India. Nexus team comprises ex-entrepreneurs who are strong “bottom-up” thinkers and “sleeves rolled up” operators. With decades of experience in building and funding globally leading companies, Nexus manages US $1.2 billion across funds. It has an active portfolio of over 70 companies. Nexus partner companies include Pubmatic, Druva, Kaltura, Cloud.com (acquired by Citrix), Gluster (acquired by Red Hat), H2O.ai, Headspin, Minio, Postman, Aryaka, Mezi, Netmagic (acquired by NTT), Clover Health, Delhivery, Shopclues, Snapdeal, OLX etc. For more information, visit http://www.nexusvp.com or follow @NexusVP.

It's on us. Share your news here.

Submit your stories and articles to citybizlist today.