Data and AI company Databricks is launching a strategic investment vehicle called ‘Databricks Ventures’, targeting firms that aim to foster the next generation of innovation and technology using data and AI.
The first strategic fund, Lakehouse Fund, will invest in technology start-ups across data, analytics and AI that leverage the data lakehouse ecosystem.
“Databricks has thrived thanks to the entrepreneurial spirit of our founders, and we intend to support the next wave of innovative start-ups and founders building the future of data, analytics and AI, especially those within the open-source community,” said Ali Ghodsi (pictured) co-founder and CEO of Databricks. “We look forward to working more closely with cutting-edge founders and teams that share our view of the future and our commitment to the lakehouse ecosystem.”
In addition to the funding, portfolio companies will be eligible for exclusive product roadmap access, deep technical integrations, and go-to-market support.
Investments from Databricks Ventures will be targeted toward start-ups raising early- through growth-stage funding rounds led by institutional venture capital firms.
More than 5,000 companies reportedly use Databricks’ platform to unify data, analytics and AI.
