Databricks, a Cloud data company, announced the completion of a Series I fundraising round. It is believed that they collected about $500 million from primary investor accounts led by T. Rowe. The funding round is also expected to include new investors such as Capital One Ventures, Ghisallo Capital Management, Ontario Teachers’ Pension Plan and Nvidia, among others.
With insights from Databricks, the latest investment round is expected to have collected a valuation of $43 billion and a share price of $73.50 In 2021, the company raised $1.6 billion in Series H funding at a valuation of $38 billion.
“The Databricks Lakehouse unifies data, analytics and AI on a single platform so that customers can govern, manage and derive insights from enterprise data and build their own generative AI solutions faster,” Cointelegraph explained.
Sources revealed that Lakehouse will allow enterprise clients to build out their own generative AI models. This architecture is expected to enable privacy controls in the purview of the business client. Supposedly, it will also allow enterprises to fine-tune models in order to inhibit unwanted or erroneous outputs, Cointelegraph concluded.
(With insights from Cointelegraph)
