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June 2, 2023

MindsDB Secures $25 Million in Funding to Fuel Expansion of AI-Logic Cloud Platform

Total funding now comes to $50 million

Berkeley-based cloud platform MindsDB has recently raised an additional $25 million in financing, pushing its total seed capital to $41.5 million. Led by new investor Mayfield, alongside TQ Ventures and existing investor Benchmark Capital, this funding round positions MindsDB for further expansion of its AI-Logic Cloud platform.

MindsDB's AI-Logic Cloud platform empowers organizations to swiftly and efficiently deploy AI-driven applications, seamlessly transitioning from prototyping and experimentation to full-scale production. By leveraging the power of the cloud, MindsDB enables businesses of all sizes to embrace AI technologies and unlock their potential.

With this latest investment, MindsDB aims to nurture its vibrant community, enhance the capabilities of its AI-Logic product, cater to its expanding customer base, and establish itself as a cornerstone within the AI landscape. The funding will facilitate MindsDB's ongoing commitment to innovation and position the company as a leading player in the burgeoning realm of AI technologies.

The platform's success is attributed to open-source community's dedicated five-year testing and refinement, says MindsDB co-founder and CEO Jorge Torres. Torres expressed enthusiasm about MindsDB's position as the most robust AI development solution in the market, catering to businesses of all sizes. Whether an organization has a handful of developers or a vast team, MindsDB aims to be the go-to resource for building and deploying AI-first applications.

MindsDB's platform offers both open-source and managed-cloud versions, bridging the gap between disparate data sources and AI frameworks. By providing a streamlined deployment and management workflow, MindsDB facilitates the integration of AI intelligence into existing systems, unlocking the full potential of data-driven insights.

MindsDB's recent funding injection of $25 million signifies a significant milestone in the company's journey. With a commitment to delivering AI-powered solutions and a focus on community-driven development, MindsDB is well-positioned to shape the future of AI applications. By leveraging its AI-Logic Cloud platform, MindsDB aims to empower organizations of all sizes to embrace AI technologies and achieve transformative results in their respective industries. As the company continues to evolve and innovate, MindsDB is poised to play a pivotal role in the expanding realm of AI-powered solutions.

Neil Hodgson Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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