San Franciso-based Vendia, the multi-cloud serverless platform, for sharing distributed data has confirmed picking up $5.1 million in seed funding. Neotribe's Swaroop ‘Kittu’ Kolluri led the latest round of funding with participation from Correlation Ventures, WestWave Capital, HWVP, Firebolt Ventures, Floodgate and Future Perfect Ventures.
Tim Wagner and Shruthi Rao had founded the company which allows enterprise clients to share data and code in real-time across multiple cloud services. Wagner was one of the pioneers who worked with Amazon Web Services Inc.’s Lambda service while Rao worked as the head of business development for Amazon Managed Blockchain at AWS.
Shruthi, the chief business officer of the firm talking about the company said that “Over 80% of business data now lives outside a company’s four walls, and the complexity in managing this data is only exacerbated by emerging Edge, IoT, and digital transformation efforts. Despite their early promise, blockchains turned out to be expensive, complex, inflexible, and unable to scale. We saw the opportunity to bring the best of serverless and blockchain concepts together in a secure, decentralized, and efficient way, helping companies share data and code with fine-grained governance controls, all in real-time.”
Kolluri, the managing director of Neotribe talking about their investment in Vendia said, "At Neotribe Ventures, we invest in breakthrough technologies that stretch the imagination and partner with companies that have category creation potential built upon a deep-tech platform. When we heard the Vendia story, it was a no brainer for us. The size of the market for multi-party, multi-cloud data, and code aggregation is enormous and only grows larger as companies capture every last bit of data."
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