Crate.io Blockchain CrateDB & Crate Machine Data Platform Get $11M in Funding
Crate.io Gathers $11 Million Dollars and Launches SQL-Based IoT Platform
Crate.io, a California-based company that is in charge of the CrateDB project, announced that it was able to raise over $11 million dollars in Series A financing round. In this way, and after this important milestone, the company decided to release its Crate Machine Data Platform and a new version of the CrateDB open source SQL database.
— Crate.io (@crateio) June 19, 2018
The companies that led the fundraising rounds were Deutsche Invest Equity and Zetta Venture Partners. At the same time, existing and new investors like Momenta Partners, Mike Chalfen, Charlie Songhurst, Draper Esprit, Solomon Hykes and Vito Ventures participated as well.
Christian Lutz, CEO of Crate.io said that they are very pleased to have achieved important milestones related to products and financial matters. He commented:
“We are extremely pleased to have achieved several critical fiscal and technical milestones today, all of which reflect our steadfast commitment to meet the needs of our customers as they move into the next generation of machine data.”
At the same time, he thanked Zetta Venture Partners, Deutsche Invest Equity and the other investors that helped the company gather the necessary funds necessary to keep its operations and develop the products they want.
CrateDB works as a real-time SQL database for analytics of IoT and machine data. This includes GPS data, sensor data, messages, and logs. With the latest improvements it will be possible to find machine data applications that were previously found only in NoSQL solutions. Additionally, the platform makes capacity more predictable and affordable with complex data structures linearly together with cluster size.
Furthermore, the CrateDB 3.0 release comes with other important changes, including improved security features, easy database administration, support for virtual tables and subqueries with update and delete statements. It will also have a 100x faster query performance via new algorithms.
With the Crate Machine Data Platform, the company will allow enterprises to save time and money required to create management infrastructure. The time-consuming job of building and generating data management is now simplified.
The company explains that companies are trying to build systems that harness data generated by internet-connected factories, vehicles and smart buildings with the intention to put them work immediately.
“They can change factory machine settings to improve output, direct failing vehicles off the road to increase safety, or disable access credentials to reduce fraud,” the company wrote.
In addition to it, the platform allows for high-speed data loading, data enrichment, real time data analysis, data visualization through different visualization softwares like Klimt or Grafana.