Granica Raises $45M in Funding
Summary
The round was led by NEA and Bain Capital Ventures, with participation from Tesla CFO Deepak Ahuja, Eventbrite Chairman and co-founder Kevin Hartz and Frederic Kerrest, Executive Vice Chairman and co-founder, Okta The company intends to use the funds to expand its business reach among petabyte-scale Amazon S3 and Google cloud storage customers. Co-founded by CEO Rahul Ponnala and CTO Tarang Vaish, Granica is a provider of an AI efficiency platform which aims to boost ROI on AI by increasing the information efficiency of AI training data. Powered by compression and deduplication algorithms, its byte-granular inline data reduction of petabyte-scale sensor, image and text AI training data runs transparently in the background, reducing AI data costs. The company also provides privacy preservation for PII and other sensitive information, unlocking valuable data for safe use in downstream AI workflows. Through a cloud service provider-native infrastructure, the Granica AI Efficiency Platform integrates inline with cloud applications, making data as well as downstream pipelines and models more efficient, more performant and privacy preserving.
Funding
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