Molecula raises $17.6 million for its AI feature store technology
Summary
The company says the proceeds will be put toward accelerating the launch of its managed cloud service and bolstering its sales and marketing efforts. Enterprises embracing an AI-first strategy must contend with federating, pre-aggregating, copying, and moving the data used to train their machine learning algorithms. In a recent report, startup Tecton said it expects 2021 to be a year of “massive feature store adoption” as “machine learning becomes a key differentiator for technology companies” and incumbents like Amazon launch new products to address the growing market segment. The company offers a framework that provides an interface for third-party tools, libraries, models, and code to extend the platform’s functionality. “A machine learning revolution is taking place right now — businesses, no matter the industry, will need to implement ML and AI to remain competitive, but current infrastructures are far too complex,” Molecula CEO Higinio Maycotte told VentureBeat via email.
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