The enterprise feature store, Molecula specializing in machine analysis and AI, finalized a $17.6 million deal. This deal came at the end of a Series A funding round, culminating in a total budget of $ 23.6 million.
Drive Capital orchestrated the funding round that also saw TTV Capital and its current investors participate. molecula ai series drive capitalwiggersventurebeat. Tensility was one such investor. Andy Jenkins will join the Board of Directors of Molecula. Drive capital vows to invest in next-generation, market-changing companies.
The funding from this round will fund the launch of the Molecula Cloud. It will also help to gauge the sales and marketing enterprise. The CEO of Molecula, Higino (H.O.) Maycotte is confident of the machine learning revolution that is currently in effect. The company got established in 2019. All businesses, irrespective of their industries, must implement machine learning (ML) and artificial intelligence (AI).
However, the roadblock happens to be the current infrastructures, which are complex. The feature store happens to take the lead in the transformative field. The reason is the transformation of data. It brings forth the entire spectrum- MLOps to data computability and readiness.
Businesses can get overwhelmed by the ocean of data. Current technologies need to federate data and move them. The so-called migrating the data to the cloud is nothing but “playing around with legacy approaches”.
The feature store of Molecula brings a new computing layer for data. Andy Jenks, the partner at Drive Capital, posits that the partnership with Molecula will open new doors in AI analytics. The system updates the feature into a central feature store. This helps to minimize data footprint by a margin of 60-90%. Industries like healthcare, life sciences and financial services can quickly get noticeable value from their data with fewer resources. molecula series drive capitalwiggersventurebeat
Molecula extracts features and diminishes the data dimensionality at the source. Data engineers, data scientists and application developers flood the Molecula platform with their expertise. They can predict and even suggest business analytics for real-time business outcomes.
The features store is easy to adapt to and can surpass the performance of traditional data analysis processes. Molecula has become the first open-source feature-first storage application with more than 2100 global users.