$42.1 million poured into startup offering energy-efficient solutions for costly and unwieldy operational data and AI workloads
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Summary
Chicago-based AI data firm Ocient has raised $42.1m in funding to accelerate the development of energy-efficient solutions for costly and unwieldy operational data and AI workloads.
The extension to the company’s series B funding increases total investment to $159.4m.
The funding will help Ocient expand into new areas, including automotive telemetry and climate modelling.
The firm boasts tripled revenues for three consecutive years and appointed former Loft Orbital CFO Henry Marshall to steer its financial operations, signalling its entry into the growth phase.
Ocient’s customer base includes telecoms operators, intelligence agencies, adtech exchanges and fintech firms.
The company shipped its first named solution, the Ocient Data Retention and Disclosure System, this year.