WEKA, an AI-native data platform backed by NVIDIA, has secured $140 million in a Series E funding round, boosting its valuation to $1.6 billion. According to WEKA’s CFO, Intekhab Nazeer, this move aligns with the company’s long-standing strategy to address data storage and management challenges associated with AI.

Founded in 2013, WEKA has focused on helping clients transition to AI-native data stacks, which allow flexible workloads across different models and platforms. As interest in generative AI grows, with Gartner predicting AI software spending to hit $297.9 billion by 2027, WEKA aims to bolster its mission in this expanding market.

Nazeer emphasizes that even in uncertain economic times, companies continue to invest significantly in AI, making it an opportune time for WEKA to fortify its cash reserves. The Series E funding, led by Valor Equity Partners with participation from NVIDIA and Qualcomm Ventures, aims to enhance WEKA’s modern data infrastructure capabilities.

Nazeer highlights WEKA’s collaboration with hyperscalers like Amazon Web Services and Oracle Cloud Infrastructure as part of the company’s growth strategy. WEKA’s technology helps businesses streamline data pipelines, making firms AI-native, akin to the earlier shift to cloud-native strategies.

The startup’s early focus on AI positions it advantageously against legacy data infrastructure competitors. Nazeer advises CFOs to adopt tools that embed AI for improved data-driven insight, stressing the importance of a multiyear approach to technology adoption that allows room for growth and change.

Source: NVIDIA-backed WEKA zeros in on AI data storage, infrastructure.