Snowflake plans to increase his startup accelerator by $ 200 million additional obligations, a technological giant that specializes in storing data in the cloud He said on Thursday.
The new injection of capital is in line with a variety of Snowflake activities over the past few months, which illustrates the company’s development ambitions.
The Snowflake startup accelerator, previously generally known as the Snowflake financing program, invests in a wide selection of startups at an early stage. In particular, the accelerator invests in startups building industry products based on artificial intelligence on Snowflake. Startups at the Accelerator receive technical support from Snowflake and access to modern capabilities, in addition to loans for Amazon Public Cloud, AWS.
Graduates of previous Kohort to Coalese, Andrew Ng’s Landingai and Twelvelabs.
Part of fresh $ 200 million comes from new and existing VC Snowflake partners, including Bain Capital Ventures, Blackstone Innovations Investments, Bessemer Venture Partners, Capital One Ventures, General Catalyst, Greylock Partners, Hetz Ventures, Mayfield, Newbuild Venture Capital, NTTVC, NTTVC, NTTVC, Newbild Venture Capital And Critue.
There is some small print to recollect. Snowflake noticed in the blog post that during participating VC firms they invest in the Accelerator Startups Snowflake, there is no “guarantee” that any specific company will receive financing or that the full goal amount will likely be invested.
Snowflake that Plans were also announced In the new “Huba AI” with an area of 30,000 square feet in the Menlo Park campus and Upskilling program with a value of $ 20 million, he is still invested aggressively in AI. At the starting of this week, the company announced an prolonged partnership with Microsoft to supply access to AI models from OpenAI. At the end of last yr, Snowflake concluded a long -term partnership from Antropic and acquired Datavolo, a company dealing with AI data pipelines.
The Snowflake strategy appears to be profitable. The company beaten the estimates of Wall Street analysts for the latest fiscal quarter (4,2024), pressing USD 987 million.