The data infrastructure company, Aiven has raised $100m in a series C of the funding round. The round was led by the European Venture Capital Firm, Atomico with an investment of a total of $150M and now has a valuation of over $800M. Along with Atomico, Salesforce Venture and World Innovation Lab also participated as the new investors.
According to some sources, the cash commitment has also been increased by the lead investors of series A series (Earlybird Venture Capital) and series B(IVP). . Aiven is now valued at over $800M, Aiven has decided that it will use the funds from the $100M round series for the following points:
- To begin new products Intensify contribution to the modeling of open source technology, And conduct the company’s global development.
What Is Aiven?
Aiven is a database that offers a service to open-source companies for their evolution. It was founded in 2016, by Oskari Saarenmaa, Hannu Valtonen, Heikki Nousiainen and Mika Eloranta. Its headquarter is in Helsinki, Finland.
It manages several companies’ open-source data frameworks in the cloud and allows the developers to just focus on building the applications. Users are free to carry the data between clouds with support for Google Cloud, Azure, and Up cloud.
Aiven’s products are applicable universally and some more help has been given by the new investors and the new investments in better addressing of the unjustified markets.
For many years, the company has been planning to increase its staff size and develop an official open-source program office.
The CEO and Co-founder at Aiven, Mr. Oskari Saarenmaa said, the mission of Aiven is to promote open source and make the development of developers finer, in all that we do. He further added, their recent funding will allow them to do multiple tasks, like, continue adding new service capabilities, grow the team to be stronger and expand into new markets, and contribute to the open source community. These are the visions of Aiven’s CEO.
Oskari Saarenmaa stated that they give their customers the freedom of choice and do not lock their data to one vendor or system but with just a click of a button, they can migrate their data from one cloud to another. In the previous rounds, Aiven worked with many other investors also.
In 2019, Aiven did $8M funding of series A. Earlybird Venture Capital led this round along with the participation of Nokia Chairman Risto Siilasmaaand Lifeline Ventures data by sawersventurebeat.
- Earlybird Venture Capital is a Business Development Financial Service Company, located in Berlin, Germany it focuses on European Technology Innovators. Its founders are Benjamin Wikaning, Cem Sertoglu, Christian Nagel, Hendrik Brandis, Roland Manger and Rolf Mathies.
In 2020, during series B it raised $40M in funding and the round was led by Silicon Valley-based- IVP, whose noticeable investment includes Dropbox, slack, etc. And this raised the total funds to $50m.
Conclusion
This is series C of the funding round raised by Aiven and had valued at over $800M which is a great achievement. Previous investors are seen to make a comeback and are in a mood to invest the double amount as the prior one. Aiven will continue to evaluate the construction of more highly mechanized robotics that makes the manufacturing world totally changed now, assured by Aiven’s CEO.
The investors are seen as highly confident in Aiven’s future planning regarding the manufacturing world. Also, they are extremely concerned about their country’s future, which is why they are switching to enable the modernized way of working.
At last, Aiven’s $800M crossing is such a big achievement for manufacturing industries.
