SurrealDB gets $23 million and launches version 3.0 for AI agents
The firm in London has $44 million in total funding. Its chief executive says investors back tools that help AI agents work in a business.
SurrealDB, a database firm in London, got $23 million in new funding on Tuesday. The money extends its Series A funding to $38 million. Its total funding is $44 million. Chalfen Ventures and Begin Capital are new investors. The firm also launched version 3.0 of its database. It keeps many types of data in one system, to give AI agents the context that they use.
How it works
Version 3.0 adds Surrealism, a layer where teams set business rules for the team. These include access controls and version controls. Version 3.0 also improves how the database stores and finds vectors, which are lists of numbers that show meaning. The database holds context graphs with the data, to give agents memory of facts.
The numbers
The firm gave no test results for version 3.0. Analyst Matt Aslett says ISG Software Research sees about three-quarters of enterprises with databases made for AI in two years. Since mid-2022, data firms get a small quantity of funding.
What is not known
The firm gave no customer names and no speed data. Aslett says that the firm is new in a crowded market. Other vendors, such as Couchbase and Redis, sell the same type of database. The 3 large cloud providers also sell them.
Insight: Only firms with an AI story still get money in data tools
Funding for data firms fell to a small quantity in mid-2022. The firms that get money at this time have one theme: they help to make AI. The chief executive of SurrealDB says the funding shows a layer for AI work in enterprises. This seems a race to be the data layer for agents. A data firm with no AI story can get no funding. Rivals can do the same.
Sources
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