Weaviate Raises $50 Million Series B Funding To Meet Soaring Demand For Ai Native Vector Database Technology

Weaviate.io, developer of the AI-native Weaviate vector database, announced a $50M round of funding to expand the Weaviate team and accelerate the development of its popular open source database and new Weaviate Cloud Service. The Weaviate vector database simplifies vector data management for AI developers, allowing them to create a new wave of applications ranging from custom-made search and recommendation systems to ChatGPT plugins. Global spending on AI technology and services is expected to reach $154 billion in 2023.