Snowflake plans to extend its startup accelerator with $ 200 million in additional commitments, the technology giant specializing in data storage based on the cloud said Thursday.
The new capital injection has followed a series of Snowflake activities in recent months which illustrates the growth ambitions of this company.
Snowflake’s startup accelerator, formerly known as the Powered by Snowflake financing program, is investing in a wide range of startups in startup. In particular, the accelerator invests in startups creating products specific to the IA -based industry on Snowflake. Accelerator startups receive Snowflake technical support and access to co-commercialization opportunities, as well as Amazon, AWS public cloud credits.
The graduates of the previous cohorts include the Colesce, the Landes of the Andrew NG and the twelve.
Part of the new millions of dollars will come from new Snowflake VC partners, notably Bain Capital Ventures, Blackstone Innovations Investments, Bessemer Venture Partners, Capital One Ventures, General Catalyst, Greylock Partners, Hetz Ventures, Mayfield, Newbuild Venture Capital, NTTVC and Vitue.
There are small characters to know. Snowflake noted in a blog article which, while participating in VC companies, can Invest in the SNOWFLAKE Flocon Startup Accelerator Accelerator, there is “no warranty” that a private company will receive funding or the amount of the total objective will be invested.
Snowflake, which also announced plans For a new ia hub of 30,000 square feet on its Menlo Park campus and an $ 20 million AI update program continues to invest in AI. Earlier this week, the company announced an extended partnership with Microsoft to offer access to OPENAI AI models. At the end of last year, Snowflake signed a multi -year partnership with Anthropic and acquired Datavolo, a pipeline company of IA data.
Snowflake’s strategy seems to be bearing fruit. The company defeated Wall Street Analyst Estimates for its last budgetary quarter (T2 2024), by scoring $ 987 million in income.
