Israeli startup Varada that's working on big data inline indexing solutions has raised a $7.5 million seed funding round led by Lightspeed Venture Partners, with participation by StageOne Ventures and F2 Capital. Of this amount, $2.5 million was raised in 2018 as the first part of the round.
Varada's on-demand analytics product allows the customer to work easily with so-called data lakes, or, simply speaking, raw unprepared data stored in its natural format. Varada's solution provides a way to analyse the data interactively using SQL or business intelligence tools without the need for additional modelling.
“Most of today's’ big data software has been designed for decade old hardware assumptions,” said Tal Slobodkin, managing partner at StageOne Ventures. “Varada is unique in its approach, as it leverages the innovative hardware trends in SSD storage and networking to completely rethink how analytic software architecture should be built.”