LanceDB Secures $11M Funding with CRV-Led $8M Seed Round to Enhance Multimodal AI Database

May 15, 2024, 04:10 PM

LanceDB has successfully closed an $8 million seed funding round led by CRV, with additional backing from Y Combinator, Essence Venture, and Swift Ventures. This brings LanceDB's total funding to $11 million. The company, part of YC W22, is developing an open-source, developer-friendly database tailored for multimodal AI applications. LanceDB counts notable AI companies such as Midjourney, Character.ai, and Airtable among its customers. The database empowers AI teams to easily search over billions of vectors, process petabytes of images, and train on trillions of tokens. The new funding will enable LanceDB to grow its team and enhance its services to better serve its customers and community.