Samsung SDS Backs Israeli Data Company Iguazio
CTech – Samsung SDS, the software and IT arm of multinational conglomerate Samsung Group, has backed Israeli big data management startup Iguazio Systems, the companies announced Thursday. The size of the investment was not disclosed. As part of the deal, Samsung SDS will incorporate Iguazio’s technology into Samsung’s cloud services portfolio.
Herzliya-based Iguazio offers data management services and artificial intelligence tools designed to improve the performance, security, and scalability of machine learning applications. The company’s Nuclio is an open source serverless framework that enables the development of AI applications for manufacturing, healthcare, pharma, insurance, financial services, and telecommunications.
Founded in 2014, Iguazio has raised $48 million to date, according to Pitchbook data, from backers including Pitango Venture Capital, Verizon Ventures, Robert Bosch Venture Capital GmbH (RBVC), Jerusalem Venture Partners (JVP), and Dell Technologies Capital.