Hammerspace, an unstructured data wrangler used by Nvidia, Meta and Tesla, raises $100M at $500M+ valuation

Artificial intelligence services at their heart are massive data plays: you need data — a lot of it — to build the models, and then the models need efficient ways to ingest and output data to work. A company called Hammerspace has built a system to help AI and other organisations tap into data troves with minimal heavy lifting, and it’s been seeing impressive adoption. Now, with customers including NVIDIA, Meta, Tesla, Palantir and the Department of Defense as well as other very recognisable names, Hammerspace is announcing $100 million in funding to expand its business. The funding is being described as a “strategic venture round,” and it values Hammerspace at over $500 million, sources close to the company told TechCrunch. Its backers include Altimeter Capital and ARK Invest, alongside strategic investors that are not being disclosed. The investors are being described as “highly participatory.” The funding is notable because it points to the ecosystem developing around the value t ... Read full article.