NEWSLETTER
Snowflake plans to expand its starting accelerator with $ 200 million in additional commitments, the technological giant that specializes in cloud -based data storage He said Thursday.
The new capital injection follows a series of activities by snowflakes in recent months that illustrates the growth ambitions of that company.
The snowflake startup accelerator, previously known as the Powered By Snowflake financing program, invests in a wide range of new companies in the initial stage. In particular, the accelerator invests in new companies that build specific industry products based on Snowflake. Startups in the accelerator receive technical support from the snowflake and access to joint marketing opportunities, as well as credits for the public cloud of amazon, AWS.
Previous cohort graduates include Coalesce, Andrew Ng's Landingai and Twelvelabs.
A part of the new $ 200 million will come from the new and existing Snowflake VC partners, including Ventures Capital, Blackstone innovations Investments, Bessemer Venture Partners, Capital One Ventures, General Catalyst, Graylock Partners, Hetz Ventures, Mayfield, Newbuild Venture Capital, NTTVC and Virtue.
There is a small print to take into account. Snowflake pointed out in a blog post that while participating risk capital companies can Invest in Snowflake start accelerators companies, “there is no guarantee” that any particular company receives funds or that the total objective amount will be invested.
Snowflake, what <a target="_blank" rel="nofollow" href="https://www.businesswire.com/news/home/20250227246691/en/Snowflake-Expands-ai-Footprint-with-New-Silicon-Valley-ai-Hub-and-200M-Investment-in-Next-Gen-Startups”>Also announced plans For a new “ai hub” of 30,000 square feet on its Menlo Park campus and an ai acceleration program of $ 20 million, it continues to invest aggressively in Ia. Earlier this week, the company announced an expanded association with Microsoft to offer access to IA models from OpenAI. At the end of last year, Snowflake signed a several year association with Anthrope and acquired Datavolo, a ai data portfolio company.
Snowflake's strategy seems to be paying off. The company exceeded Wall Street Analyst estimates for its most recent fiscal quarter (fourth quarter of 2024), measuring $ 987 million in revenues.
(Tagstotranslate) Accelerator
