Isreal’s data virtualization startup, Varada, has announced closing a $12 million Series A round.
The round, which was led by Israeli early-stage fund MizMaa Ventures, saw the participation of Gefen Capital.
The Tel Aviv-based startup focuses on making it easier for businesses to query data across services.
Speaking on the new development, Varada CEO and co-founder Eran Vanounou stated that the company derives its motivation from essence of visualising and storing data.
He said: “If you look at the storage aspect for big data, there’s always innovation, but we can put a lot of data in one place.”
Eran added that the complicating nature of data also added to the significance of its company. “…translating data into insight? It’s so hard. It’s costly. It’s slow. It’s complicated. And, it’s the one big thing I have learnt since venturing,” the CEO remarked.
Varada embraces the idea of data lakes and enriches it with its indexing capabilities.
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