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        The Apache Software Foundation (ASF) has announced the launch of Apache Paimon, a project aimed at processing data in both batch and streaming modes. Paimon is a data lake format designed for real-time lakehouse architectures built with Apache Spark and Apache Flink.
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        Paimon enables high-speed data processing for both batch and streaming tasks, providing fast real-time analytics and queries. It supports various data reading and writing methods as well as Online Analytical Processing queries. The ASF emphasizes Paimon's flexible and reliable storage layer for streaming data, enabling real-time updates and handling large data volumes with added flexibility in record updates.
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        The Apache Software Foundation is a decentralized, open-source community of developers contributing to a wide range of enterprise-grade projects. As a charitable organization, it offers organizational, legal, and financial support for Apache open-source software projects.
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    <a href="https://www.datanami.com/2024/04/19/apache-software-foundation-announces-new-top-level-project-apache-paimon/">
      Datanami
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Data Infrastructure & Analytics

PROMINENT_CATEGORY

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 <p>The Apache Software Foundation (ASF) has launched Apache Paimon, a data processing project designed specifically for real-time lakehouse architectures built with Apache Spark and Apache Flink. Paimon can process data in both batch and streaming modes.</p>
 <p>Paimon's capabilities include high-speed data processing, supporting real-time analytics and queries, diverse data writing and reading methods, and Online Analytical Processing queries. According to ASF, Paimon also features a reliable and flexible storage layer for large volumes of streaming data, allowing real-time updates and more flexibility in record updates.</p>
 <p>The ASF is an open-source community of developers, focusing on a broad spectrum of enterprise-level projects. The organization, also a charitable entity, provides organizational, legal, and financial support for Apache open-source software projects.</p>
 
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Apache Software Foundation launches Apache Paimon for data processing

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 <p>Onum, a data observability platform based in Spain, has successfully raised around USD 29.8 million in a Series A financing round. The funding initiative was mainly led by Dawn Capital, and also saw participation from Kibo Ventures and Insight Partners.</p>
 
<p>This considerable investment will be put towards developing Onum's offerings and expanding its staff.</p>
 
<p>Onum's unique platform uses artificial intelligence (AI) to identify crucial business data. This data is promptly sent to analytics platforms for immediate analysis, providing invaluable insight for businesses. More specifically, Onum's services offer detailed context which supports decision-making in areas like cybersecurity, network performance, and infrastructure management.</p>
 
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Onum raises EUR 28 million in Series A funding for product development and recruitment

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 <p>Scavenger AI, a German startup that specializes in data analytics and AI, has secured EUR 1.1 million (approximately USD 1.17 million) in a pre-seed funding round. This investment round saw participation from HTGF, Calm/Storm Ventures, and the B4i Fund, among others.</p>
 <p>These fresh investments will be used to expand the team size and aid in the further development of the startup's technological infrastructure.</p>
 <p>Scavenger AI develops AI-based tools designed to help companies make effective data-driven decisions. Their software includes features that clean and analyze input data, as per user queries. The analyzed data is presented in a simplified language, with numerical results supplemented with relevant industry data and displayed conveniently in a dashboard.</p>
 
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Scavenger AI raises EUR 1.1 million in pre-seed funding for recruitment and product development

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 <p>Pigment, a business forecasting platform, secured USD 145 million in a Series D funding round. The investment was led by ICONIQ Growth and included participation from Sandberg Bernthal Venture Partners, IVP, Meritech, Greenoaks, and Felix Capital.</p>
 <p>The company will leverage this funding to develop its planning platform and invest in GenAI services. Furthermore, part of the funds will be allocated for enhancing in-market support in North America.</p>
 
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Pigment raises USD 145 million in Series D funding for product development and strengthen market presence

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 <p>Datavolo, an AI-focused company specializing in multimodal data pipelines, raised a sum of USD 21 million. The funding round was led by General Catalyst, with contributions from Citi Ventures, Human Capital, Rob Bearden, and MVP Ventures.</p>
 <p>The investments will be channeled towards developing Apache NiFi, a technology initially designed for secure data pipelines by the NSA. With this fund, Datavulo aims to create a cloud-native managed service for AI system pipelines.</p>
 <p>Established in 2023, Datavolo serves businesses looking to construct secure and efficient AI systems. The firm aids in overcoming the challenge of accessing comprehensive, safe, and timely datasets. It also ensures businesses can utilize all types of data, including unstructured one, which enables effective use of GenAI.</p>
 
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Datavolo raises USD 21 million in funding for product development

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 <p>Supersimple, a data analytics provider that supports AI, has secured USD 2.2 million in a pre-seed funding round. The round was led by Tera Ventures and saw participation from Specialist VC, Tiny VC, and various angel investors.</p>
 <p>The newly acquired funds will be put to use in expanding the company's customer base and in further developments of explainable AI (XAI).</p>
 <p>Supersimple, operating out of Estonia, provides a platform that allows users to delve into and explore data, delivering answers in just minutes. This removes the requirement for technical knowledge as it pertains to exploring data.</p>
 
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Supersimple raises USD 2.2 million in pre-seed funding for product development and expanding customer base

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 <p>Rubrik, a data security company, is expected to file for an IPO next week, as per undisclosed sources. However, the exact timeline and details may change. </p>
 <p>The company's IPO is in collaboration with Goldman Sachs Group, Barclays, and Citigroup, with the aim of raising between USD 500 million and 700 million.&nbsp;</p>
 <p>Rubrik has already secured a total of USD 1.18 billion to date. This includes an equity investment from Microsoft in 2021, lifting the startup's valuation to USD 4 billion.</p>

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Rubrik plans to file for IPO

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 <p>Observe, a Software as a Service (SaaS) observation corporation, recently secured a substantial USD 115 million in a Series B funding round. The round was led by Sutter Hill Ventures and included contributions from Capital One Ventures, Madrona Ventures, and Snowflake Ventures. The company stated that this funding round's value was an impressive 10 times higher than its Series A funding four years ago.</p>
 <p>The newly raised funds will be utilized to support the company's expansion and growth. Observe has specific plans to bolster its presence in the North American market within the coming year. They anticipate these efforts will also lead to a doubling in the size of their business.&nbsp;</p>
 <p>Observe operates in the field of observability and specializes in storing all types of business data such as logs, metrics, and traces in a singular data lake. This is aimed at reducing the operating costs for businesses. Their proprietary Data Graph technology enables accelerated troubleshooting of distributed applications at a rate three times faster than other competitors. This led to considerable growth for Observe in FY 2024, with a notable 171% increase in annual recurring revenue (ARR) and a 194% augmentation in the total contract value (TCV). Additionally, the company saw their net revenue retention (NRR) climb significantly to 174%.</p>
 
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Observe raises USD 115 million in Series B funding to support growth and expand reach

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 <p>Foundational, an AI-readiness and data quality platform, came out of stealth and disclosed it raised USD 8 million in seed funding. The round was led by Viola Ventures and Gradient Ventures.</p>
 <p>The company plans to utilize the new funds for product enhancement, growing its engineering division, and extending its market presence.</p>
 <p>The firm had been operating in stealth mode for previous year and half, and is now bringing its technology to the market. Notably, Ramp and Lemonade have already become customers.</p>
 <p>The company, located in the US and Israel, provides a platform that auto-maps and scrutinizes data teams’ code. The platform detects possible issues, proposes corrections, and readies data for AI uses. It aims to safeguard the quality of data infrastructure.</p>
 
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Foundational emerges from stealth; raises USD 8 million in seed funding

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 <p>Databricks, a company specializing in data infrastructure and Artificial Intelligence (AI), has recently acquired Lilac, a tool that aids data scientists in understanding and managing text datasets. The financial specifics of the deal have not been made public.</p>
 <p>Lilac employs AI models to analyze unstructured text data, categorize similar files into clusters, and make them easier to understand. This functionality helps data scientists to choose which datasets to use when training models, subsequently yielding superior results and cutting down on training time.</p>
 <p>As part of this acquisition, Databricks plans to integrate Lilac into its MosaicML engine, which optimizes data intelligence by improving data division and automating index columns. The integration will provide a more efficient means of evaluating and tracking LLM outputs and preparing datasets.</p>
 
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