Fastdata.io, a real-time stream processing company, landed $5 million in seed funding from CrossCut, Pelion Venture and current investor NVIDIA.
According to the press release, the company will use the money to try to speed up the use of its computing software, FDIO Engine, which it claims processes streams 1,000 times faster than any CPU-based software, reduces data processing costs by 70 percent and lowers space requirements by 90 percent.
"FDIO Engine offers unmatched efficiency and cost savings, allowing new applications to truly exploit data processing at the speed of thought for the first time," said Alen Capalik, CEO and founder of fastdata.io. "This paradigm shift, from traditional batch processing where you must store data before processing to true real-time processing where you can process data before deciding to store it, will open exciting new possibilities for application development in numerous industries."
The technology will be launched through a demo at the NVIDIA GPU Technology Conference on March 26-29 in San Jose. Ben Lambert of Pelion Venture Partners, Brian Garrett of CrossCut and cybersecurity expert and retired four-star Admiral William Fallon will join Fastdata.io's board as part of the deal.
Technology reporter Eli Horowitz can be reached at email@example.com. Follow him on Twitter @coachhorowitz13 for the latest in L.A. tech news.
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