Serverless computing provider Nuweba raises $10.2M in funding
Serverless computing startup Nuweba Labs Ltd. said today it has raised $10.2 million in an expanded seed funding round.
Blumberg Capital led the latest investment, together with Magma Partners and existing investor Target Global. The new funding brings Nuweba’s total amount raised to $15 million, following an earlier $4.2 million seed round in February 2019.
Israel-based Nuweba has built a “function-as-a-service” offering that aims to address some of the biggest barriers to adoption of serverless computing platforms.
Serverless computing is a relatively new execution model in which public cloud providers dynamically allocate resources whenever a piece of code is executed and charge only for the amount of resources used to run it. The benefit is that developers need to focus only on writing their code without worrying about managing the underlying information technology infrastructure.
Nuweba, which emerged from stealth mode last year, reckons its serverless computing platform can overcome some of the challenges around speed, security and visibility that it says prevent many companies from taking advantage of the new technology.
In an interview with SiliconANGLE last year, Nuweba Chief Executive Officer Ido Neeman said existing serverless platforms such as Amazon Web Services Inc.’s Lambda “aren’t fast enough, don’t secure the application layer and offer little visibility.” Nuweba claims that its serverless platform is not only faster, but also more suited to newer workloads based on artificial intelligence systems.
In November, it became the first serverless platform on the market to announce support for the powerful graphics processing units that are necessary to power AI workloads. This support for GPUs means Nuweba’s platform can launch a TensorFlow machine learning model 100 times faster than Lambda, the company said at the time.
Nuweba’s platform offers another big benefit with its built-in application-level security features and its automatic monitoring functions that provide real-time visibility into apps as they’re running in production. These features mean there’s no need to configure any monitoring metrics or define security policies first, saving developers even more time, the company said.
Nuweba hasn’t said much about what it intends to do with the new funds, but it’s likely they’ll be used to further the technological development of its platform. “This additional funding will help continue momentum toward bringing serverless technology into the mainstream,” Neeman said in a statement.
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