DBtune raises €2.4M to revolutionize database tuning with AI
Malmö-based startup DBtune has secured €2.4 million in a seed funding round led by 42Cap, with participation from Tiny Supercomputer Investment Company, Axeleo Capital, JVH Ventures, Exxeta Ventures and angel investors Kingston Duffie, Peter Zaitsev and Martin Hell.
“This funding round will enable us to simplify tuning processes using artificial intelligence, empowering organisations to achieve unmatched efficiency and productivity in their database operations.” DBtune founder and CEO Luigi Nardi said.
With this funding secured, DBtune is well-equipped to broaden its product range, expand its team of skilled professionals and accelerate its journey in revolutionising database management.
Nardi emphasised his immense pride in the seven-member team and the company’s advisors. He said they bring diverse expertise in machine learning, database and cloud technologies to the company.
DBtune provides a cloud and on-prem service that uses AI to simplify the tuning of database systems. By using this service, users can save time that would otherwise be spent on database administration tasks.
According to DBtune, its solutions reduce computing resource requirements, resulting in greater efficiency in Financial DevOps (FinOps) and decreased CO2 emissions.
Established in 2020, DBtune is a spin-off of Stanford University and Lund University, building on eight years of academic research and development in machine learning.
Database management market
In the database management space, there are several notable competitors to DBtune, such as Oracle, Microsoft SQL Server and IBM Db2.
Per recent Market Research Future (MRFR) report, the global database management platform market is expected to experience rapid growth over the next decade.
By 2030, the market is projected to reach a staggering valuation of approximately $158.57 billion, with a compound annual growth rate (CAGR) of over 11.53 percent during the forecast period.
This growth could be attributed to the increasing demand for efficient data management solutions, particularly from businesses and organisations that rely heavily on data-driven insights to drive their operations.
The report also highlighted the key factors driving the market’s growth, such as the rising need for real-time data processing, the increasing use of cloud-based platforms and the growing importance of data security and privacy.
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