Carmaker BMW took part in a $15.5m series A round for Vendia, the US-based creator of a distributed data sharing platform, through corporate venturing arm BMW i Ventures on Wednesday.
Canvas Ventures led the round, which was also backed by fellow venture capital firm Sorenson Ventures in addition to Vendia’s seed-stage investors.
Vendia has built a software platform that enables enterprise customers to share real time data and code across multiple clouds. It announced the funding alongside the release of a free tier of its product for developers this week, called Vendia Share.
BMW i Ventures partner Kasper Sage said: “The automotive industry, including BMW, relies heavily on partners for flawless execution. A shared view of data between partners is critical for responding to market changes such as covid.
The beauty of Vendia’s technology is that it combines the scalability of serverless computing with the security of distributed ledger technology. This means enterprises can build a data exchange system that scales with whatever project they are working on while ensuring full control over access to their data.”
The startup had previously secured $5.1m in a July 2020 seed round led by Neotribe Ventures and backed by Correlation Ventures, WestWave Capital, HWVP, Firebolt Ventures, Floodgate, Future\Perfect Ventures and angel investor Swaroop ‘Kittu’ Kolluri.
