Alibaba Group Leads $26.4M Funding Of Israeli GPU Database Developer SQream

May 30, 2018 | Tel Aviv-based startup SQream, a GPU database provider that analyzes data stores cost effectively, announced it has raised $26.4 million in a Series B funding round led by China’s multinational e-commerce giant Alibaba Group. The round also had participation from new and existing investors that included  Hanaco Venture Capital, Sistema.vc, World Trade Ventures, Paradiso Ventures, Glory Ventures, and Silvertech Ventures. The funding from the e-commerce group is considered a “stategic investment” that “deepens the relationship between Alibaba Cloud and SQcream,” according to a statement. The companies already announced a collaboration agreement  in February for Alibaba Cloud customers. “SQream is uniquely positioned to provide enterprises with the solution they require to lower the barrier for accessing and analyzing rapidly growing, large-scale data stores in the cloud. We are pleased to expand our relationship with SQream, and work together to accelerate the growth of the cloud industry,” said Chaoqun Zhan, Director of Alibaba Database Business. SQream was founded in 2010 by Ami Gal, Kostya Varakin, and Razi Shoshani. It is known for its SQL analytical database SQream DB, which gives companies the opportunity to analyze “up to 20 times more data, up t0 20 times faster, at as little as 10 percent of the cost and administration.”