The Trinity spin-out, which is developing data management tools, now plans to double its workforce.
TerminusDB, a spin-out from Trinity College Dublin creating tools for managing and utilising data, has raised €3.6m in a seed funding round.
The Dublin start-up develops platforms for building data-heavy apps and knowledge graphs for integrating different types of data. The company was founded by researchers at Trinity before being spun out in 2018.
The seed round was led by Belgian early-stage VC firm Volta Ventures with participation from US firm Acequia Capital. Previous backers Atlantic Bridge, through its University Bridge fund, and Enterprise Ireland also contributed to the round.
The fresh funding will be used to expand the start-up’s team. It currently has 11 staff and plans to double that number over the next 18 months. While based in Dublin, the start-up will be hiring remotely around Europe to fill the roles.
“[The] funding from such high-quality investors is an endorsement of TerminusDB’s technology and approach,” chief executive Kevin Feeney said. “We have invested in our product and are growing a vibrant community of Terminators. We will use this funding to grow our commercial offering.”
TerminusDB’s two main products are its eponymous platform, an open-source solution for building applications that are data-intensive, and TerminusHub, a commercial platform for managing and collaborating with data. Both products were launched last year.
Volta Ventures’ Sander Vonk will join the board of TerminusDB as part of the funding deal.
“We are very excited about the wide commercial applications this technology enables and are happy to join the board and be part of this exciting journey,” Vonk said. “We think TerminusDB has the potential to become the leading platform in the next generation of data architecture.”
Earlier this year, TerminusDB became one of the founding members of the AI Infrastructure Alliance, an industry group and nonprofit set up to encourage greater collaboration among artificial intelligence and machine learning start-ups globally. Benchmark-backed Pachyderm and Allegro AI’s ClearML are among the other founding members.