San Jose AI startup raises $72M

Zededa Inc. just announced a $72 million in Series C funding. The company is a cloud-based edge management startup that works with manufacturing, retail, health care, and logistics company. Essentially they bring data closer to where it is needed for faster response times using less bandwidth.

The funds will be used to increase the amount of artificial intelligence and machine learning used in its products.

So far they have raised more than $127 million in funding and are worth about $400 million.

Source: SVBJ