Logical Clocks secured capital investment

Finland Sweden Investments 21 September 2018
Share on FacebookShare on Twitter

Logical Clocks, a Stockholm, Sweden-based company working on the open-source platform Hopsworks - a big data platform for scale-out data science and AI, announced raising €1.25M ($1.5M) in seed funding.

The backers of the round were led by Timo Tirkkonen from Inventure and included investors Frontline Ventures, and AI Seed.

Logical Clocks was co-founded by Assoc. Prof Jim Dowling (CEO), Prof Seif Haridi and researchers at KTH University and RISE SICS in Stockholm. The company provides Enterprise support for the open-source Hopsworks platform to solve the data problem for Deep Learning and AI, where a new class of platform with support for GPUs is needed to refine ever increasing volumes of data into training data, the fuel for AI systems.

Hopsworks’ Big Data platform, Hops, was shown to be the world’s fastest Hadoop in work done in collaboration with Spotify and Oracle. Hopsworks’ existing customers are in a variety of verticals from finance, to the vehicle industry, to telecoms, and healthcare.

Logical Clocks has offices in Stockholm, London, and Palo Alto.