The financing took place on Nov. 5 through two separate transactions.
DualBird has completed its initial rounds of venture capital funding, now having raised $24.5 million for the Westborough-based data and AI infrastructure startup’s expansion.
The financing took place on Nov. 5 through two separate transactions, with DualBird raising $8 million in seed funding and $16.5 million in Series A financing, according to company financial tracker Crunchbase. Both rounds of funding included 10 investors each, with California-based private equity firm Lightspeed Venture Partners acting as lead investor.
DualBird will use its millions in foundational funding to expand its sales and customer support teams, grow its go-to-market strategies, and enhance global enterprise partnerships, according to a Nov. 5 press release from the firm.
Founded in 2022, DualBird is a digital infrastructure company working to process cloud-based data faster and cheaper for clients.
"Data processing is the biggest workload still stuck on general-purpose CPUs. It deserves purpose-built processors just like AI has GPUs," Amir Gilad, co-founder and CEO of DualBird, said in the release. "Companies are pouring millions into data pipelines, AI data infrastructure, and analytics, but existing architecture cannot keep up."
DualBird claims its hardware-software engine can offer 10 to 100 times faster processing at 50% to 90% lower costs.
"DualBird solves one of the hardest problems in enterprise computing: how to get more performance without overhauling infrastructure," David Gussarsky, partner at Lightspeed Venture, said in the release. "Their ability to deliver that leap through pure software speaks to the team's exceptional depth in both hardware and cloud systems."
Besides its most recent funding rounds, DualBird’s only previous transaction was receiving non-equity assistance from Intel Ignite, a Tel Aviv-based startup accelerator program, according to Crunchbase.
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare, manufacturing, and higher education industries.
