Database Software Provider SphereEx Completes Pre-A Round of Financing Worth Nearly $10 Million
On Tuesday, SphereEx, an innovative basic database software provider, announced the completion of its Pre-A round of financing worth nearly $10 million. The leading investor was Vision Knight Capital, co-investors were Sequoia China Seed Fund, Chuxin Capital Partners Ltd., and Index Capital. Index Capital also acted as the exclusive financial adviser to the deal. The funds are marked mainly for product R&D and commercial verification.
SphereEx was founded in April 2021 by core members of Apache Sharding Sphere. All its core members are from leading Internet companies or famed basic software providers. All have vast experience in basic software architecture, research and development, implementation, delivery and marketization.
China is quickly becoming much more digital and databases play an integral role in the infrastructure of the digital economy. Some reports suggest that China’s database market will be worth more than 68.8 billion yuan by 2025. Further, open source collaboration is profoundly affecting the development of technologies used by companies.
SphereEx actively connects developers and users around the world, and promotes the stable and dynamic development of the Apache Sharding Sphere open source community. At present, more than 50% of Apache Sharding Sphere’s code comes from community contributors outside f the company, while all the seed customers of SphereEx emerged from the community.
SphereEx has now established working relationships with Huawei’s open source database openGauss and Yunhe Enmo (Beijing) Information Technology’s platform MogDB. In addition, many companies are integrating its products during their production, including those in the field of the Internet, finance, O2O, logistics and cloud computing.
In the commercial product matrix planned by SphereEx, the system construction based on cloud capability is the top priority of future work. At the same time, innovative cloud products on databases based on the concept of Database Mesh will also accelerate R&D.
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In the future, SphereEx will continue to strengthen the construction of the open source community, increase its investment in technology R&D, and gradually explore overseas markets to further accelerate commercialization on a global scale.