On May 7, 2024, a New York-based startup that uses artificial intelligence to optimize cloud computing costsEspresso AIannounced it has raised $11 million in seed funding. The investors in this round include Daniel Gross & Nat Friedman (seed round lead investors), Matt Turck of FirstMark (Pre-Seed round lead investor), and several angel investors from the industry.
The company plans to use the raised funds to accelerate product development and market promotion efforts.
Espresso AI was founded in 2023 and is led by co-founder and CEO Ben Lerner. The company's main business is to use advanced language models and machine learning technology to automatically optimize code and reduce cloud computing costs. Espresso AI's technology, by deeply understanding SQL queries and database schemas, automatically refactors queries to improve efficiency. It currently mainly targets Snowflake data warehouse optimization, and subsequently plans to extend the technology to any SQL data warehouse, including supporting platforms such as Databricks in the short term.
(News source:VentureBeat）