Logical Clocks raises $5.9M in a Series A round led by Industrifonden

SaaS News -Logical-Clocks-raises-€5M-to-fast-forward-the-development-of-Hopsworks,-the-most-advanced-cloud-native-Feature-Store-for-AI(source: SaaS Industry)
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 Logical Clocks secured €5M (approx. USD 5.9M in a Series A round sponsored by Industrifonden. The money will go toward expanding the company’s commercial activities and footprint, particularly in the United States. Hopsworks, the world’s first enterprise and open-source Feature Store with a full machine learning platform, was established and is operated by Logical Works.


Logical Clocks has announced that it has raised €5 million (approx. USD 5.9 million) in a Series A funding round led by Industrifonden. Inventure also participated in this round. Logical Works is a Swedish company that created and operates the world’s first enterprise and open-source Feature Store with a full machine learning platform.

The money will go toward expanding the company’s commercial activities and footprint, notably in the United States.

Hopsworks is a centralized machine learning platform with the most powerful and comprehensive Feature Store, allowing companies to manage models with low latency access to data throughout the whole business.

Companies can use Hopsworks to quickly deploy real-time computed data, control models with enhanced data provenance, and improve data and ML team performance and communication. PaddyPower-Betfair, Getinge, and Swedbank are a few of the industry leaders using Hopsworks in production.

Too many companies working with AI struggle with disconnected teams and poor data quality that prevent or delay the development of AI applications. Hopsworks Feature Store manages data for AI, making it simpler, faster, and cheaper to move models to production. We’ve built the platform on the principle of being open, allowing teams to use their tools, cloud, and data center of choice. We are happy to partner with experienced investors that see the same opportunities as us.”

Jim Dowling, CEO and co-founder at Logical Clocks

Hopsworks is offered as a managed platform on Amazon Web Services (AWS) and Microsoft Azure and a self-managed version that can be placed anywhere. The platform comes in two editions: an open-source version aimed at individuals or small businesses and an Enterprise edition with additional security features to help companies create large-scale machine learning applications.

Industrifonden is proud to support Logical Clocks and are very impressed with its groundbreaking technology. The company’s strong research foundation, advanced technical skills, and deep customer knowledge stood out during our conversations. We anticipate that Hopsworks will continue leading and transforming how organizations manage their entire data lifecycle and machine learning pipelines and are excited to partner with them on this mission.

Rebecka Rydå, investment director at Industrifonden

We identified Hopsworks’ potential three years ago when the feature store space was undeveloped, and we are thrilled to witness the company’s technological development and business growth. Artificial Intelligence is a blossoming sector, and Hopsworks stands out as the most advanced and highest performance Feature Store available today.”

Timo Tirkkonen, co-founder and partner of Inventure
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