About Vespa.ai
Vespa.ai is a company based in Trondheim (Norway) founded in 2017 by Kristian Aune, Tim Young, Frode Lundgren, Kim Omar Johansen, and Jon Bratseth. It operates as a SaaS (Software-as-a-Service), and Managed Services. Vespa.ai has raised $31 million across 1 funding round. Vespa.ai offers products and services including Vespa AI Search Platform, Vespa Cloud, and Generative AI (RAG). Vespa.ai operates in a competitive market with competitors including DataStax, Weaviate, Qdrant, LanceDB and SeMI Technologies, among others.
- Headquarter Trondheim, Norway
- Founders Kristian Aune, Tim Young, Frode Lundgren, Kim Omar Johansen, Jon Bratseth
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Sectors
Technology
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Email
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Phone
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Website
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Social
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- Legal Name Vespa.Ai As
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$31 M (USD)
in 1 rounds
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Latest Funding Round
$31 M (USD), Series A
Nov 02, 2023
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Investors
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Employee Count
Employee Count
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Products & Services of Vespa.ai
Vespa.ai offers a comprehensive portfolio of products and services, including Vespa AI Search Platform, Vespa Cloud, and Generative AI (RAG). The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Platform for AI-driven search and data applications.
Cloud-based solution for scalable AI search deployment.
Retrieval-Augmented Generation for enhanced AI search relevance.
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Funding Insights of Vespa.ai
Vespa.ai has successfully raised a total of $31M through 1 strategic funding round. The most recent funding activity was a Series A round of $31 million completed in November 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Series A — $31.0M
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First Round
First Round
(02 Nov 2023)
- Investors Count Investors Count
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Nov, 2023 | Amount | Series A - Vespa.ai | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investments & Acquisitions by Vespa.ai
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Vespa.ai
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Vespa.Ai Comparisons
Competitors of Vespa.ai
Vespa.ai operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as DataStax, Weaviate, Qdrant, LanceDB and SeMI Technologies, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Cloud based database platform for enterprises
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Vector database for AI-powered search and applications is developed.
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AI-powered vector database for data search and management.
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Developer of a unified data platform designed for multimodal data
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| domain | founded_year | HQ Location |
Offers AI and cloud-based storage solutions for objects and vectors.
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| domain | founded_year | HQ Location |
Open source based vector database for AI app development
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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On-demand services are booked through an app-based platform.
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App based platform offering on demand delivery and ride-hailing services
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Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Vespa.Ai
Frequently Asked Questions about Vespa.ai
When was Vespa.ai founded?
Vespa.ai was founded in 2017 and raised its 1st funding round 6 years after it was founded.
Where is Vespa.ai located?
Vespa.ai is headquartered in Trondheim, Norway. It is registered at Trondheim, Trøndelag, Norway.
Who is the current CEO of Vespa.ai?
Jon Bratseth is the current CEO of Vespa.ai. They have also founded this company.
Is Vespa.ai a funded company?
Vespa.ai is a funded company, having raised a total of $31M across 1 funding round to date. The company's 1st funding round was a Series A of $31M, raised on Nov 02, 2023.
What does Vespa.ai do?
Vespa.ai is established as a leading AI search platform designed for developing and operating large-scale applications. It integrates big data, vector search, machine-learned ranking, and real-time inference to support enterprise-scale AI solutions. The platform is utilized across various sectors including e-commerce, financial services, FinTech, health and life sciences, market intelligence, and travel and hospitality. Solutions provided include AI automation, Generative AI with Retrieval-Augmented Generation (RAG), and personalized recommendation systems. Vespa.ai is built to handle billions of data items and thousands of queries per second with low latency, ensuring high performance and scalability.
Who are the top competitors of Vespa.ai?
What products or services does Vespa.ai offer?
Vespa.ai offers Vespa AI Search Platform, Vespa Cloud, and Generative AI (RAG).