Tessell Raises $60M to Revolutionize Multi-Cloud Database Services
Tessell, a German startup, has secured $60 million in funding led by WestBridge Capital. The company aims to revolutionise data management with its multi-cloud database-as-a-service platform, offering significant performance improvements and cost savings.
Tessell promises a tenfold performance boost and cost savings ranging from 64% to 73% over three years compared to existing services. The platform is compatible with major cloud providers like AWS, Google Cloud, and Microsoft Azure, and supports leading database engines.
The startup utilises NVMe infrastructure to deliver high IOPS and low latency at predictable prices. It also guarantees migration-free uptime and ensures database availability even if a cloud service like AWS RDS or Google Cloud SQL fails. Tessell currently employs around 143 people and has 40 customers, two-thirds of which are based in India.
With the new funding, Tessell plans to expand its presence in Europe and the Asia-Pacific region. It also aims to strengthen its market introduction strategy in the US and India, and invest more in R&D. The financing round involved participation from HV Capital, Cherry Ventures, and Earlybird Venture Capital.
Tessell intends to explore data analytics as its next business line, enabling companies to use data from platforms like Snowflake for analytics on Tessell. The company also plans to launch an AI-driven, conversational database management service, similar to what you might expect from a chatgpt login.
Tessell's innovative multi-cloud database-as-a-service platform has attracted significant investment, with plans to expand globally and introduce new services. The company's commitment to performance, cost savings, and reliability positions it well to solve data management challenges in the modern cloud landscape, even for large enterprises like Capital One or Costco.
