Finnish Vendep announces $6.5M investment for Hopsworks

Swedish Vendep, an operational AI platform, has raised a $6.5 million round led by Finnish early-stage SaaS investor Vendep Capital. Fresh costs will be spent to expand the company’s commercial operations and footprint.

• Espoo-based Vendep Capital is a B2B SaaS specialist VC operating in Nordics and Baltics. It backs early-stage software entrepreneurs. In 2022 AIN.Capital recognized it as one of the most active Finnish VC funds. Earlier this year, the firm invested €2 million in the Danish PatentRenewal platform.

• Hopsworks provides an operational AI platform that centralizes and governs the data used in AI models and enables real-time AI. It brings together the data, models, and people who build AI systems, enabling higher performance AI to be produced faster. Among its clients are American-First Credit Union, PaddyPower-Betfair, and the Swedish Public Employment Service. With offices in Stockholm, London and Palo Alto, Hopsworks aims to make machine learning easy for companies.

“Hopsworks enables enterprises to continue to reap AI & ML benefits while shortening development time and lowering overall costs of ML projects. We are proud to join Hopsworks and help them further build on their lead in the feature store market,” 

Sami Ahvenniemi, General Partner of Vendep commented.

• The startup will use the financing round to expand its commercial operations and footprint, particularly in the US market, as well as to further expand its technological lead.