Aerospike, a real-time database built for scale, speed, and savings, announced the close of a $109 million growth capital investment from Sumeru Equity Partners (Sumeru) with additional investment from existing investor Alsop Louie Partners.

The investment accelerates innovation and go-to-market capabilities for Aerospike’s core transaction, analytics, and AI solutions, including vector and graph databases, to meet the data demands of a global data analytics and artificial intelligence (AI) software market projected to reach $251 billion by 2027 by IDC Research, said the company.

“The Aerospike database is purpose-built for unprecedented scale, the highest performance and the lowest latency, which is why the explosion of real-time data has fueled our business momentum. Quite simply, we were made for this challenge. As AI applications demand context, we offer the only production-level vector solution that delivers consistent accuracy at scale on significantly less infrastructure than anyone else,” said Subbu Iyer, CEO of Aerospike.

Aerospike powers many of the transactional and machine learning (AI/ML) applications at global enterprises, including Adobe, AppsFlyer, Barclays, Flipkart, Myntra, PayPal, and Riskified. It enables organisations to feed AI/ML systems high volumes of real-time data faster and at significantly lower cost than other database providers.

Aerospike operates on a fraction of the infrastructure required by other databases, reducing server footprints and costs by as much as 80 per cent. This is especially important as companies balance the needs of increased IT infrastructure while simultaneously reducing carbon emissions.