Foley & Lardner LLP recently represented Cortical Ventures as an investor in the $50 million Series B funding round for Weaviate, an infrastructure startup whose technology is essential for companies trying to build generative AI tools. The Series B funding round was led by Index Ventures. Foley represented both NEA and Cortical Ventures as lead investors in the Series A funding round.
Weaviate is an open-source vector database. It allows users to store data objects and vector embeddings from their favorite AI and ML-models, and scale seamlessly into billions of data objects. Vector databases are a new type of database used to search unstructured data or images, video, and audio.
This latest round of funding values the four-year-old company at $200 million, quadrupling its previous valuation.
The Foley team was led by Partner Louis Lehot and included Of Counsel Alidad Vakili and Associates Saige Gallop and Trevor Mullin.