Preeti
FalkorDB operates in the graph databases market, valued at over $3 billion and expected to grow at a rate of 21.9% until 2030. The company is targeting the fast-growing market of large language models (LLMs) and Generative AI, with a global market value of $200 billion in 2023. FalkorDB provides GraphRAG technology, integrating large language models with knowledge graphs to enhance accuracy and context-aware answers.
The company’s unique advantage lies in its fast graph database using sparse matrices and algebraic expressions computation for querying. The founders bring over 50 years of combined experience in building low-latency databases, positioning them well to develop innovative solutions. FalkorDB aims to address the challenges faced by enterprises in deploying LLM-based applications by providing a reliable and efficient solution.
The recent investment round of $3 million in seed stage funding will be used to accelerate the development of their GraphRAG solution and jumpstart their Go-To-Market strategy. FalkorDB’s main customers include enterprises in finance, healthcare, e-commerce, and technology sectors, where reliable and efficient data processing is crucial. The company’s product is already in production with several companies, and they have just launched their FalkorDB-hosted solution.
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