Foley Represents NEA and Cortical Ventures as Lead Investors in $16M Series A Financing of SeMi Technologies

Foley & Lardner LLP recently represented both New Enterprise Associates (NEA) and Cortical Ventures as lead investors in the $16 million Series A financing round for SeMI Technologies.

SeMI Technologies is a developer of the open-source Weaviate vector-search database. Previous databases just stored raw data; Weaviate stores data processed by machine learning models, allowing users to better index and search through their data. The investment will allow SeMI to grow its team, user community, and roster of partners, increase the number of use cases, and create and fine-tune its ML models and modules.

SeMI Technologies offers products and services around its Weaviate open-source solution, which includes managed services, a service license agreement, and support. Weaviate has already been downloaded over 700k times. Hundreds of users have also applied Weaviate in more than 100 different use cases in technology, finance, media, cybersecurity, health care, and many other industries.

The Foley team was led by Partner Louis Lehot and included Senior Counsel Alicia d’Alba Dorner and Associates Cayman Weimer and Saige Gallop.