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HomeBlockchainW-S blockchain company Fluree merging with NJ AI startup

W-S blockchain company Fluree merging with NJ AI startup

winston salem – Fluree will merge with ZettaLabs, a Winston-Salem company announced Thursday.

ZettaLabs, a New Jersey-based company that offers products that use artificial intelligence and machine learning, said in a statement that the merger will bring the two companies and all employees together into the Fluree ecosystem.

Fluree PBC was co-founded by CEOs Brian Platz and Flip Filipowski in 2016 and is headquartered in Winston-Salem.

The company has built a platform that “organizes blockchain-protected data into a scalable semantic graph database” and is based on a set of World Wide Web Consortium semantic web standards. WRAL TechWire reported in December 2021 that the company was a “pacesetter” in adopting such standards.

“We are building the data infrastructure for the future,” Platz said in a statement. “Many of our customers enjoy the unique benefits of our semantic graph distributed ledger database technology. But we recognize that in order for organizations to build the infrastructure they ultimately want, they first need a way out of entrenched silos.”

Winston-Salem startup Fluree emerges as Web3 pacesetter

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According to a March-April 2020 survey by Coleman Parkes, nearly 74% of organizations have failed to complete their legacy data migration projects.

In merging the two companies, Fluree aims to help large organizations complete these processes while also focusing on security, governance and semantic interoperability, the statement said. I’m here. Fluree said he partnered with another North Carolina company, Lead Semantics, in June 2021 to provide an integrated solution for enterprise data management teams looking to build a secure semantic-enabled data fabric, he said at WRAL. TechWire reports.

The merger with ZettaLabs also included a rebranding of the product built by ZettaSense, now known as Fluree Sense. According to a statement, the product is “a data pipeline that uses AI and machine learning and ontologies to normalize, cleanse, and harmonize data from disparate data sources.”

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In short, the product enables enterprises to make data available across their entire organization. Fluree also has three U.S. government contracts for him in 2021.

Eliud Polanco, co-founder and CEO of ZettaLabs, who will become president of Fluree, said: “The problem is that the underlying data technical architecture — multiple operational data stores, warehouses and lakes spread across multiple clouds — continues to grow in complexity.”

The combined company will be able to serve 9 out of 10 companies “hindered by legacy infrastructure and database systems that don’t have the toolsets and talent to effectively transform,” the statement said. I think.

Fluree was founded in 2016 and is primarily backed by a $2 million investment from the founders, although some friends and family capital is involved, according to the company’s WRAL TechWire profile from 2017. The company raised $4.7 million in 2019, plus $6.50. 1 million in 2020.

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