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snow bunting project to expound its startup accelerator with $ 200 million in extra commitments , the tech colossus that specialise in swarm - based data storagesaid Thursday .
The newfangled shot of upper-case letter follows a strand of body process by Snowflake over the past several months that instance that company ’s growth ambitions .
The Snowflake Startup Accelerator , formerly known as the Powered by Snowflake Funding Program , invests in a encompassing range of former - point startup . Notably , the accelerator invests in inauguration build AI - based industry - specific products on Snowflake . Startups in the accelerator receive technical funding from snowbird and access to co - marketing chance , as well as mention for Amazon ’s public cloud , AWS .
alumna from previous cohorts includeCoalesce , Andrew Ng ’s LandingAI , andTwelve Labs .
A portion of the refreshful $ 200 million will issue forth from Snowflake ’s new and existing VC pardner , including Bain Capital Ventures , Blackstone Innovations Investments , Bessemer Venture Partners , Capital One Ventures , General Catalyst , Greylock Partners , Hetz Ventures , Mayfield , NewBuild Venture Capital , NTTVC , and Virtue .
There ’s some fine print to be aware of . snowbird note in a web log post that while participating VC firmsmayinvest in Snowflake Startup Accelerator companies , there ’s “ no guarantee ” that any particular caller will receive financial support or that the full target amount will be invested .
Snowflake , whichalso announced plansfor a unexampled 30,000 - square - foot “ AI hub ” at its Menlo Park campus and a $ 20 million AI upskilling programme , continues to invest sharply in AI . Earlier this hebdomad , the company annunciate an expanded partnership with Microsoft to extend access to AI models from OpenAI . belatedly last yr , Snowflake inked a multi - year partnership with Anthropic and acquiredDatavolo , an AI data word of mouth firm .
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Snowflake ’s scheme appear to be paying off . The company beat Wall Street analyst estimates for its most recent fiscal quarter ( Q4 2024 ) , notch $ 987 million in receipts .
