Hyperspace Aims to Revolutionize Database Searches with Innovative Technology

Ohad Levi, CEO and co-founder of Hyperspace, is advocating for a shift in how companies approach data retrieval. Unlike traditional lexical searches that rely on exact keyword matches, Hyperspace employs vector searches that understand the semantic meaning and context of queries. Levi asserts that their technology, which combines FPGAs and GPUs, can achieve search speeds up to ten times faster than conventional databases, making it particularly beneficial for AI and generative AI applications. Hyperspace operates as a cloud-native managed database service, currently hosted on AWS, and follows a software-as-a-service model that charges based on usage. Levi emphasizes the company's ability to create tailored AI infrastructure solutions to address specific search challenges faced by enterprises. He claims that Hyperspace's instances not only provide five times higher throughput but also do so at a 50% lower cost compared to standard databases. Despite the competitive landscape dominated by established players like Azure, AWS, and Google Cloud, Levi is optimistic about Hyperspace's prospects. The Tel Aviv-based startup has already secured partnerships with companies in fraud prevention and e-commerce, such as Forter and Renovai, and has seen significant growth, tripling its annual recurring revenue over the past year. Recently, Hyperspace raised $9.5 million in seed funding, led by MizMaa, with contributions from JVP and toDay Ventures. This funding will be directed towards expanding their database offerings and launching a free entry-level plan, addressing the increasing demand for advanced search capabilities in the evolving landscape of generative AI.