Multi-cloud serverless platform Vendia announced a $5.1 million seed investment round led by Neotribe’s Swaroop ‘Kittu’ Kolluri and with participation from Correlation Ventures, WestWave Capital, HWVP, Firebolt Ventures, Floodgate and Future\Perfect Ventures. Vendia was founded by Dr. Tim Wagner, inventor of the Serverless movement and creator of AWS Lambda, and Shruthi Rao, former Head of BD for Blockchain at AWS. Vendia users can create distributed, multi-party applications from a schema, so no coding skills are required to get started.
Decentralization benefits of blockchain
Vendia brings together serverless ease-of-use with the decentralization benefits of blockchain and distributed ledgers, allowing enterprise IT to access and manage data easily, securely, and at scale. The company is currently working with early design partners in Automotive, Supply Chain Management, and Manufacturing, as well as Solutions Integrators and resellers. Shruthi Rao, Chief Business Officer and Co-Founder said,
“Over 80% of business data now lives outside a company’s four walls, and the complexity in managing this data is only exacerbated by emerging Edge, IoT, and digital transformation efforts. Despite their early promise, blockchains turned out to be expensive, complex, inflexible, and unable to scale. We saw the opportunity to bring the best of serverless and blockchain concepts together in a secure, decentralized, and efficient way, helping companies share data and code with fine-grained governance controls, all in real-time.”