Timecho Raises Over US$10 Million First Fund for Open-Source Software R&D

Timecho, founded by the creators of Apache IoTDB, an IoT-native time series database, has announced a first round of funding of more than US$10 million led by Sequoia China and joined by Koalafund, Gobi China, and Cloudwise.

Time series database has thrived in recent years to meet new data management requirements for the Internet of Things (IoT) era. Developers are seeking a database that can optimize data ingestion rates, storage compression as well as query and analytics features that match the needs of their time-stamped data applications. Based on Apache IoTDB, a top-level open-source project ranked seventh by commits (individual changes to files) in 2021 among all Apache projects, Timecho is technically capable of delivering foundational infrastructure that powers demanding industrial use cases. 

Moreover, the Timecho team has over 40 patents and papers in industry-leading, time-series management journals including ICDE, SIGMOD, VLDB.

Timecho will focus on providing solutions that will be more adaptable with high-end equipment, mass devices, computational-resource-limited platforms, and further scenarios.