Memgraph: Microsoft’s M12 Fund Participated in Investment in Startup

Lauren Simmonds

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As Poslovni Dnevnik writes, the promising Croatian startup Memgraph recently announced that they received a seed investment of an enormous 9.34 million US dollars, in which Microsoft’s investment fund M12, Heavybit Industries, In-Q-Tel, Counterview Capital, ID4 Ventures and Mundi Ventures all readily participated.

The company’s executive director, Dominik Tomicevic and technical director Marko Budiselic founded Memgraph just five years ago, and the idea was born out of the idea to provide significant analytical capabilities aided by graph databases. Since then, this Croatian startup has well and truly blossomed into something which is both recognisable and admired.

They then introduced the new Memgraph 2.0, a platform that allows developers, engineers, professionals and large companies and enthusiasts to programme their applications based on data flows and graphs in mere minutes. The Memgraph Community Edition (MCE) is available with a BSL (Business Source License) which means code openness in most situations, from personal to commercial.

They say from Memgraph that the money from this fantastic investment will be used for new development activities, the expansion of the development team and the community of developers and enthusiasts.

Although they employ people throughout Europe and have engineers in both Greece and the Netherlands, Memgraph’s main hub will still remain in the Republic of Croatia.

”The goal of this round of funding is to expand and further strengthen our team. Given the fact that our higher priority is the development of Cloud products, we’ll primarily employ Frontend (Angular) and Backend (NodeJS) engineers,” explained Marko Srsan, Memgraph’s chief operating officer.

For more on Croatian companies, startups, doing business and investments in Croatia, make sure to bookmark our dedicated Made in Croatia and business sections.


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