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Boston-based Wasabi Technologies, a data storage startup challenging giants like AWS and GCP, announced its acquisition of the machine learning platform Curio AI from California’s metadata solutions provider, GrayMeta. Though the financial details remain undisclosed, Wasabi indicated in a press release that this acquisition will allow them to integrate Curio’s technology into a new class of AI-powered intelligent storage specifically for the media and entertainment sector.
The deal includes acquiring Curio’s intellectual property and team, with plans to launch the new AI-powered storage solution later this year. GrayMeta’s CEO Aaron Edell will join Wasabi as the senior vice president of AI and machine learning.
Curio AI, founded by David Friend and Jeff Flowers in 2017, offers “hot cloud storage,” a universal service allowing organizations to store and instantly access unlimited data without complicated tiers or extra fees. Since its inception, Wasabi has attracted over 40,000 enterprise customers and 13,000 partners across North America, Europe, and Asia Pacific.
The acquisition of Curio AI aims to enhance Wasabi’s data accessibility, particularly for media and entertainment. As studios and creators produce vast amounts of content, finding and using specific media segments efficiently has become a challenge. Curio AI addresses this by generating detailed metadata from vast quantities of stored media, enabling quick and precise searches.
With the integration of Curio AI, Wasabi plans to offer more native AI-powered search and discovery within its storage solutions. This “intelligent storage” will allow customers to store, locate, and instantly retrieve data, eliminating the need for manual searching. The new service, expected to debut in spring 2024, is seen as a significant advancement in the storage industry.
The global cloud storage market is projected to grow from $78.6 billion in 2022 to $183.7 billion by 2027, driven by the increasing data volumes within enterprises and the benefits of cloud solutions.