Data centers are taking on ever-more specialized chips to handle different kinds of workloads, moving away from CPUs and adopting GPUs and other kinds of accelerators to handle more complex and resource-intensive computing demands. In the latest development, a startup called Speedata, which is building a processor (fabless) to cover the specific area of big data analytics, is coming out of stealth and announcing $70 million in funding to continue building its product and embark on its first commercial deals. In a market that’s seeing a proliferation of purpose-built chipsets these days, Speedata claims to have, in its own words, “the world’s first dedicated processor for optimizing cloud-based database and analytic workloads.”

The news comes after a period in which Israel-based Speedata has piloted its tech with a mix of large companies — hardware makers, end users, big-name cloud providers — to show how it can speed up their workloads, which it has, by some two orders of magnitude, CEO and co-founder Jonathan Friedmann told TechCrunch. Speedata is a fabless chip startup, so the next steps will be to produce the chips and ink commercial deals, likely with some of those running tests with the company.