Diablo Technologies, founded in 2003 declared that they had seized $28 million in investment funds as a result of a recent funding round. With the close of this round, Diablo Technologies was also able to bring in several new Board members as well as European and US based investors into the fray that will aid the company that has excelled in offering product solutions for memory systems designed to boost their capability and performance.
The funds will be used to finish Diablo’s revolutionary technology platform called Memory Channel Storage™ (MCS™). This revolutionary technology, which has yet to be announced, will bring improvements in both data analysis and transaction processing in enterprise data centres, cloud computing facilities and computer servers.
Battery Ventures led the large funding round with additional financing from BDC Venture Capital, Hasso Plattner Ventures and Celtic House Venture Partners.
At this stage, founder and Chief Executive Officer of Diablo Technologies, Riccardo Badalone said that, “Over the past two years Diablo Technologies has developed an innovative memory channel-based solid-state storage platform. With this equity funding we are accelerating the completion of a system solution including hardware, software and a chip-set that will deliver breakthroughs in system performance and flash storage density for analytic data processing, web-page serving, cloud computing and other server-based enterprise computing applications. We are pleased to welcome Scott Tobin and Alex Benik both of Battery Ventures, and Yaron Valler from Hasso Plattner Ventures to our Board of Directors.”
Battery General Partner’s Scott Tobin added that, “Storage is undergoing the type of a technological revolution that we see only once every few decades, and it’s an exciting time to be involved with the entrepreneurs and technologists who are leading this new wave. Today’s emerging companies are attacking tough strategic problems, and creating tremendous value across the enterprise-storage stack. We believe Diablo Technologies has the technology and creativity to usher in the next phase of innovation in NAND-flash storage. This investment is the perfect complement to our recent success in the flash storage space, with Anobit (flash memory controllers) being acquired by Apple, and XtremIO (scale-out flash arrays) being acquired by EMC.”
Celtic House Venture Partners’ Tom Valis also had glowing commentary, stating, “Existing investors BDC and Celtic House are tremendously excited to see the evolution of Diablo being positioned to redefine in-memory computing”.
Source: Diablo Technologies
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