Eideticom, a Calgary-based provider of computational storage solutions, has raised an undisclosed seed-stage financing.
The investors were Inovia Capital, a Canadian growth equity and venture capital firm, and Molex Ventures, an investment arm of U.S. electronics solutions provider Molex Electronic Technologies LLC.
Founded in 2016 and led by CEO Roger Bertschmann, Eideticom has developed NVMe computational storage technology to help cloud and enterprise data centre customers improve scalability and performance as well as reduce costs and energy consumption.
The company, which also has an office in San Francisco, will use the funds raised to expand its team and accelerate the deployment of end solutions.
Eideticom Announces Investment from Inovia Capital and Molex Ventures for First-to-Market NVMe Computational Storage Solution
Strategic funding puts performance, energy efficiency and cost savings within reach for managers of data-intensive storage systems
Eideticom’s NoLoad® CSP began shipping earlier this year; funding will be used to develop new software stacks for additional applications
Strategic investment from Molex Ventures ensures NoLoad® CSP is available in a wide range of industry standard storage form factors
SAN FRANCISCO, CA, July 29, 2019 /PRNewswire/ – Eideticom, whose first-to-market, NVMe computational storage solution offers cost savings and performance benefits for cloud and enterprise data center markets, today announced seed and strategic financing from Inovia Capital and Molex Ventures. Eideticom’s NoLoad® Computational Storage Processor (CSP) solves the limitations of CPU-centric computing for storage and compute-intensive workloads. Today’s financing will help Eideticom scale their team and accelerate deployment of end solutions.
Eideticom NoLoad CSP Benefits:
NoLoad CSP enables real-time data protection and analysis, reduces energy consumption and improves application performance by reducing input/output (I/O) bottlenecks.
Ideal for acceleration of storage workloads, database acceleration, machine learning inference and data analytics.
Integrates directly into software stacks like Hadoop, RocksDB, ZFS and others.
NoLoad CSP disaggregates compute and storage into independently scalable resources; therefore, providing greater scalability, performance and cost efficiency.
A Standards-Based Solution for Modern Data Center Needs:
Eideticom makes computation offload easier to consume by leading a flexible, industry-wide effort using NVMe for both computation and storage.
Eideticom’s NoLoad CSP utilizes FPGA technology, along with Eideticom’s software and industry leading computational accelerator cores.
“This funding will enable Eideticom to leverage its market leadership position in Computational Storage and to rapidly scale our NoLoad CSP solutions.” said Roger Bertschmann, CEO and founder at Eideticom. “Eideticom’s cloud and enterprise data center customers are adopting NoLoad CSP to provide improved scalability and performance and solve their problems in a transformative and cost-efficient manner.”
“Data processing is at the heart of all of our investments, and so this foundational technology has the potential to transform many sectors. We are proud to support this uniquely qualified team in scaling up their computational storage solutions.” — Shawn Abbott, Inovia Capital General Partner
“Our strategic investment in Eideticom will accelerate the creation of Computational Storage solutions, which adhere to industry standard form factors allowing them to be easily integrated into existing and next generation data center infrastructure. This investment further validates our strategy to invest in technologies that support innovation and adoption in the datacom market.” — Lily Yeung, Vice President, Molex Ventures
About Molex Ventures:
Molex Ventures, LLC, a subsidiary of Molex Electronic Technologies, LLC, proactively identifies companies, startups and technologies aligned with emerging and expanding markets for Molex product solutions. The group oversees the company’s venture and early stage investment pipeline and processes. By directing industry and compliance expertise, global design and manufacturing capabilities, equity investments, venture capital and licensing rights, Molex Ventures helps to bring early stage technologies from concept to commercialization to market expansion. www.molex-ventures.com
About Inovia Capital:
Inovia Capital is a full-stack venture firm that partners with audacious founders to build enduring global technology companies. We seek to transform venture capital by perfecting the craft of investing in people first. We roll up our sleeves to serve founders with dedicated, long-term mentorship, a global talent network, and strategic support for global scale. Together, we rewrite the rules of complex legacy industries, push technology frontiers and pursue bold visions of a better future. Inovia Capital manages over US $1B across five funds including early and growth stages, and holds offices in Montreal, Toronto, Calgary, San Francisco and London. For more information, visit inovia.vc.
Eideticom, which holds offices in Calgary and San Francisco, was founded in 2016 with the mission of developing world-class Computational Storage solutions for cloud and enterprise data centers. Eideticom’s NoLoad® Computational Storage Processor (CSP) technology is accelerating data center infrastructure, enabling greater scalability and dramatically lowering cost. www.eideticom.com