Intel Capital joins Reduxio fund raising round

The expansion of the financing round will bring the amount Reduxio is raising to $12 million.

Another investor is en route to joining the first financing round of Reduxio Systems Ltd., which is developing smart software for streamlining databases. The company, which announced its first financing round six weeks ago, in which it raised $9 million from Carmel Ventures and Jerusalem Venture Partners (JVP), will shortly add Intel Capital to its list of investors. The expansion of the financing round will bring the amount Reduxio is raising to $12 million.

Reduxio, which began operating in August 2012 at the JVP Media Quarter in Jerusalem, was founded by CEO Mark Weiner, Nir Peleg, and Amnon Strasser. The founders are all former employees of storage solutions start-up Exanet, which was acquired by Dell Inc. (Nasdaq: DELL) in early 2010, after a dispute between investors, including Giora Yaron and Eitan Wertheimer.

Reduxio tackles a different aspect in the transition from hard disk drive-based storage solutions (HDD) to solid state drive (SSD) solutions. The company has developed a hybrid operating system that integrates the two technologies to prioritize the saving of data on the appropriate technology on the basis of criteria, such as importance or availability. The added value is in the systems cost/benefit, because HDD is much cheaper than flash memory SSD.

Published by Globes [online], Israel business news - - on June 3, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

View comments in rows
Update by email about comments talkback
Your name
Please insert your name
Hyperlink in a new window Hyperlink Right Left underline italic bold Bulleted List Ordered List Face1 Face2 Face3 Face4 Face5 Face6
Your comment

You comment was recieved and soon will be published.
In posting comments, I agree to abide by the Terms of Use
Globes encourages lively and frank debate, but posts that the editors consider merely abusive or otherwise inappropriate will be removed. Report inappropriate content
Thank you for posting your comment, which will be reviewed for publication.
Loading Comments...load
Load more comments
Twitter Facebook Linkedin RSS Newsletters גלובס Capital  Markets Conference 2017