Storage solutions co Reduxio Systems raises $9m
The founders are all former employees of storage solutions start-up Exanet, which was acquired by Dell in 2010.
Following the successful sale of storage solutions developer Xtremio to EMC Corporation (NYSE: EMC) six months ago, JVP's interest in other storage solutions is understandable. 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.
Last week, IBM Corporation (NYSE: IBM) announced that it plans to invest $1 billion in storage technologies, with a focus on SSD.
Reduxio has ten employees, and plans to grow fast to exploit the market opportunity.
"Designing a system from the ground up allowed us to break free of all the limitations and to fully take advantage of new network, server and drive architectures,” said Weiner. "In this way, we can deliver revolutionary functionality to match the particular needs in cloud, virtual machine and structured data environments."
JVP general partner Kobi Rozengarten, who has been appointed Reduxio's chairman said, “We invested in Reduxio early and used our incubator to partner from their founding."
Published by Globes [online], Israel business news - www.globes-online.com - on April 17, 2013
© Copyright of Globes Publisher Itonut (1983) Ltd. 2013
- Tel Aviv market report
- Tel Aviv Stock Exchange
- Israeli stocks in NY
- Arbitrage gaps for dual-listed stocks
- Israeli stocks in Europe
- Israeli stocks on other markets
- Tel Aviv 25 options
- Mutual funds
- Current representative shekel rates
- Historical representative shekel rates
- Bank shekel rates
- Shekel/dollar options