Start-Up Peaxy Emerges From Stealth Mode

Based on a $2.5 million seed round, Peaxy Inc., a software-based storage and management start-up  founded this year in San Jose, CA, has begun Series A discussions with a select group of accredited investors.

Technologist and Silicon Valley visionary, Federico Faggin, is among the top investors and serves as chairman of the board.

"Peaxy’s flexible architecture delivers greater operational efficiency to create a powerful total-cost-of-ownership equation. Our all-software Hyperfiler is hardware-agnostic and simplifies storage and management of data, ranging from single-terabyte to multi-petabyte," said CEO Manuel Terranova, a former SVP at General Electric.

Peaxy has assembled a 15-member team with expertise in large-scale file systems and product commercialization.

An early version of the technology is being evaluated by a select group of Fortune-100 companies. The product is planned for release late 2013. It targets mid-tier and enterprise-class customers, as well as external cloud providers.