History 2005: Financial Round for Several Start-Ups

• A provider of unstructured data management, Kazeon  Systems, born in 2003, has secured $17 million in funding. Its 1st product is expected to be available in mid-2005. Its CEO and co-founder Sudhakar Muddu is the founder of Sanera Systems, sold to McData in 2003.
• Ingrian  Networks, working in secure networking platforms that utilize encryption, has completed a $15.4 million 4th round of venture funding. The company has received a total of $55.4 million to date.
• For its 3rd financing round, Nantero, working on nonvolatile RAM memory, has received $15 million, bringing its total financing to $31.5 million.
• ExaGrid  Systems now boasts a total investment of $22 million, after its recent 2nd round of $13.5 million from existing investors.
• Picolight, into optical transceivers for enterprise, storage area, and metro networking markets, has raised $13 million in its latest funding round. The company is looking to close another $4 million to $7 million in funding in 2005. It raised a total of $90 million in prior capital, including the most recent round.
• Neoscale Systems, involved in storage security with an encryption appliance, signed on $12 million in new financing commitments, increasing total funding to $43 million. The company said that is has achieved over 100% sales growth in each of its last 3 quarters.
• OuterBay  Technologies, an EMC partner for an ILM database solution, has received $12 million in a 3rd financial round, for total funding now of $40 million.
• SiliconStor has completed its 2nd round of funding, raising $9 million, following private individual investment of $3 million in seed capital. The company offers chips enabling enterprise disk arrays using SATA drives.
• Switch fabric maker TeraChip has raised $7.2 million in its latest funding round.

This article is an abstract of news published on issue 208 on May 2005 from the former paper version of Computer Data  Storage Newsletter.