US-based data storage company Exablox has extended its series C round to $23m following a $7m investment from Toshiba America Electronic Components, a subsidiary of electronics conglomerate Toshiba.
Exablox raised an initial $16m tranche from Dell Ventures, the corporate venturing unit of computer manufacturer Dell, in February 2015. Venture capital firms DCM Ventures, Norwest Venture Partners and US Venture Partners also participated in the first tranche.
Founded in 2010, Exablox has secured a total of $45.5m to date, raising $7.5m in a 2011 series A round and $15m the following year from DCM, Norwest and US Venture Partners.
The company has developed a scalable storage device dubbed OneBlox. The technology is aimed at small and medium-sized enterprises and enables them to increase on-site storage by adding additional hard drives that are automatically recognised by the infrastructure.
The device can be managed on-site and remotely through a dedicated online service.
Douglas Brockett, CEO of Exablox, said: “Toshiba’s investment in Exablox validates our compelling solution addressing accelerating unstructured data growth. With inflexible scale-up legacy storage solutions unable to respond to rapid changes in businesses storage requirements, customers are looking for new answers.
“With instant capacity expansion and industry-leading economics Exablox offers the storage of the future today.”