Excelero, a US-based provider of software-defined block data storage technology, closed a $25m series B round featuring Qualcomm Ventures, the corporate venturing subsidiary of mobile semiconductor producer Qualcomm, on Tuesday.
Venture capital firm Battery Ventures led the round, which included two strategic investors besides Qualcomm. A statement by Excelero said Square Peg Capital and angel investors including David Flynn are also among Excelero’s existing backers.
Founded in 2014, Excelero has developed a software-defined block storage product that can handle the requirements of large web-scale and enterprise applications. It has so far been used for industrial internet-of-things services, machine learning applications and massive-scale simulation visualisation.
Excelero has secured a total of $30m in venture financing to date, previously raising an undisclosed sum in a series A round featuring Square Peg Capital. The series B cash will be invested in expanding the company’s sales, marketing and product development teams.
Merav Weinryb, managing director of Qualcomm Ventures Israel, said: “Unprecedented digital data growth demands that enterprises move to new, more scalable storage systems.
“Excelero is well positioned to help enterprises, original equipment manufacturers and channel partners unleash more potential from their data at web scale. This area is ripe for continued innovation and we are thrilled to support Excelero’s growth in this space.”