Enterprise IT company Hewlett Packard Enterprise (HPE) yesterday contributed to a $21.5m series C round for US-based distributed storage technology developer Hedvig.
EDBI, the investment arm of government-owned statutory board Singapore Economic Development Board, Oman Technology Fund, a vehicle established by the government of Oman and managed by Atlantic Bridge, and Vertex Ventures, a VC subsidiary of Singapore’s sovereign wealth fund Temasek, also participated.
True Ventures also backed the round, which has boosted Hedvig’s total equity to $52m.
Hedvig has developed software-defined storage technology that can be scaled to several petabytes (1PB equals 1000 gigabytes) of data and run in private and public clouds.
The money will support further international expansion, the development of an end-to-end cloud and backup product for large enterprises and will drive recruitment across the engineering, sales and channel teams.
HPE will help Hedvig to attract more enterprise clients, while EDBI will provide its expertise for expansion efforts across the Asia Pacific Region.
Vertex Ventures previously led an $18m series B round in June 2015 with participation from True Ventures and Atlantic Bridge. In March 2015, Atlantic Bridge led a $12.5m series A round that also included True Ventures and Redpoint Ventures.