US-based data centre infrastructure technology startup Fungible launched yesterday with $32.5m of series A funding from investors including networking equipment provider Juniper Networks.
Venture capital firms Mayfield, Walden Riverwood Ventures and Battery Ventures co-led the round.
Pradeep Sindhu, a co-founder of Fungible, is a co-founder and the chief technology officer of Juniper Networks but plans to step down from the CTO position to focus on the new venture.
Fungible has not disclosed firm details of its technology but it is working on a full-stack offering it claims will be able to improve the cost, reliability and security of cloud data centres. It intends to release its first product in 2018.
Sindhu said: “At Fungible, we are building a full-stack silicon, software and packaging solution that leverages standard components, protocols and interfaces, and will make a big impact on cloud data centres.”