The first two graduates of SKTA Innovation Accelerator, the US-based accelerator operated by Korea-based technology firm and wireless operator SK Telecom, have completed their series A rounds.
US-based data storage and networking operator Pavilion Data Systems raised $15m in a round co-led by venture capital firms Kleiner Perkins Caufield & Byers and Artiman, with SKTA also investing.
Kiran Malwankar, founder and chief executive of Pavilion, said the company would use the funding to speed up plans to grow its core team, and to bring forward its product launch.
Etopus Technology, the US-based developer of cloud-based, mixed signal technology for data centres, raised an undisclosed amount from an SKTA-led round that included undisclosed strategic international investors.
Harry Chan, chief executive of Etopus, said: This is a major milestone to the company. With the new funding, we can focus on product development, sales and marketing.”
US-based SK Telecom Americas (SKTA) is the corporate venturing arm of SK Telecom and uses incubator and seed fund SKTA Innopartners, which runs the accelerator, to prepare technology entrepreneurs for venture capital investment.
SKTA Innopartners introduces startups to industry partners and provides up to $1m of funding in the form of working capital, facilities and professional services. Both Pavilion and Etopus are still in stealth mode.