Israel-based hybrid storage technology developer Reduxio Systems has raised $15m in a series B round that featured Intel Capital, the corporate venturing arm of semiconductor chip manufacturer Intel.
Data storage company Seagate Technology led the round, which also included venture capital firms Jerusalem Venture Partners and Carmel Ventures.
Reduxio develops hybrid storage arrays specifically designed for cloud-based companies. The capital will be used to fuel the company’s product development and support its commercialisation.
Mark Weiner, chief executive of Reduxio Systems, said: “We are very excited to close this funding round. We are thrilled to have Seagate as an investor. Seagate has the know-how and the passion that has allowed them to continue to be the leader in the storage industry.
Seagate’s investment validates our innovative architecture and our execution to date, and will help us to bring our products to customers earlier.”
The company raised $9m in a series A funding in April 2013 from JVP and Carmel Ventures, which was followed by an undisclosed sum from Intel Capital six months later.