US-based software-defined data storage technology developer Vexata raised $54m in a series A round on Wednesday, from a consortium featuring Intel Capital, the corporate venturing arm of semiconductor producer Intel.
Venture capital firms Mayfield Fund and Lightspeed Venture Partners also participated in the round, along with VC and private equity fund Redline Capital .
Vexata has developed software-defined, flash-based data storage infrastructure technology dubbed Active Data Fabric, which is aimed at data centres that power cloud-based environments and enterprise applications such as cognitive computing platforms.
The technology is capable of processing 8 million transactions per minute and 22 gigabytes of data per second while offering near real-time responses to queries.
Vexata has not specified how it intends to use the series A capital, though it launched its platform at the same time as it announced the funding.
Navin Chaddha, managing director of Mayfield, said: “The company is focused on fundamentally simplifying and accelerating data infrastructure for the applications that drive modern business.
“Their innovative approach with Active Data Fabric is solving important problems for their customers. We look forward to partnering with the Vexata team.”