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    PartsTech, a Boston-based car component startup, bags $35 million

    PartsTech, a Boston-based car component startup, bags $35 million

    Gradiant raises $225 million in Series D, enters the unicorn club

    Gradiant raises $225 million in Series D, enters the unicorn club

    Ohmium, a green hydrogen startup closes $250 million Series C

    Ohmium, a green hydrogen startup closes $250 million Series C

    Vedanta Biosciences, a clinical-stage company, secured $106.5 million

    Vedanta Biosciences, a clinical-stage company, secured $106.5 million

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      PartsTech, a Boston-based car component startup, bags $35 million

      PartsTech, a Boston-based car component startup, bags $35 million

      Gradiant raises $225 million in Series D, enters the unicorn club

      Gradiant raises $225 million in Series D, enters the unicorn club

      Ohmium, a green hydrogen startup closes $250 million Series C

      Ohmium, a green hydrogen startup closes $250 million Series C

      Vedanta Biosciences, a clinical-stage company, secured $106.5 million

      Vedanta Biosciences, a clinical-stage company, secured $106.5 million

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      Data platform startup Lightbits Labs raises $42 million led by Atreides Management

      USTechTimes Editor by USTechTimes Editor
      June 30, 2022
      Data platform startup Lightbits Labs raises $42 million led by Atreides Management
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      Data platform startup Lightbits Labs Ltd., which builds software-powered NVMe/TCP-accessed storage servers, has raised $42 million in fresh funding, taking its total funding to $105.3 million. Atreides Management led the growth capital round, which also saw participation from JP Morgan, Valor Equity Partners, OG Tech, Richard Li, existing investors and others.

      Lightbits Lab, which offers high-performance block storage, was launched in April this year on VMware Marketplace. The startup was founded in 2015 by a group of seven co-founders. The new fund will fund general business expansion and product development.

      Gavin Baker, Manager Partner and Chief Investment Officer of Atreides Management, said, “Lightbits has established itself as a clear leader in disaggregated storage solutions – poised to meet accelerated customer demand with its cloud-native data platform.”

      Lightbits raised $42 Million in growth capital. The new investment validates Lightbits as the leading platform in software-defined storage to power the cloud-native data center evolution. Read the full story: https://t.co/VLnNUMjvpj.#softwaredefinedstorage #cloudnative #data pic.twitter.com/unOn01PFL3

      — Lightbits Labs (@LightbitsLabs) June 28, 2022

      Lightbits provides a unified, consistent, high-performance data platform for any cloud that delivers efficiency, simplicity, and agility for container-based applications in a Kubernetes environment and virtualized applications.

      Lightbits provide efficiency and flexibility of disaggregation at a performance similar to local flash. A single Lightbits cluster can deliver over 40M IOPS (random Read) and 10PB user capacity, with less than 200μs latency. Organizations previously utilizing iSCSI can instead use NVMe/TCP on the same network infrastructure and realize much higher performance.

      “There is tremendous pressure on CSPs and IT organizations with private clouds to profitably keep pace with growing business demand while providing fast, resilient, secure services. Lightbits invented NVMe/TCP and has led the way in defining a cloud-native storage architecture that is simple, agile and efficient,” said Avigdor Willenz, co-founder and chairman of Lightbits Labs.

      Lightbits says it has seen strong growth, with its service used by Fortune 1000 organizations. They include several of the world’s largest financial services companies, e-commerce providers and communication service providers in response to demand for fast, resilient and secure cloud services that maximize profitability and improve margins.

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      USTechTimes Editor

      USTechTimes Editor

      USTechTimes.com is an independent new media site that focuses on the latest technology and digital news in the United States and around the world. The site focuses on new startup launching, startup funding, and development in the startup space.

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