Investors rain cash on Excelero, taking total funding to $30m
Qualcomm punts on NVMe-over-fabrics server SAN startup
Under acquisitive siege by Broadcom, Qualcom has invested millions in NVMe-over-fabrics array startup Excelero.
The investment was almost certainly set up before Broadcom launched its bid and takes total Excelero funding to $30m. It was $20m back in 2015 when Battery Ventures led a $14.5m B-round after an earlier $5.5m A-round led by Square Peg Capital.
Since then Micron became a strategic investor and now Qualcomm is described as the third strategic investor – the other one is a mystery. By extrapolating from 2015's $20m to today's $30m we can see Qualcomm must have invested an amount in the single-digit millions.
Excelero is pleased; it's another validation of its NVMesh server SAN software technology, which can be used to build a shared NVMe-over-fabrics array or a hyperconverged system with nodes sharing an NVMe-over-fabrics-accessed virtual pool of storage drives.
It will use the cash to expand its sales, marketing and product development teams.
Merav Weinryb, MD of Qualcomm Ventures Israel, said: "Excelero is well positioned to help enterprises, OEMs and channel partners unleash more potential from their data at web scale."
We understand there's more news coming from Excelero later this year. ®
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