Peaxy Inc., a San Jose, CA-based startup that provides data storage and management software, said it raised $2.5m in seed funding.
Italian Federico Faggin, who serves as chairman of the board, is among the investors.
Led by CEO Manuel Terranova, a former senior vice president at General Electric, Peaxy is developing
the Peaxy Hyperfiler™, which uses a proprietary architecture and a “multi-tenant, multi-workload” storage approach to store and manage large and unstructured datasets.
An early version of the technology is being evaluated by a select group of Fortune-100 companies. The product is planned for release late 2013 targeting mid-tier and enterprise-class customers, as well as external cloud providers.
The company has also begun Series A discussions with a group of accredited investors.