Diablo Technologies, an Ottawa, Ontario, Canada- provider of memory system interface products, closed an additional $7.5m of funding.
This funding brings the total equity investment of the latest round to $35.5m having the company raised 28m in November 2012 (read here). It includes a new investment from U.S. Venture Partners and additional funding from existing investors.
In conjunction with the new transaction, USVP Partner Chris Rust joined Diablo’s board of directors.
The company intend to use the additional funding to launch its Memory Channel Storage™ (MCS) technology platform and to market and distribute its technology across a broader set of applications.
Founded in 2003 by Riccardo Badalone, Chief Executive Officer, Diablo Technologies Diablo provides products that are designed to enhance the performance and capability of memory system designs. Its Memory Channel Storage™ technology platform leverages the capability of NAND-flash and future Non-Volatile Memory technologies to enable increased levels of application performance supported by a new class of enterprise server and storage system designs.
The upcoming MCS products aim to enable improvements in transaction processing and data analysis within compute-servers, enterprise datacenters and cloud-computing facilities worldwide.