NGD Systems, an Irvine, Calif.-based Computational Storage company, raised $20m in Series C funding.
The round was led by MIG Capital with participation from Western Digital Capital Global, Ltd, the strategic investment fund of Western Digital Corp. (NASDAQ: WDC), and existing investors, including Orange Digital Ventures, Partech, BGV and Plug-N-Play. NGD also added a new member to its Board of Directors, Richard Merage, CEO of MIG Capital. Dan Flynn, president of Western Digital Capital, will serve as a Board Observer. With this latest round, NGD has raised $45m to date.
The company intends to use the funds to to execute its go-to-market strategy, including supporting production as well as sales and marketing efforts.
Founded in 2013 by Nader Salessi, CEO, NGD Systems manufactures an advanced computational storage drives (CSDs) that allow customers to compute anywhere the data resides. The technology is ideal for edge computing networks, data-intensive AI/ML applications, stringent SLA environments, content delivery networks (CDNs) and hyperscale environments.