CIOTechOutlook >> Magazine >> August - 2013 issue
Cloud storage firm CloudByte Inc. Raises Rs.24 Crores in Series B Funding
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CloudByte Inc., a Bangalore and California-based cloud storage firm has raised Series B round of funding worth Rs.24 crores from Fidelity Growth Partners India - the private equity arm of Fidelity Worldwide Investment. Existing investors Nexus Venture Partners and Kae Capital also participated in the round. The fund will be used for acquiring bigger labs and strengthening the company’s entire engineering delivery capability in Bangalore. Founded in 2011 by a team of five - Srivibhavan Balaram, Umasankar Mukkara, Shailesh Bam, Felix Xavier and Sunil Navalgi, CloudByte focuses on storage virtualisation and offers data centre storage solutions for cloud service providers and enterprises. It is headquartered in Campbell in the U.S., and has its engineering team in Bangalore. CloudByte ElastiStor has been verified to work with leading technology platforms, including VMware ESXi, Citrix XenServer, and Citrix CloudPlatform, and is now integrated with OpenStack block storage Cinder. The company continues to receive industry recognition and most recently was recognized for its innovation by TiEcon, Red Herring, and Network Products Guide.
“Our product is a software defined storage company and our customers are largely the services providers and managed service providers. Currently, we are seeing traction from India, U.S., Japan and Australia and we plan to tap this growth opportunity by investing largely strengthening the entire engineering team,” says Srivibhavan Balaram, Founder & COO, Asia Pacific, Japan and Europe, CloudByte.
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