San Mateo-based company Cloudian recently launched its subsidiary firm Edgematrix which focuses on data analytics. The new firm will first push its operations in Japan, says TechCrunch.
Upon joining the Series A funding round, the subsidiary was able to raise around $9 million from various investors. This includes Japan Post Capital, NTT Docomo, and Shimizu Corporation. Cloudian co-founder and CEO Michael Tso, as well as its board director Jonathan Epstein, also participated in the round.
Meanwhile, the parent company was able to raise $174 million in the $94 million-Series E round. The storage company owns Edgematrix through majority stocks.
Cloudian storage solutions
With both parent and daughter companies getting funding during their respective rounds, Cloudian has released innovative storage solutions. The HyperStore Xtreme released this year garnered recognition at IBC2019, according to Globe News Wire.
The object storage solution received the IABN Bam “Store” award and the TVBEurope Best of Show award, two of the highest awards in the event. This innovation is referred to by IABM as “a great product addressing the ever-increasing need for storage.” It is also touted as a “robust industry solution offering an extremely compact footprint and integration with leading media workflow systems.”
HyperStore Xtreme allows users to enjoy the advantages large public clouds have to offer but within their own systems. This enables content creators and owners to control, manage and secure their own respective data.
The press release also said that the solution can store and manage more than 55,000 hours of 4K video content. Cloudian also boasts of the HyperStore Extreme’s immense size as it occupies “just 12U of rack space,” amounting to 75% savings in space. Cloudian worked with Seagate to provide this solution.
TechCrunch said that Cloudian currently funnels its funds and efforts to create solutions that need real-time analytics with Edgematrix. This aligns with the parent company’s services, which process millions of data.
Tso noted that there is a need for cutting-edge data processing services, especially as “more and more data [is being] created at the edge.” This need comes along with the need for more efficient storage.
The Japan-based subsidiary will launch its first services in the country. Tso said that the analytics services will utilize artificial intelligence in order to facilitate efficient and precise data processing. The company is expected to grow substantially with a projected growth rate of 45.3% from 2018 to 2023.