The industry leader for NVMe-over-Fabrics storage technology Pavilion Data Systems received a total of $25 million Series C investment led by Taiwania Capital.
Total funding of $58 million is acquired by Pavilion Data Systems with the addition of two major investors RPS Ventures and Taiwania Capital. The six existing investors backed the Series C funding with Kleiner Perkins Caufield & Byers leading the way. Korea Investment Partners, DAG Ventures, Tyche Partners, SK Telecom and Artiman Ventures also backed PDS.
The Pavilion Data Systems specializes in selling Non-Volatile Memory Express for flash memory systems. This technology provides a stronger connection between the stored data and the central processing units. Considered as a traditional data storage, the NVMe-over-Fabrics is attached to the processor using it to share storage.
According to Business Wire, more companies are adapting to NVMe-over-Fabrics technology because it provides advantages to large organizations.
Managing Partner of Taiwania Huang Lee said, “We are pleased to lead this round and look forward bringing Pavilion to new markets such as Asia where the cloud-scale deployments require an NVMe-oF solution without the complexities and limitations of traditional storage.”
Meanwhile, another leading investor RPS Ventures also expressed gratitude to join forces with Pavilion. Managing Partner Kabir Misra said, “When we decided to invest, we looked at the large, diverse customer base, but also the strong intellectual property. We were equally impressed by its OPENCHOICE business model and how it is changing the way storage is sold today.”
Pavilion Data Systems will use the funding to accelerate the production and delivery of the NVMe-oF products and expand its market in Asia. The company closed its second funding in May 2018 but opened a new investment round just this year to aid its expansion plans.
PDS Chief Executive Officer Gurpreet Singh said that the company has delivered a large number of systems to its leading customers and organizations worldwide. However, there’s an increase in the demand and ‘many customers are now purchasing additional arrays as they continue to scale out,’ said Singh.
In addition to expansion plans, Pavilion Data Systems will also use the funding to hire more people to be part of its team in support of its customer demand.
Pavilion Data Systems is founded in 2014 by Kiran Malwankar, Sundar Kanthadai, and VR Satish. The company headquarters is located in San Jose, California. According to CrunchBase, the PDS has an estimated revenue of $655,000 annually.