GigaIO raises $ 14.7 million in oversubscribed Series B funding

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SAN DIEGO–(BUSINESS WIRE) – GigaIO, the developer of the next-generation rack-scale architecture for artificial intelligence (AI) and high-performance computing (HPC) solutions, today announced the completion of a Series B funding round totaling 14 $ 7 million known. Impact Venture Capital led the financing round, which was oversubscribed by 50% and included the participation of Mark IV Capital, Lagomaj Capital, SK Hynix and Four Palms Ventures.

GigaIO has fundamentally changed the HPC and AI landscape by creating the world’s only universal enterprise-class composable fabric – a solution with open standards with limitless flexibility, cloud-like agility and an additional layer of security. This allows for faster results because workloads run as if they were using components within a server, but harness the power of many nodes all communicating within a seamless universal fabric.

With the new funding, GigaIO will aggressively expand its market and channel development by recruiting more partners and expanding channel programs. GigaIO will dedicate more resources to customer and partner development programs – with the goal of accelerating sales and marketing efforts.

The universal composable fabric from GigaIO, FabreXtm, orchestrates workloads by configuring any HPC and AI resources on the fly and integrating networks, storage, memory and specialized accelerators into a single-system cluster fabric. By increasing the flexibility and agility of HPC and AI environments, the GigaIO solution significantly reduces costs through higher utilization and minimized server requirements, thus saving cooling, power and space requirements. GigaIO is revolutionizing the HPC and AI space by democratizing access to expensive specialized resources like accelerators by sharing them with users and workloads, and simplifying implementation for IT managers.

“We have great technology and a development team with incredible expertise gained through years of working on some of the best performing connections at companies like Cray, Sun Microsystems, Cisco, Emulex and QLogic,” said Alan Benjamin, President and CEO of GigaIO . “Today, with the completion of this funding round, we are better positioned to bring the technology into the hands of more customers and distributors and to attract commercial and non-commercial customers.”

Benjamin continues: “Hardware testing was difficult because of the pandemic. However, since the beginning of the year we have been able to bring equipment into the facilities and the results have been fantastic for us, ”he said. “Our customers are thrilled with the results and impressed with what they can do with the technology, and to be honest, they are amazed that we are getting results that the industry has been seeking for more than a decade. Given the strong demand for a universal composable fabric, we’ve had tremendous support from the investment community. The oversubscription provides a solid runway for future investments, ”said Benjamin.

PCIe Gen 4, a high-speed serial computer expansion bus standard that transfers high-bandwidth, low-latency data between multiple components, is the technology that computers, data centers, and the wireless industries rely on to power the next generation of cellular and Enable desktop applications. The same technology will also enable the efficient use of accelerators, including moving data from memory to accelerators more quickly. With PCIe Gen 5 and CXL, GigaIO can be expanded to take advantage of storage pools to create a shareable, ordinary composable element.

Jack Crawford, Founding General Partner at Impact Venture Capital, added, “We are excited to lead this funding round, including a co-investment from SK Hynix, and believe that GigaIO’s breakthrough technology and team will continue to be the way forward Will revolutionize the way companies manage data. “” We believe the company is a catalyst for the next generation of data and storage performance and an ideal artificial intelligence startup to work with and invest in. ”

“Our continued investment in GigaIO is based on our confidence that the power of HPC and AI can solve critical challenges at all levels,” said Felix Williams, founder and managing director of Lagomaj Capital. “The GigaIO team is working to enable the next generation of computing infrastructure, and we’re proud to call them partners.”

“We are very excited to be working with Alan and the entire GigaIO team on their journey to establishing a new model for data center infrastructure,” said Michael Beaudoin, director of private equities at Mark IV Capital. “By leveraging the power of a universal composable fabric, GigaIO offers a powerful solution that makes HPC and AI more accessible to its customers.”

GigaIO was founded in 2012 by Joey Maitra, then employed elsewhere, but was mostly an idea on a napkin until Alan Benjamin joined the company in 2017 and raised the first round of seed capital, followed by a Series A round in 2018 under the Head of Mark IV Capital. The first product line was launched in 2019 and the company is now taking on the democratization of HPC and AI through its universal fabric connection FabreXTM.

Further information on GigaIO can be found at https://gigaio.com/.

About GigaIO

GigaIO, headquartered in Carlsbad, California, democratizes AI and HPC architectures by providing the elasticity of the cloud at a fraction of the total cost of ownership (TCO). With its universal dynamic infrastructure fabric FabreX ™ and its innovative open architecture using industry standard PCI-Express / soon-to-be-CXL technology, GigaIO breaks through the limitations of the server box and frees up resources to reduce the time to results. Data centers can scale or scale the performance of their systems so that their existing investments can flexibly adapt to workloads and business changes over time. For more information, contact [email protected] or visit www.gigaio.com. Follow GigaIO on Twitter and LinkedIn.

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