Israel Storage Start-Up Reduxio Raises $15 Million After $12 Million Last Year

Reduxio Systems Ltd. has closed a $15 million series B funding, led by Seagate Technology plc and joined by existing investors Jerusalem Venture Partners (JVP), Carmel Ventures and Intel Capital.

This comes just one year after last year’s round of $12 million.

The funds will accelerate its product development and support its go-to-market plan.

In conjunction with this investment, Seagate will obtain a seat on the Reduxio board of directors.

“We are very excited to close this funding round,” said Mark Weiner, CEO, Reduxio. “We are thrilled to have Seagate as an investor. Seagate has the know-how and the passion that has allowed them to continue to be the leader in the storage industry. Seagate’s investment validates our innovative architecture and our execution to date, and will help us to bring our products to customers earlier.”

“This investment underscores our continued commitment to further strengthen our position as a storage solutions leader from components to systems to services,” said Rocky Pimentel, president of global markets and customers, Seagate. “Reduxio has built an architecture that can truly leverage the capabilities of HDD drives, solid state storage, and future non-volatile technologies together in a single system. We believe that systems that successfully integrate multiple media types can deliver compelling price/performance and reliability benefits and will have a unique position in the market.”

“Reduxio was created with the vision that the rapidly evolving enterprise storage space needs a new disruptive architecture,” said Kobi Rozengarten, chairman of Reduxio and general partner, JVP. “In just two years, Reduxio’s team has proven its ability to provide the most advanced solutions to this rapidly growing space.“

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