History 2004: Financial Fundings of Two Storage Start-Ups

IP SAN start-up Equallogic has received an additional $20 million in an oversubscribed 3rd round of funding. The company has now raised a total of $52 million in equity capital. It is specialized in grid storage, computing and networking.

French Synerway, which designed and sells a tape backup appliance for small and medium businesses, has received €2 million for its 1st financial round from CITA Gestion, a VC company owned one half by French banks and one half by the kingdom of Kuwait, which now becomes a minority shareholder of the storage firm. “That should be enough for 2004 and 2005,” told us Synerway CEO Christian Maillard.

This article is an abstract of news published on issue 198 on July 2004 from the former paper version of Computer Data Storage Newsletter.