Avaneidi Secures €8 Million Series A

Avaneidi SpA, Italian star-up specializing in security enterprise storage systems, announces an €8 million Series A funding round led by United Ventures.

This investment underscores a shared commitment to advancing solid-state storage technologies, enhancing data security, and promoting a sustainable digital transition.

Avaneidi develops comprehensive enterprise storage systems based on a 360° multi-level “security by design” approach, enabling a high degree of cyber security, protection and data reliability for enterprise-grade applications. Firm’s storage technology advancements boost performances, security and reduce the overall energy consumption. This allows electronic devices and data centers to limit their carbon footprint, addressing key sustainable development goals such as clean energy and sustainable industry innovation.

Avaneidi’s Enterprise Solid State Drives (ESSDs) utilize tailor-made chips and advanced algorithms, providing a bespoke solution optimized for performance and cyber security applications. Designed for on-premise data centers, their storage appliances offer a cost-effective, efficient alternative to traditional storage solutions, featuring extended drive’s lifetime, improved security and significant energy savings.

“Our mission at Avaneidi is to pave the way for more secure, efficient, and sustainable data storage solutions,” said Dr. Rino Micheloni, CEO. “This funding will keep us at the forefront of the market, enabling us to accelerate the development of our enterprise ESSDs and all-inclusive storage appliances. Unlike off-the-shelf products, our solutions address cyber security and data governance issues by leveraging a tight hardware-software co-design while offering extensive customization options.”

Tailor-Made Security Solutions for Critical Data Governance
The start-up targets organizations and industries that are highly sensitive to data governance and security, particularly within the rapidly evolving field of AI applications, where these issues are of paramount importance, such as finance, defense, automotive and healthcare. By prioritizing data integrity and protection, it empowers entire industries to better leverage AI technology safely and effectively when it comes to storage solutions.

Its technology’s potential has attracted the attention of major industry players. Negotiations and preliminary agreements are in place to validate and expand the market reach of its innovative products.

“United Ventures invests in technologies that have a tangible positive impact,” stated Massimiliano Magrini, managing partner, United Ventures. “Avaneidi’s vision and mission to empower organisations to make better, more sustainable storage decisions is in line with our investment philosophy, and in particular, with our support of ethical AI solutions. By channeling resources into AI infrastructure like Avaneidi’s, we aim to facilitate the development of technologies that will redefine industries and transform tomorrow’s society.”

AI Infrastructure Growth and Avaneidi’s Strategic Positioning
As the AI sector rapidly expands, robust infrastructure for advanced AI applications is paramount. According to recent estimates (1), the AI infrastructure market is projected to grow from $25.8 billion in 2022 to $195 billion by 2027, reflecting a CAGR of 50%. This surge is driven by significant advancements in AI computing, which is expected to escalate from $15.8 billion in 2022 to $165 billion in 2027, achieving a 60% CAGR.

Founded by Micheloni, a seasoned expert with over 3 decades in the semiconductor industry, and supported by a team that combines storage industry veterans with brilliant young engineers, the start-up is set to transform the enterprise storage landscape. By integrating innovative hardware, firmware, and its proprietary OS, the vendor offers a 360° multi-level security-by-design approach, ensuring robust data protection and reliability while minimizing energy consumption.

(1) Source: TechGPT: Raising AI revenue forecast by 40% – UBS