Storage company Seagate was joined by existing investors -
Israeli venture capital firms Jerusalem Venture Partners (JVP)
and Carmel Ventures - as well as by Intel Capital, the VC arm of
This comes just one year after Reduxio raised $12 million.
The company will use the funds to accelerate product development
and support marketing.
"Seagate's investment ... will help us to bring our products to
customers earlier," Reduxio Chief Executive Officer Mark Weiner
Reduxio's product is expected to begin selling in the middle of
As enterprises transition from hard disk drive-based storage (HDD)
to flash-memory solid state drives (SSD), Reduxio has developed
a hybrid system that integrates the two technologies. Data is
saved on the appropriate technology based on importance or
This also reduces the costs as HDD is cheaper than flash memory
(Reporting by Tova Cohen)
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