Avaneidi Secures €8 Million Series A led by United Ventures To Advance Storage Tech And Data Security
· The AI infrastructure market is growing 50% YoY, projected to reach $195 billion by 2027
· In this context, Avaneidi is uniquely positioned to meet the increasing demand for secure, efficient, and sustainable data storage solutions
· Funding round will accelerate development of Avaneidi's Enterprise SSDs (ESSDs) and all-inclusive storage appliances, enhancing performance, security and energy efficiency
Milan, June 20th, 2024 - Avaneidi, an innovative Italian startup 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 rigorous 360° multi-level “security by design” approach, enabling an unprecedented degree of cyber security, protection and data reliability for enterprise-grade applications. Avaneidi’s storage technology advancements boost performances, security and significantly 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, highly 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 of Avaneidi. “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
Avaneidi 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, Avaneidi empowers entire industries to better leverage AI technology safely and effectively when it comes to storage solutions.
Avaneidi’s 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 at 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 estimates1, the AI infrastructure market is projected to grow from $25.8 billion in 2022 to $195 billion by 2027, reflecting a compound annual growth rate (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 Dr. Rino Micheloni, a seasoned expert with over three decades in the semiconductor industry, and supported by a team that combines storage industry veterans with brilliant young engineers, Avaneidi is set to transform the enterprise storage landscape. By integrating innovative hardware, firmware, and its proprietary Operating System, Avaneidi 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
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About Avaneidi
Avaneidi SpA is a start-up developing enterprise storage systems, from managing the basic storage media to its proprietary Operating System. Hardware, Firmware, and Software are entirely designed with a rigorous “security by design” approach, enabling unprecedented security and reliability for enterprise-quality storage. For further information, please visit www.avaneidi.com.
About United Ventures
United Ventures is a venture capital firm based in Milan that supports visionary entrepreneurs on their journey to transform industries through technology. With a successful track record, which includes Moneyfarm, FaceIT, Fiscozen, and Musixmatch, United Ventures provides the strategic guidance, collaboration, and expertise that fast-growing companies need to scale responsibly while maximizing long-term value creation. For further information, please visit www.unitedventures.com.
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Clara Armand-Delille
ThirdEyeMedia
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