Minio, a provider of open source object cloud storage for cloud-native and containerized applications has raised $20 Mn in Series A funding. The funding round was jointly led by Dell Technologies Capital, General Catalyst Partners and Nexus Venture Partners, with participation from Intel Capital, AME Cloud and Steve Singh.
The startup will use the recently raised funding to accelerate product development and company growth. Apart from the funding announcement the company also announced the launch of its multi-cloud object storage offering, bringing Amazon S3 compatible object APIs to all cloud-native environments.
“Minio was quick to recognise the explosive growth of unstructured data and is delivering innovative solutions to address customer’s cloud-native object storage needs. The addition of multi-cloud support underscores Minio’s deep understanding of industry trends and facilitates customer-choice” said Gregg Adkin, Managing Director of Dell Technologies Capital. “We look forward to working with Minio not only from an investor perspective but also to help them utilise Dell Technologies’ extensive ecosystem to deliver cloud storage solutions to customers around the globe.”
Related Article: Minio Raises Seed Funding From General Catalyst & Nexus Ventures
Minio, Inc. was founded in November 2014 by Anand Babu Periasamy, Garima Kapoor and Harshavardhana to address the demands of unstructured data growth. The company is headquartered in Palo Alto, California and has an office in Bengaluru as well.
Minio allows developers to store unstructured data on any public or private cloud infrastructure. With the support for multi-cloud, Minio will enable users to build their own Amazon S3-compatible object storage on bare metal, public cloud or existing SAN/NAS storage infrastructure.
“Emerging trends like AI, IoT and 5G will further accelerate the massive explosion of data taking place today,” said Anand Babu Periasamy, co-founder and CEO of Minio. “With such an influx, multi-cloud and standardisation of the infrastructure stack is inevitable. We’re thrilled to be pushing the industry forward with support for multi-cloud, and welcome our newest investors as we continue to innovate and meet growing market demand.”
Minio’s object storage server includes erasure code, bitrot protection, lambda compute and encryption. The company claims to have over 10 Mn downloads since its general availability in January 2017.
With the recent investment from Minio will expand search research and development significantly moving forward. Minio is currently looking to bridge the final data storage gap between on-premise and cloud hosting. It competes with players like Microsoft Azure, AWS, Digital Ocean, Open Stack, etc.