After closing its Maiden fund of Rs 100 Cr for investing startups, Exfinity Fund, the technology focused fund founded by Former Infosys CFO TV Mohandas Pai, and Former Infosys CFO V Balakrishnan among others has invested in Virtual Power Systems (VPS), US startup founded by Indian American Shankar Ramamurthy in Series A.
Vinod Dham, inventor of Intel’s Pentium chip also participated in the round.
Virtual Power Systems is raising about $4 Mn in this round of funding. “We are not disclosing each participant’s investment quantum but each of our investors has committed significantly to the round,” said Ramamurthy, CEO of VPS.
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It will be using the fresh money to accelerate product development, execute initial go-to-market activities and expand global channel partnerships.
VPS has a virtualization solution for power and it has a simple motto to provide Simple, Reliable, Efficient solutions.
“Our unique approach lies in the virtualization of power, using pooled power systems in a rack, to dynamically and optimally allocate power to applications, systems and racks that need it. This automated power resource allocation replaces massively redundant and over provisioned infrastructures resulting in increased IT reliability and density, while accelerating IT deployment and driving down TCO (total cost of ownership),” Ramamurthy said.
Ramamurthy started VPS in 2012 and had raised $1.3 Mn last year.