CNEX Labs, a start-up developing a transformative architecture for solid state drive (SSD) controllers, raised over $23 million in Series D venture capital.
CNEX said its patented, ground-up redesign of traditional SSD controller architecture plus its turn-key SSD design capability allows customers to procure SSDs customized for their own needs, while reducing their exposure to the cyclical swings in SSD supply that have constrained business growth. The SSD controller technology includes a highly-programmable interface to NAND flash memory, allowing the same controller to work with multiple types of NAND; flexible Flash Translation Layer (FTL) control (either drive- or host-based), allowing easier optimization for different types of workloads; and proprietary hardware acceleration supporting key functions typically run on slower firmware. The company is based in San Jose, California.
The new funding was led by early investor Dell Technologies Capital (which also led CNEX’s Series A round). Strategic investors also include M12, Microsoft’s venture fund (which led CNEX’s Series C round), major semiconductor foundries, large storage and networking semiconductor companies and other new and existing strategic investors. Additional investors in this round include Sierra Ventures, Walden Venture Investments, Brightstone Venture Capital and others.
“CNEX Labs technology relieves customers from the mercy of a commoditized market and puts them back in control of their own destinies,” said CNEX Labs CEO and Co-Founder Alan Armstrong. “We are proud to have achieved such strong backing and validation from industry partners and investors.”
http://www.cnexlabs.com
