Bangalore-headquartered Datagres raises $2M Series A funding from Nexus Venture Partners
Bangalore-based new data management platform Datagres Technologies has secured $2 million (~Rs 10.6 cr) in Series A funding from Nexus Venture Partners (NVP). The company will use the funds to expand its footprint in the US and Asian markets. As part of the agreement, Sandeep Singhal of Nexus Venture Partners will join the Datagres board.
" We are going to open an office in Singapore and will be moving to a new office in the US. We have not drafted any specific plan yet, but are expecting a good traction in these geographies," Srinivasan Viswanathan, founding chief technologist and CEO of Datagres told VC Circle. "Datagres already has a few customers in the US in the Big data space and we are looking to win more customers."
Viswanathan said that the company's R&D will continue to be developed from India.
Datagres also announced the launch of PerfAccel, its next generation transparent data management platform that accelerates, manages and scales application data in a heterogeneous storage environment. "The product is ready and we started shipping," Viswanathan said.
Founded in 2010, Datagres deals with companies building carrier and enterprise class storage, file systems, distributed computing platforms, data center interconnects and performance computing solutions at large companies. CEO Vishwanathan has 21 years of experience in system architecture, storage, virtualization and Cloud computing solutions.
About the funding, Sandeep Singhal of NVP, said, "We liked Datagres' approach to solving the complexity of data management and their scalable and flexible solution architecture. Datagres is an example of world class product companies that are emerging from India."
The Mumbai-based NVP focuses on opportunities at the early stage. Some of the companies that Nexus has invested in include Cloud.com (Cloud provisioning platform acquired by Citrix), DimDim (Open Source Web Conferencing acquired by Salesforce.com), d.light (solar lighting and appliances), Druva (automated file backup and synching), Gluster (Open source cloud storage, acquired by Red Hat), Netmagic (Managed Services and Cloud acquired by NTT), Pubmatic (Publisher Ad revenue optimization), Snapdeal.com (Indian e-commerce marketplace), Suminter (organic farming), and Talentsprint (Indian education services).
(Edited by Prem Udayabhanu)