Memblaze to use $20 million from Series C to fund research and development of new generation flash memory products
(August 6, 2014)
Chinese news reports that Beijing based-Memblaze has completed Series C funding with $20 million. Investors include Bertelsmann Asia Investments, Israel's Infinity Group, ZTE Corporation's Ding Xing Fund, and Genertec Investment Managers Ltd.
Memblaze reportedly plans to use the investment for research and development, as well as market development for the new generation of flash memory products, including the revolutionary FlashRAID. FlashRAID is able to significantly prolong SSD endurance by four times, reducing associated replacement frequency and costs while decreasing infrastructure total cost of ownership. It will be offered in three capacity models: FlashRAID I, FlashRAID II, and FlashRAID III, each with 4TB, 8TB, and 16TB respectively.
John Baskett, VP for North American Business Development said, "Reliability is paramount in the enterprise. It's not just about performance and price. Replacing prematurely failed SSDs comes at a significant cost - both materially and operationally". FlashRAID aims to alleviate that concern by meeting enterprise class reliability standards with its excellent performance.