Software-defined storage (SDS) startup Hedvig has closed $21.5 million in a Series C round of funding, bringing the total amount raised by the Santa Clara, California-based startup to $52 million.
Investors in the round include Singapore-based EDBI and Hewlett Packard Enterprise’s (HPE) VC arm Hewlett Packard Pathfinder, Atlantic Bridge Ventures, Oman Technology Fund, True Ventures, and Vertex Ventures.
Launched in 2015, Hedvig provides SDS for enterprises building cloud environments through its Hedvig Distributed Storage Platform solution.
“All sectors of enterprise IT are being hit by new demands from the massive wave of emerging digital businesses. It’s a wake-up call for the storage industry and a signal that a flexible, simple software-defined storage solution is needed for primary and secondary storage in the era of cloud,” said Avinash Lakshman, founder and CEO of Hedvig.
The latest funding will be used by the startup for expansion into the Asia-Pacific region, with Singapore being the gateway.
“As cloud adoption gains traction in Asia, companies seek new storage solutions that could offer cloud-like agility, scalability, and cost-efficiency to better manage their voluminous data,” said Swee Yeok Chu, CEO and president of EDBI. “Singapore’s leading data hub position will be an ideal base for Hedvig to target the Asian market with EDBI’s support.”
The funding will also be used by Hedvig for product development as well as for hiring engineering and sales talent.
With Hewlett Packard Pathfinder’s investment, Milan Shetti, CTO of the Data Center Infrastructure Group at HPE, will also serve as a technical adviser to Hedvig.
Moving forward, Lakshman said the startup will build on its early traction in financial services, service provider, manufacturing, energy, and retail markets by continuing to innovate in both cloud and backup capabilities.
Hedvig’s customers include BNP Paribas, DGC, LKAB, and Mazzetti.
