Arkologic Secures US $6 Million Financing
Arkologic Holdings Limited today announced the closing of its Series A financing.
Taipei-based Landtek Corporation led the investment round, which was joined by several of Arkologic’s seed investors. Arkologic is a manufacturer of high performance, low power consumption enterprise data storage appliances.
“We are pleased to launch this exciting new company,” said Douglas Glen, Chairman of Arkologic. “We have a great team, game-changing technology, and a timely ‘greentech’ product line.”
“We have attracted a very savvy group of investors,” said Roger Durn, CEO of Arkologic. “They appreciate that there is a sea change taking place not only in data storage, but in the IT domain as a whole.”
Arkologic was founded in early 2010 to develop a new generation of data storage products based on Multi-Level Cell Flash chips (MLC Flash). Compared with conventional hard drive based storage appliances, Arkologic’s MLC Flash devices offer superior performance, superior reliability, and one tenth the power consumption, all in a higher density package that occupies less than one tenth the space of traditional storage. The company expects first commercial shipments in early Q1-2012. Pricing is expected to be competitive with hard drive based appliances, and well below that of competitive solid state storage appliances.
Arkologic’s engineering team is led by CTO Keith Son, with 20 years of storage industry experience at NetApp, nCube, Silicon Graphics, DataLane and PowerFile. “Arkologic has developed and patented a unique way of combining the cost-effectiveness of MLC Flash with extremely high performance and superior reliability,” said Son. “And because MLC Flash is mass produced for mobile phones, music players, and tablet computers, we’re able to apply consumer electronics costing to products with high end enterprise performance and specifications.”
Arkologic bases its senior management and sales operations at Hong Kong’s Science Park, with engineering operations in California’s Silicon Valley. The company was incubated at M-Lab in Hong Kong, a innovation laboratory operated under the auspices of the Hong Kong Polytechnic University.
Landtek Corporation is a Taiwan-based private equity fund that makes early stage investments in innovative technology companies, with a particular focus on the IT sector.
