INCJ, Fidelity in $24m round for cloud storage provider
Innovation Network Corporation of Japan (INCJ and Fidelity Growth Partners have taken part in $24 million round for US-based Cloudian, a hybrid cloud storage solutions provider.
Existing investors including Intel Capital also participated.
Cloudian offers object storage software that allows enterprises to set up both public and private clouds atop the Amazon S3 storage service - an online file storage web service. It essentially means they can take advantage of public cloud infrastructure for bulk data storage while keeping more important data on-site. The company is headquarted the US and has offices in Tokyo and in Beijing.
The funding will allow Cloudian to extend its sales and marketing to reach potential overseas clients. INCJ will join Intel Capital on the board of directors.
"The rapid growth of unstructured data is transforming the data storage landscape," said Michael Tso, CEO and co-founder of Cloudian, in a statement. "With this funding, we will accelerate the deployment of our production-proven storage solutions and revolutionize the cost, scalability and availability models for storing unstructured data in the enterprise"
According to AVCJ Research, while this INCJ's sixth IT-related deal, it is the first time the group has made investment of this kind in a US-headquartered company. However, it is a backer of Silicon Valley-based Japanese venture firm World Innovation Lab (WiL), which launched a $300 million start-up fund earlier this year.
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