NEWS: Maker of Computational Storage Drives Closes $20M Series C Round. This Brings NGD Systems’ Total Fundraising to $45M To Date… –
An Irvine startup that developed computational storage drives has closed a $20 million Series C funding round.
NGD Systems announced the news in a press release issued today.
According to the release, the company will use the funds to accelerate the production and deployment of its NVMe CSD (computational storage drive).
NGD created the drive to use machine learning, a subset of AI, within the device where the data resides. This is known as edge computing.
MIG Capital led this latest round, with participation from Western Digital Capital Global, the strategic investment fund of Western Digital Corp; and other existing investors, including Orange Digital Ventures, Partech, BGV and Plug-N-Play.
This brings the company’s total financing to $45 million to date. See a recent article about NGD here.