NVMdurance wins new funding at 2014 Flash Summit
- 05 August, 2014 09:26
Irish flash optimisation company, NVMdurance, has won new funding just a year after winning the Most Innovative Technology at the Flash Memory Summit 2013.
The company's existing investors, New Venture Partners and NDRC, have been joined by ACT Venture Capital and Enterprise Ireland in an $800,000 funding round.
The announcement was made at Flash Summit 2014, Santa Clara.
The funding follows the announcement of NAND flash endurance gains.
NVMdurance software is now proven to make Solid State Disks last more than 20 times longer by extending the endurance of the flash memory on 1x nm chips, according to a company statement.
At Flash Summit 2013 NVMdurance caused a stir by demonstrating on 3x nm NAND flash that it could achieve a tenfold endurance gain by optimising parameter values alone.
Now the company has proven that the gain from the use of various other techniques (Error Correction Code) is multiplicative of the gain from NVMdurance’ software and so it is now at least a twentyfold gain – even on the latest generation of devices, according to a company statement.
New Venture Partners LLC, venture capitalist, Steve Socolof, said he was excited by the progress that NVMdurance had made and was delighted to be following the firm's money in this latest round of funding.
“NAND flash is the fastest-growing product in the history of the semiconductor market," he said.
"The market in 2014 is expected to be over $28 billion.”
NVMdurance receives additional investment from existing and new investors
NVMdurance chief executive, Pearse Coyle, said the investment would support the commercial roll-out of the company's technology.
“Using NVMdurance software, the life of the flash is extended by at least 20 times with no impact on manufacturing process or architecture," he said.
"The endurance improvements we have recently achieved have put us at the head of the pack globally and we are very pleased with the deployments we are now working on.”