03.18.2009 04:05 PM
Edgeware Opens U.S. Office, Offers Financing
Edgeware, a Stockholm, Sweden-based server systems provider has announced the opening of its U.S. headquarters operation in San Jose, Calif., and also the closing of a deal for securing $8 million in funding from a new investor.
The company, which specializes in Flash memory-based server technology, has established to U.S. base of operations to further increase its North American footprint. The U.S. subsidiary, Edgeware, Inc., is being headed up by David Appleman, a former Motorola senior executive with more than 20 years of experience in executive management of technology companies.
"Appleman brings massive experience to Edgeware as he already knows our space and most of our current and future customers," said Joachim Roos, CEO and founder of Edgeware. "With him, we are up and running and can shift our U.S. efforts into high gear to take advantage of the significant growth potential among service providers for next-generation video services."
In a separate announcement, Edgeware acknowledged that it had secures $ 8 million in financing of its operations led by a new investor, Micron Technology in a series B funding initiative. That company joins Edgeware’s Series A backers, Amadeus Capital Partners and Creandum Advisor.
Edgeware said the new influx of working capital will be used to accelerate the company’s presence in the global market, and in particular, North America.
"We were attracted by Edgeware’s novel use of NAND flash memory as the sole storage in their demanding carrier applications, completely eliminating the use of rotating media," said Ian Blasch, managing director of Micron Ventures, the venture arm of Micron Technology. "Rather than simply using off-the-shelf solid state disks or SSDs, they have developed a unique architecture around flash memory and that gives them a number of compelling advantages--performance being one of them."
Edgeware’s products are primarily used for Web-based television delivery and video-on-demand telco and cable applications.