Investors in GigaIO
Founded in 2012, the hardware startup company has attracted significant interest from investors. Key investors in the GigaIO Series B funding round include Four Palms Ventures, Impact Venture Capital, Lagomaj Capital, Mark IV Capital, and SK Hynix. In total, investors have contributed $19.2 million in funding to the company.
“We are excited to lead this funding round, including a co-investment from SK Hynix, and believe that GigaIO’s game-changing technology and team will continue to revolutionize the way that organizations manage data,” said Jack Crawford, founding general partner at Impact Venture Capital. Impact Venture Capital has invested in several successful startup companies, including Pondera, Revionics, and Socati. In March 2021, Yooma Wellness (stock ticker CSE:YOOM) acquired Socati for $25 million, one of several successful exits for Impact Venture Capital.
Investor interest in the business includes taking multiple board seats. Several investors are on the company board of directors, including Heejin Chung (SK Hynix), Jack Crawford Jr. (Impact Venture Capital), and Michael Beaudoin II (Mark IV Capital).
Data Center Products
The startup business offers several hardware and software products designed to increase the speed and performance of IT infrastructure. The GigaIO FabreX network switch offers speeds up to 512 Gbps. To put that figure in context, the maximum speed for Wi-Fi 6 is 9.6 Gbps. The hardware startup has also created the GigaCell, which can connect more servers to increase storage or computing speed.
While the business is focused on hardware products, there are also related software products available. The company’s composition software makes it easier to manage rack resources in a data center. Finally, GigaIO has developed host and switch software so that business users can better control their servers.
To sell its infrastructure products, the hardware company has developed relationships with other companies. Current channel partners include Applied DataSystems, International Computer Concepts, SysGen, Technical System Integrators, and World Wide Technology.
Data Center Business Opportunities
Developing hardware and software for the data center market gives GigaIO access to a growing market. In the United States (US) alone, the data center market is estimated to be worth $8.4 billion according to a Research and Market's estimate. By 2026, the US data center business is estimated to grow to $13.9 billion. Due to the pandemic, data center growth has slowed because of construction delays. Outside of the US, there are even larger data center markets. The data center market in China is projected to grow to $32 billion by 2027, according to Research and Market.
The startup company has faced product development challenges during the pandemic. “Due to the pandemic, hardware testing has been difficult. Since the start of the year, however, we’ve been able to get equipment into facilities, and the results have been fantastic for us," commented Alan Benjamin, president and CEO of GigaIO.
The startup company offers hardware products for data centers. GigaIO technology makes it possible to move data in and out of storage more quickly in data centers.
About the Author
Bruce Harpham is an author and marketing consultant based in Canada. His first book, "Project Managers At Work," shared real-world success lessons from NASA, Google, and other organizations. His articles have been published in CIO.com, InfoWorld, Canadian Business, and other organizations. Visit BruceHarpham.com for articles, interviews with tech leaders, and updates on future books.