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Fusion-io gets shedloads of cash

by on08 April 2009

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Nothing can stop its expansion


The outfit
which has turned out some of the fastest SSD drives on the market has just got a huge injection of cash from investors.

Fusion-io, which hires dancing queen Steve Wozniak as its chief scientist has signed a deal with investors that has given it $47.6 million. Fusion-io is already a big player for mission-critical applications as it peddles its gear to some of the more wealthy punters. The cash will mean that it could use the cash to push for market dominance.

The cash came from a group of investors led by global venture capital firm Lightspeed Venture Partners and includes NEA, Dell and Sumitomo. Scott Sandell, general partner at NEA, said that in over a year, IO had demonstrated through its ground-breaking product offerings that it has the potential to change the way enterprise organisations think about storage.

OK we can't quite see how this is possible, as few people wake up in the morning and think wonderful things about storage, but the cash will help Fusion-io to build on its momentum and keep bringing out interesting products. IO wants to use the cash to significantly increase production capabilities to meet the rapidly growing demand, the outfit says.

One of the things it wants in the shops is the ioSAN, which is a PCI Express-based product that extends the power of Fusion-io’s solid-state technology across the network.  Apparently this will be in the shops by summer.

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