Bengaluru based cloud storage startup Minio has raised $20 million in a Series A funding led by Dell Technologies Capital, General Catalyst Partners and Nexus Venture Partners. Intel Capital, Yahoo co-founder Jerry Yang-led AME Cloud Ventures, and Steve Singh, CEO of software technology providing company Docker also participated in the funding round.
Minio will use the recently raised funding to improve their product availability product development along with their overall growth. Most of the part of the funding will go into improving their search engine aspect.
Minio is an open source that allows users to their unstructured data like health records, audio, video and images across several cloud storage solutions including the very popular, Amazon S3. Nearly all the websites and various other Internet-based applications are stored cloud servers maintain by Amazon, Microsoft and Google as well as their own on-premise servers. Minio solves the need of cloud storage solution that is compatible with other major services. Firms can even choose to store their data on multiple platforms. We are generating ever-increasing amounts of data each minute and companies need a one-stop solution that behaves in the same manner whether it is on the cloud or on some server located on their premises. Minio essentially bridges the gap between on-premise and cloud hosting services that extensively limit the cloud opportunities.
Minio was found by Periasamy along with Frederick Kautz, Garima Kapoor, and Harshavardhana in the year 2014. Anand Periasamy, co-founder and chief executive of Minio, had also founded another startup, Gluster which provided software-based storage solutions. It was later acquired by Red Hat, a leading software company that provides open source products to the enterprise community.
In June this year, the company received a seed funding of $3.3 million led by Nexus and General Catalyst. It was used by the company to build an open source storage platform and put forth a basic framework of their idea.