Mumbai: US-based data storage company Minio Inc. said on Wednesday that it has raised $3.3 million in an early stage (seed) round of funding led by General Catalyst Partners and Nexus Ventures.
Jerry Yang’s AME Cloud Ventures, Index Ventures, Mark Leslie, Brian Stevens, Ben Golub, Lanham Napier and Andrew Feldman also participated in the seed financing.
The company that was founded by Anand Babu Periasamy, Frederick Kautz, Garima Kapoor and Harshavardhana is looking to use the funds to develop technology and software. Minio enables application developers to build their own cloud storage.
“Minio uniquely understands open source community building, storage and the needs of application developers,” said Deepak Jeevankumar, principal with General Catalyst Partners.
The public and private cloud storage market is estimated to grow from $13.57 billion in 2014 to $56.57 billion in 2019 at a compound annual growth rate (CAGR) of 33.1% according to a recent research study by MarketsAndMarkets, a market research firm.
