Flash memory storage company SanDisk Corporation has launched a new venture capital initiative. The new venture initiative, SanDisk Ventures, has already made its first investment in data storage company Whiptail.
The corporate venturing unit will manage a $75m fund, with specific areas targeted for investment including next-generation solid-state memory technology, enterprise storage, big data storage, and cloud-based computing technologies.
“Flash-based solutions continue to gain momentum, with exciting growth possibilities ranging from enterprise storage to mobile consumer products,” said Sumit Sadana, executive vice president and chief strategy officer, at the Silicon Valley-based S&P 500 and Fortune 500 company. “Our investments in innovative startups and new technologies can help accelerate market growth, provide deeper insight into potential disruptive uses of flash and promote closer ties to key industry players, particularly in the fast-evolving segment of enterprise storage solutions.”
SanDisk was a strategic investor in Whiptail’s recent $31m series C round of funding. Other investors included Ignition Partners, RRE Ventures and Spring Mountain Capital
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