Data processing chip startup Pliops raises $100 million
Data Center Processor Startup Pliops Ltd. said today that it has closed a $100 million funding round to help it take on giants such as Nvidia Corp. and Oracle Corp. with the aim of making the processing of information more efficient.
Today’s Series D round was led by Koch Disruptive Technologies, with participation from SK Hynix, Lip-Bu Tan, President of Walden International and State of Mind Ventures Momentum, and existing investors. This brings the total amount Pliops has raised to over $200 million since its launch in 2017.
Pliops has attracted a lot of money from its backers because it is focused on solving a big problem with big data. Its processor technology is designed to make data centers faster and more efficient. More specifically, his Extreme Data Processor helps simplify how data is processed and how flash storage is managed.
This helps it overcome storage inefficiencies and accelerate performance while reducing overall infrastructure costs for data-intensive applications. In other words, Pliops helps companies make the most of their growing data volumes and storage infrastructure, which translates into lower costs and lower energy consumption.
Pliops says its XDP chips are designed to improve the performance of databases and other applications that typically run in flash memory. They offer disk failure protection for SSDs as well as inline compression, which is a technique that reduces data by finding identical sequences and discarding those that follow the original. This in turn helps it reduce disk space and increase capacity, by mapping variable size objects to reduce the amount of wasted storage space.
“The ability to monetize data faster and get much more while paying much less is every organization’s top priority, especially in times of market volatility,” said Pliops CEO Uri Beitler. “Our transformative product offers this exact unique capability, making it imminent that Pliops XDP will be the cornerstone of any modern data center.”
It’s a bold statement from the CEO considering some of the rivals the company is up against in the data center. It’s not the first company to offer a processor specifically designed for data analysis. Nvidia is perhaps its best-known rival, having launched its BlueField-3 data processing units late last year.
In addition to this, Marvell Technology Inc. has developed its Octeon chips, and Oracle’s SPARC M7 chip comes with a data analysis-focused coprocessor that has a set of specialized instructions for tasks. data transformation. There are also startups like Speedata to worry about.
However, there may well be room for multiple players in the data processing space. Pliops cites an International Data Corp survey. which revealed that organizations only collect 56% of their company’s available data, and of that 56%, they use only 57% on average. One of the reasons for this data underutilization is that these workloads require a lot of compute and storage resources, and these can be costly for businesses to maintain.
“Accessing and using your data effectively is critical to business success, especially in a world of exponential data growth and storage requirements,” said Eli Groner, CEO of Koch Disruptive Technologies. . “Pliops brings innovative solutions to this huge, industry-wide challenge that address real problems.”
Pliops said he has made great progress. Although he didn’t name any, he said he’s secured customers in several market segments, including some global cloud service providers, enterprises and high-performance computing organizations.
The company will use funding from today’s round to develop its chip hardware and software in line with its roadmap, while aggressively marketing its vision to customers and partners. At the same time, the company said it will streamline its global operations teams taking into account the changing business landscape.