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11:11 Systems: Empowering enterprises to modernize, protect, and manage their IT assets and data

CIO

We provide enterprises with one platform they can rely on to holistically address their IT needs today and in the future and augment it with an extensive portfolio of managed services – all available through a single pane of glass. They also know that the attack surface is increasing and that they need help protecting core systems.

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Vast Data lands $118M to grow its data storage platform for AI workloads

TechCrunch

The New York-based startup, which provides a scale-out, unstructured data storage solution designed to eliminate tiered storage (i.e. setups that move data between high- and low-cost storage hardware), today announced that it secured $118 million in a Series E round led by […] © 2023 TechCrunch.

Storage 265
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The Open Cloud Era: The Quiet Tech Revolution Coming To The Enterprise

Crunchbase News

They are seeking an open cloud: The freedom to choose storage from one provider, compute from another and specialized AI services from a third, all working together seamlessly without punitive fees. The average egress fee is 9 cents per gigabyte transferred from storage, regardless of use case.

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AI chip startup Axelera lands $27M in capital to commercialize its hardware

TechCrunch

Unlike conventional chips, theirs was destined for devices at the edge, particularly those running AI workloads, because Del Maffeo and the rest of the team perceived that most offline, at-the-edge computing hardware was inefficient and expensive. In addition, the Netherland Enterprise Agency awarded Axelera AI a $6.7 billion by 2025.

Hardware 240
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Gartner projects major IT spending increases for 2025

CIO

While AI projects will continue beyond 2025, many organizations’ software spending will be driven more by other enterprise needs like CRM and cloud computing, Lovelock says. The rapid accumulation of data requires more sophisticated data management and analytics solutions, driving up costs in storage and processing,” he says.

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EnCharge AI emerges from stealth with $21.7M to develop AI accelerator hardware

TechCrunch

EnCharge AI , a company building hardware to accelerate AI processing at the edge , today emerged from stealth with $21.7 Speaking to TechCrunch via email, co-founder and CEO Naveen Verma said that the proceeds will be put toward hardware and software development as well as supporting new customer engagements.

Hardware 216
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Cloud storage startup Wasabi raises $250M to reach unicorn status

TechCrunch

Two at the forefront are David Friend and Jeff Flowers, who co-founded Wasabi, a cloud startup offering services competitive with Amazon’s Simple Storage Service (S3). Wasabi, which doesn’t charge fees for egress or API requests, claims its storage fees work out to one-fifth of the cost of Amazon S3’s.

Storage 224