Gnodal Secures Funding From YFM Group To Scaleup Development Of Data Centre Technology
01.07.2008 00:06:00
Bristol-based Gnodal, which is developing a revolutionary technology for use in high performance data centres, has secured finance from the YFM Group managed South West Ventures Fund as part of a £1.1 million funding round. Adrian Beecroft and NESTA were co-investors in the round and a second closing saw the YFM Group managed Finance South West Growth Fund also investing in the company.
Gnodal, which is located in the SETSquared business incubator at Bristol University, has developed technology that gives an order of magnitude improvement in data centre performance and power efficiency.
With rapidly increasing volumes of information, data centres are growing in size and power consumption. Traditional technologies have become inefficient as data centres have increased in size.
At present, these problems principally affect the very largest users of high performance computing facilities, but are increasingly experienced in enterprise and Internet data centres. With the advent of virtualisation, web 2.0 and sophisticated corporate applications, this is becoming more of an issue.
The Gnodal solution, offering a unique combination of high performance, low cost and low power, enables the construction of even larger scale data centres and higher performance computing systems. The market research company Dell ‘Oro predicts that in 2011 Gnodal’s addressable market will be worth $4.8 billion.
Fred Homewood, CEO of Gnodal, said: “Our products will offer performance levels significantly exceeding those found today in large data centres. We will be offering a range of products to satisfy the smallest systems to the largest server clusters and storage arrays.”
Julian Dennard, Senior Investment Manager at YFM Group, said: "Gnodal has developed an innovative solution for a high growth market. Fred Homewood has put together a highly qualified and experienced team and we look forward to working with them."
ENDS
Client name: South West Ventures Fund
