Skip to main content

Deal Alert: Nexus Ventures participates in $8.5 M 2nd round funding of open source storage firm Gluster

Edited Excerpts from the Press Release:

Milpitas, Calif. – November 9, 2010 – Gluster, the leading provider of open source scale-out storage solutions, today announced it has closed an $8.5 million Series B round of funding led by Index Ventures with participation from the previous investor, Nexus Venture Partners. Gluster has been experiencing dramatic growth worldwide in sales, partnerships, and community adoption, driven by the move to cloud based architectures, the explosion in unstructured data, and the increasing virtualization of the data center. With this new investment round, Gluster will expand its sales, marketing and support teams and allocate additional resources to partner development.

Multiple trends are driving Gluster’s growth across a wide-range of industry segments including healthcare, legal, media and hosting providers: Unstructured data is growing by 60 percent per year, creating a need for vastly different storage economics; over 20 percent of all compute workloads are now virtualized, creating a need for vastly different shared storage architectures; and, the cloud is expected to account for 14 percent of all IT spending by 2014, creating a need for storage that works both on-premise and in the cloud.

Gluster addresses these needs with a scale-out, open source, software-only storage solution that enables enterprises to manage petabytes of file data in a single volume across multiple storage servers. Gluster can be deployed using both on-premise commodity hardware and public cloud storage, delivering excellent performance across a wide range of workloads, including those found in highly virtualized compute environments. As a result, Gluster gives enterprises the ability to treat physical storage as a virtualized, standardized, scale-on-demand pool in much the same way that they treat computing resources today, radically improving storage economics in the process.

"As the explosion in unstructured data continues, Gluster has demonstrated a unique capability to address challenges associated with managing massive amounts of data,” said Naren Gupta, co-founder of Nexus Venture Partners and member of the Gluster board of directors. “Storage is emerging as the Achilles heel for virtualizing the data center and the move to the cloud. Gluster provides a hardware-agnostic, easily scalable storage solution that eliminates this road block and helps companies take advantage of the cloud’s true benefits. We are very excited to partner with the Gluster team to help create the next standard in scale-out storage.”

“We are gratified by the level of interest Gluster has received from investors, customers, and the community, and we are thrilled by the opportunity that this funding round gives us to accelerate growth,” said Ben Golub, president and CEO at Gluster.

About Nexus Venture Partners

Nexus Venture Partners (www.nexusvp.com) is India's leading venture capital fund, founded by successful entrepreneurs in India and Silicon Valley. It has $320m under management and an active portfolio of over 20 companies across technology, media, consumer, business services, energy and agribusiness sectors. The Nexus team plays an active role in helping entrepreneurs and management teams build market leading businesses. Some of the companies that Nexus has invested in include Komli (Internet advertisement network), Suminter (Organic farming), Dlight (Solar Lighting), DimDim (Open Source Web Conferencing), Mapmyindia (Digital Navigation), Deccan Pharma (Neutraceuticals), Gluster (Open source storage), WhatsonIndia (TV Guide), Cloud.com (Cloud infrastructure), Pubmatic (Publisher Ad revenue optimization), Prana (Animation services) and Netmagic (Internet Infrastructure). Investors in Nexus include leading university endowments, foundations and sovereign funds.

Popular posts from this blog

PE-VC investments decline 8% to $6.2 B in Q1'24

Press Release: Private Equity - Venture Capital (PE-VC) firms invested over $6.2 Billion (across 205 deals) in Indian companies during the first three months of 2024, shows data from  Venture Intelligence , a research service focused on private company financials, transactions, and their valuations. (Note: These figures include Venture Capital type investments, but exclude PE investments in Real Estate). The investment amount represents a 8% fall over the $6.7 Billion (across 242 deals) invested in the same period during 2023 and also down by 6% when compared to the immediate previous quarter (which witnessed $6.6 Billion being invested across 200 deals). Deal volumes in Q1'24 also declined 15% compared to Q1'23 and were up by 3% compared to the immediate previous quarter.  Q1’24 witnessed 8 mega deals ($100 M+ rounds) worth $3.5 Billion, compared to 17 such investments (worth $3.6 Billion) in Q1’23 and 15 such deals (worth $4.1 Billion) in the immediate previous quarter.  Th

PE-VC investments in Q2'23 decline 33% to $9.9 Billion

Private Equity-Venture Capital (PE-VC) investments in India during the quarter ended June 2023 (Q2'23), at $9.85 Billion across 182 deals, registered a 33% decrease compared to the same period in 2022 (which saw $14.6 Billion being invested across 371 deals). The investment amount however rose 74% compared to the immediate previous quarter (which saw $5.7 Billion being invested across 181 deals), shows data from  Venture Intelligence , a research service focused on private company financials, transactions, and their valuations. The PE-VC investment figures for the first 6 months of 2023 - at $15.5 Billion (across 363 deals) - was 50% lower compared to the same period in 2022 (which saw $31 Billion being invested across 800 deals). Q2’23 witnessed 19 mega deals ($100 M+

Chiratae, Speciale and Stride Ventures win APEX'24 Venture Capital Awards

Chiratae Ventures, Speciale Invest and Stride Ventures were awarded as among the leading Venture Capital investors in India for 2023 as part of Venture Intelligence APEX‘24 Private Equity & Venture Capital awards event in Mumbai.  The Venture Intelligence “Awards for Private Equity Excellence” (APEX) is dedicated to celebrating the best that the Indian Private Equity & Venture Capital industry has to offer. The APEX Awardees are selected based on both Self Nomination by the participating PE-VC firms and "crowd sourced" voting from the Limited Partner, PE-VC and advisory communities. (The main criteria are Return Track Record, New Fund Raises & Follow-on Funding Rounds for Portfolio Companies) VC Investor of the Year Chiratae Ventures received the Venture Capital Investor of the Year 2023 Award on the back of 10 part exits totaling $178 million via Secondary Sales during the year. Its exits included those from retail unicorn Lenskart, SaaS Startup Pixis and baby pr

Blackstone, MO Alts and InvAscent win APEX'24 Private Equity Awards

Press Release Blackstone, MO Alternates (formerly Motilal Oswal PE) and InvAscent were awarded as among the leading Private Equity and Growth Capital investors in India for 2023 as part of Venture Intelligence APEX‘24 Private Equity & Venture Capital awards event in Mumbai.  The Venture Intelligence “Awards for Private Equity Excellence” (APEX) is dedicated to celebrating the best that the Indian Private Equity & Venture Capital industry has to offer. The APEX Awardees are selected based on both Self Nomination by the participating PE-VC firms and "crowd sourced" voting from the Limited Partner, PE-VC and advisory communities. (The main criteria are Return Track Record, New Fund Raises & Follow-on Funding Rounds for Portfolio Companies) PE Investor of the Year Blackstone received the Private Equity Investor of the Year 2023 Award on the back of strong complete exits during the year: from Sona Comstar and IBS Software. Ganesh Mani and Amit Dalmia, Senior Managing D

Avendus tops League Table for Transaction Advisors to PE deals in Q1'23

Aeka Advisors and Ambit claim the No.2 & 3 slot Avendus topped the Venture Intelligence League Table for Transaction Advisor to Private Equity Transactions for Q1 2023 advising 5 deals worth $808 million. Aeka Advisors stood second having advised 3 deals worth $228 million. Ambit followed with 4 deals worth $160 million. Ernst & Young ($114 million across 4 deals) and o3 Capital ($80 million across 2 deals) completed the top five for Q1 2023. Avendus acted as advisor to ADIA’s $500 million investment in omnichannel eyewear retailer Lenskart . Aeka Advisors acted as advisor to Kreditbee’s $160 million fundraise from Advent International, Mitsubishi UFJ Financial Group (MUFG) and existing investors. Ambit advised the $104 million fundraise of Freshtohome from Mount Judi Ventures, Iron Pillar, Amazon and others. The  Venture Intelligence League Tables , the first such initiative exclusively tracking transactions involving India-based companies, are based on the value of PE