Israeli storage solution startup Infinidat has raised $150 million in funding. The investment was led by VC firm TPG Growth along with participation from angel investor Zohar Gilon.
The company specialises in developing cost efficient, high powered storage solutions for businesses. Along with the funding, Infinidat also announced their new InfiniBox storage system, which will be the first to “offer unified block, file, object and mainframe storage.” as reported by Geektime.
The newly acquired funding raised the total sum of investments received by Infinidat to $230 million, also raising the company’s valuation to $1.2 billion.
The company was founded in 2011 by Moshe Yanai, who has formerly worked with IBM and EMC’s Symmetrix. Infinidat is rumored to be heading for an exit via a future buyout by IBM or EMC.