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Avaneidi secures €8M to advance storage tech and data security

Dr Rino Micheloni, CEO of Avaneidi. Picture credits; Avaneidi

Milan–based Avaneidi, an innovative Italian startup specialising in secure enterprise storage systems, has raised €8Min a Series A funding round led by United Ventures. This investment highlights a shared commitment to advancing solid-state storage technologies, enhancing data security, and promoting a sustainable digital transition.

Revolutionising data storage with AI and sustainability

Avaneidi develops comprehensive enterprise storage systems based on a rigorous 360° multi-level “security by design” approach, enabling an unprecedented degree of cybersecurity, protection, and data reliability for enterprise-grade applications. Their technology advancements not only boost performance and security but also significantly reduce energy consumption, thereby increasing the operational efficiency of electronic devices and data centres and addressing key sustainable development goals such as clean energy and sustainable industry innovation.

Dr Rino Micheloni, CEO of Avaneidi, elaborated on the company’s mission: “Our mission at Avaneidi is to pave the way for more secure, efficient, and sustainable data storage solutions. This funding will keep us at the forefront of the market, enabling us to accelerate the development of our enterprise ESSDs and all-inclusive storage appliances. Unlike off-the-shelf products, our solutions address cybersecurity and data governance issues by leveraging a tight hardware-software co-design while offering extensive customisation options.”

About the founder

Dr Rino Micheloni, founder and CEO, is a seasoned expert with over three decades in the semiconductor industry. He has led the development of numerous storage solutions and innovations. Supported by a team that combines storage industry veterans with brilliant young engineers, Micheloni’s leadership is set to transform enterprise storage technology through the integration of innovative hardware, firmware, and a proprietary Operating System.

Strategic focus and market potential

Avaneidi’s Enterprise Solid State Drives (ESSDs) use tailor-made chips and advanced algorithms, providing a bespoke solution optimised for performance and cybersecurity applications. Designed for on-premises data centres, their storage appliances offer a cost-effective, highly efficient alternative to traditional storage solutions, featuring extended drive lifetimes, improved security, and significant energy savings.

Massimiliano Magrini, managing partner at United Ventures, commented: “United Ventures invests in technologies that have a tangible positive impact. Avaneidi’s vision and mission to enable organisations to make better and more sustainable storage decisions, focusing on governance and data security, align with our investment philosophy. By channelling resources into AI infrastructure like Avaneidi’s, we aim to facilitate the development of technologies that will redefine industries and transform tomorrow’s society.”

Meeting the growing demand for AI infrastructure

The AI infrastructure market is experiencing rapid growth, with projections indicating an increase from $25.8Bn in 2022 to $195Bn by 2027, reflecting a compound annual growth rate (CAGR) of 50%. This surge is driven by advancements in AI computing, which is expected to escalate from $15.8Bn in 2022 to $165Bn in 2027, achieving a 60% CAGR.

Avaneidi is uniquely positioned to meet the increasing demand for secure, efficient, and sustainable data storage solutions, particularly for organisations and industries sensitive to data governance and security, such as finance, defence, automotive, and healthcare. By prioritising data integrity and protection, Avaneidi empowers these industries to better leverage AI technology safely and effectively when it comes to storage solutions.

Future plans and global expansion

With the new funding, Avaneidi plans to enhance its technology further and expand its global presence across North America, Europe, and Asia. The company’s innovative approach has already attracted the attention of major industry players, with negotiations and preliminary agreements in place to validate and expand the market reach of its products.

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