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News >> Technology >>
Aloke Guha's Copan garners $25M in venture funding
By siliconindia staff writer
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Wednesday, 01 September 2004, 19:30 IST
LONGMONT: Aloke Guha co-founded Copan Systems on Tuesday announced it has secured $25 million in Series B venture funding.
The provider of long-term, disk-based data storage said the round was led by Pequot Ventures, and included new investor Pinnacle Ventures and existing investors Austin Ventures and Globespan Capital.
In a press release, Copan Systems CEO Dave Davenport called Pequot's participation an "exciting validation" of his company's vision to replace tape storage in archive, backup-recovery and scientific research applications.
He said the funds will be used to scale the company, drive new product innovation and to further expand its sales and marketing organization.
The investment raises Copan Systems' total venture funding to $39 million.