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Launched by former associates of Cisco, Pensando closed its Series C funding worth $145 million.
FREMONT, CA: The edge computing startup, Pensando has exited the stealth mode recently, closing its Series C funding valued at $145 million. The startup founded by former Cisco engineers creates software and hardware technology to modify flexibility of cloud computing servers in the data centers and is recognized to be a competitor to Amazon web Service Nitro.
The Series C funding round was presided over by Hewlett Packard enterprise and Lightspeed Venture Partners to account for the total funding raised so far to be $278 Million. The Lightspeed Venture partner Barry Eggers and HPE chief technology officer Mark Potter are said to join Pensando's board of directors. The company's chairman is additionally one of the investors as a part of JC2 Ventures.
Pensando was launched in 2017 by a team of engineers who pioneered the development of many key technologies in Cisco and founded four startups that were later acquired by Cisco, as well as Insieme Networks. Included among them are Vipin Jain, currently the CTO and Prem Jain, the CEO.
The Pensando platform produces an extremely programmable software-defined cloud, compute, networking, storage, and security services regardless of wherever the data is located. It has developed an optimized data center chip to handle computing tasks concerning network management, security, and information storage. The chip is a component of the accelerator cards that may be connected to a server to dump functions from the machine’s central processor. The result is a 20 to 40 percent decrease in central processing unit utilization. According to Pensando, the move results in gains in the potency of the processing cycle.
Pensando claims that its edge computing platform performs multiple times, up to nine fold better than AWS Nitro when compared to the productivity and scale. The startup prepares edge computing infrastructure for data centers, equipping them to manage information from 5G, AI, and IoT applications. In stealth mode, the company expanded its client base, including HPE, Goldman Sachs, NetApp, and Equinix.
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