A Bristol-based company which is developing a revolutionary technology for use in internet data centres, has secured £1.1m of finance.
Gnodal, which is located in the SETSquared business incubator at Bristol University, has gained backing from the YFM Group managed South West Ventures Fund and the Finance South West Growth Fund, as well as NESTA and a private investor.
The company is looking to take advantage of the growth in internet data centres and their increasing need for better performance, as Web 2.0 and virtualisation become the norm on the web.
Traditional technologies have become inefficient and data centres have grown in size and require higher performance and lower energy methods in order to compete, the company believes.
Gnodal feels there's considerable money to be made in the sector, pointing to research conducted by Dell ‘Oro which suggests that its addressable market will be worth £2.4bn by 2011.
Fred Homewood, chief executive officer of Gnodal, said: “Our products will offer performance levels significantly exceeding those found today in large data centres.
“We will be offering a range of products to satisfy the smallest systems to the largest server clusters and storage arrays.”
© Crimson Business Ltd. 2008