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Disaster recovery company Axxana Inc. has raised $5 million from the US arm of Japan's Sumitomo Corporation's Presidio Ventures and the company's current investors, Carmel Ventures, Gemini Israel Funds, and private investor Moshe Yanai, a global expert in data storage solutions.
Axxana CEO Eli Efrat and CTO Dr. Alex Winokur founded the company in 2005. It has raised $20 million to date, including in the current round. The company developed its data disaster recovery solution in collaboration with EMC Corporation on the basis of enterprise data recording technology. The technology functions like a black box, transmitting data in real time to external back-up sites at a lower cost than current systems on the market.
Efrat said, "It is important for Axxana to have a strong strategic partner in Japan in light of our growing number of customers worldwide. Sumitomo is one of Japan's two largest corporations, with $100 billion in annual revenue. This is a huge opportunity."
Sumitomo Principal Investment Dept. general manager Tsuyoshi Konda said, "As Japan is situated in an area of frequent natural disasters, customers there are particularly understanding of the need for reliable and cost-effective disaster recovery solutions. Especially following the latest tragic disasters in Japan, we believe Axxana's message of 100% data recovery over unlimited distance and at reasonable cost will prove to be very attractive to Japanese customers."
Presidio Ventures president & CEO Toshihiko Kuskabe added, "We chose to invest in Axxana and its DR solution as we see a growing need for cost-effective synchronous recovery over large distances. In particular, the clever solution that Axxana has developed demonstrates perfectly a key characteristic we seek when assessing the potential of a new technology investment: creative innovation based upon a strong understanding of the customer's needs."
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