Long-term data storage startup Vawlt announced this week that it closed a €2.15 million round of funding.
Founded in 2018, Vawlt facilitates solid, long-term data storage strategies that support cross-sector business agility.
Distributed Storage, Data-Centric Architecture and Improved Data Security are at the heart of Vawlt's solution.
Data is distributed in multiple clouds or on-premises nodes simultaneously, creating a supercloud that enables companies to take advantage of the best-of-breed multiple storage environments through a single pane of glass: easy to use, secure and resilient by default.
User data is always available, even if some clouds are down, if they lose or corrupt the data, and in case of a ransomware attack.
Only the data owner can access file contents, and all the data is encrypted at the client side. Data never goes through Vawlt's servers. It travels directly between the users' machines and the storage clouds.
According to Ricardo Mendes, CEO, Vawlt:
"We're thrilled with this news. It is a testament to our commitment to enhancing data protection and sovereignty, as well as business efficiency and independence. In the current world, this is increasingly of key importance.
This injection of capital will propel us into new markets and reinforce our support for channel partners. It will also fuel the continuous innovation of our product, enabling us to provide our customers with exactly what they need."
This round brings the company's total funding to €3 million.
The funding was led by Lince Capital and included Basinghall and Beta Capital as well as existing investors Armilar Venture Partners and Shilling VC, as well as two former Cisco and OVHcloud executives.
Vasco Pereira Coutinho, CEO of Lince Capital, shared:
"We are excited to announce our most recent investment in Vawlt.
In an era of increasing concerns with data security and privacy, Vawlt's highly skilled team materialised a decade of research into a leading product in the supercloud environment, positioning the company at the forefront of the future of cloud storage.
The latest evolution to Vawlt 3.0 brings an even more robust and scalable product, increasing distributors' and partners' value creation and providing us with an even more reliable and cost-efficient distributed cloud storage solution."
According to Andrew Irvine, Founding Partner of Basinghall:
"Our choice to invest in Vawlt is based on the team's extensive technical expertise, enabling the company to offer a secure, innovative, distributed supercloud storage solution.
Vawlt allows its users to efficiently migrate their data to or within a multi-cloud environment. It enables its customers to accelerate their digitisation, which aligns well with our investment thesis. We are excited to support their continued growth."
Vawlt will use the new funding to continue executing and expanding its product innovation strategy and expands its team.
Lead image: rc.xyz.
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