Total amount raised
$126.3 Millions
Latest funding date
Location
MinIO has successfully raised funding through multiple rounds, with its latest being a Series B round. The company offers high-performance, S3-compatible object storage solutions designed for multi-cloud architectures.
Keep reading to explore the intricacies of MinIO's fundraising journey and the investors backing this innovative platform.
What Is MinIO?
MinIO, founded in 2014, is headquartered in Redwood City, California. The company specializes in high-performance, S3-compatible object storage solutions designed for multi-cloud architectures and AI applications.
MinIO was established by Anand Babu Periasamy, Frederick Kautz, Garima Kapoor, and Harshavardhana. Their software-defined, cloud-native, and 100% open-source platform supports a variety of workloads, including ML/AI, analytics, backup, and archival.
With a team of 11-50 employees, MinIO continues to innovate in the object storage space, offering products like AIStor to consolidate data on a single, private cloud namespace with high performance and cost efficiency.
How Much Funding Has MinIO Raised?
- Seed Round
- Amount Raised: $3.3M
- Date: June 2015
- Lead Investors: Garima Kapoor, General Catalyst, Nexus Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch their initial product offerings.
- Series A
- Amount Raised: $20M
- Date: September 2017
- Lead Investors: Dell Technologies Capital, General Catalyst, Nexus Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance their technology for better multi-cloud support.
- Series B
- Amount Raised: $103M
- Date: January 2022
- Lead Investors: Intel Capital
- Valuation at Round: $1 billion
- Motivation Behind the Round: To expand operations and accelerate multi-cloud storage solutions.
Total Amount Raised: $126.3M. Current Valuation: $1 billion.
Key Investors
- Intel Capital
- Details: Intel Capital is the global investment organization of Intel Corporation. It invests in innovative technology startups and companies worldwide.
- Investment Focus Areas: Artificial Intelligence, Cloud Computing, 5G, Autonomous Driving, Data Center
- Notable Investments: Cloudera, MongoDB, DocuSign
- Dell Technologies Capital
- Details: Dell Technologies Capital is the venture capital arm of Dell Technologies. It focuses on early to growth-stage investments in technology companies.
- Investment Focus Areas: Cloud Infrastructure, Security, Big Data, Internet of Things (IoT), Artificial Intelligence
- Notable Investments: Nutanix, Zscaler, Arista Networks
- General Catalyst
- Details: General Catalyst is a venture capital firm that invests in powerful, positive change that endures. It partners with founders from seed through growth stages.
- Investment Focus Areas: Consumer, Enterprise, Healthcare, Fintech, SaaS
- Notable Investments: Airbnb, Stripe, Snap
- Nexus Venture Partners
- Details: Nexus Venture Partners is a venture capital firm that invests in early and growth-stage companies across sectors in India and the US.
- Investment Focus Areas: Technology, Consumer, Healthcare, Financial Services, Enterprise
- Notable Investments: Postman, Druva, Delhivery
- Garima Kapoor
- Details: Garima Kapoor is one of the co-founders of MinIO. She has been instrumental in the company's growth and development.
- Investment Focus Areas: Cloud Storage, Open Source, Software
- Notable Investments: Not explicitly mentioned on the page.
What's Next for MinIO?
MinIO stands at the cusp of significant growth opportunities, driven by the increasing demand for multi-cloud and Kubernetes-native storage solutions. With over 1.2 million active deployments and a strong presence in public and private clouds, the company is well-positioned to expand its market share. The recent $103 million Series B funding will enable MinIO to enhance its product offerings and engineering capabilities, particularly in Bangalore, India.
Future fundraising opportunities appear promising, given the company's robust growth trajectory and the involvement of high-profile investors like Intel Capital and SoftBank Vision Fund 2. These funds could be pivotal in scaling operations and penetrating new markets across Asia and the Middle East. However, MinIO will need to navigate challenges such as intense competition from established cloud storage providers and the complexities of managing multi-cloud environments.
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