Samsung Ventures Funds Advanced Storage Startup

(Electronic News Via Thomson Dialog NewsEdge) Advanced storage technology company SiliconSystems Inc. has garnered a Series C investment by Samsung Ventures.

The venture capital arm of the Korean consumer electronics giant said it invests in leading technology companies related to the business activities of the Samsung Group, including flagship company Samsung Electronics, SiliconSystems' primary supplier of storage components.

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SiliconSystems designs, manufactures, and markets its advanced storage technology exclusively to the Enterprise System OEM market.

The companies provided no further information regarding Samsung's Series C financing.

"Samsung invests in highly innovative market leaders and SiliconSystems is an outstanding performer by every metric," Bill Byun, investment principal at Samsung Ventures, said in a statement.

"Samsung's support for SiliconSystems going forward will be key to assuring our continuing growth," Michael Hajeck, SiliconSystems' CEO and co-founder, added in a statement.

Previous investors in SiliconSystems include SanDisk Corp. http://www.edn.com/article/CA429778.htmland venture capital firms Miramar Venture Partners, Rustic Canyon Partners, and Shepherd Ventures. SiliconSystems intends to use the Series C financing to expand R&D and global sales and marketing programs.

Copyright 2006 Reed Business Information. All Rights Reserved.


Related Tags: advanced storage, samsung ventures, Samsung, samsung, SiliconSystems, siliconsystems

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