GPU-influenced storage controller startup Nyriad has pulled in $28 million in new funding from existing investors.
Nyriad’s startup idea was to have a combined GPU plus CPU controller to cope with tremendously high IO bandwidth. It did not go well. Its Nsulate technology was inspired by a proposed New Zealand Square Kilometre Array astronomy research effort which came to naught. The startup saw its founders ousted and a new CEO appointed by the investor-led board in September. The global HQ was relocated to the USA as well.
Guy Haddleton, Nyriad chairman of the board and lead investor, issued a new funding announcement statement: “Nyriad will deliver a breakthrough data storage solution. Equally important, the company’s vision is backed up by a seasoned executive leadership team, exceptional engineering talent, and a strategy that focuses on delivering business value for customers. That this round of funding is coming almost entirely from existing investors is a strong statement in our conﬁdence in Nyriad’s ability to execute and succeed in the marketplace.”
CEO Herb Hunt said: ”We’re reimagining storage with an architecture that delivers an entirely new way to control and manage storage devices at scale. This new round of funding ensures that solutions based on our new architecture will be available to customers early in 2022.”
Nyriad says its technology “architecture combines the power of GPUs and CPUs to deliver an unprecedented combination of performance, resilience, and efﬁciency, enabling massive amounts of data and multiple data types to be managed in a single storage system that is simple to deploy, operate, scale, and maintain”.
Hunt spent 32 years at IBM, finishing up as a VP. Then he went to Siebel Systems for four years as a CTO and then SVP for Strategy, followed by four years as an EVP at a private equity company, the Symphony Technology Group. This group has investments in RSA Security, McAfee and FireEye amongst others. He then founded and spent nine years as a managing principal at Transformation Services, helping client businesses develop their technologies, business and go-to-market structures.
It looks as if Hunt has an enterprise IT background followed up with a period spotting value in unwanted or troubled companies and helping build them up to realise that value. From his CEO role at Nyriad he says: “Storage solutions must empower businesses to grow, adapt, and stay competitive in a data-driven world. Nyriad is on a fast track to provide businesses with these breakthrough capabilities.”
We are looking at a Nyriad array which will have massive amounts of data and multiple data types, and use persistent memory. This is the world of VAST Data, StorONE, Pavilion Data and others. These companies are shipping product and Nyriad has to catch them up and produce something that will make customers sit up and take notice. It’s a big ask and $28 million says the investors think Nyriad’s answer to that request will be a good one. Otherwise it’s throwing good money after bad.