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Innovation & Startups

Keep showing us the money--Avere, ASSET, Ciespace and PSC rake in $46.1M

Good news in funding for the region for four: Avere, Asset, Ciespace and the Pittsburgh Computer Center.

Avere Systems picked up some additional funds this month, a windfall of $17 million that will fuel the production and expansion of its "game changing" network-attached solution (NAS) that will accelerate the performance and reduce the costs of data storage.

The Series B round was led by a new investor, Tenaya Capital of Menlo Park, Calif. and Boston, Mass, along with Menlo Ventures and Norwest Venture Partners. The company has grown to 40 employees.

"While we were not actively looking for additional funding in the company, we jumped at the opportunity to bring on a partner like Tenaya Capital," said Ron Bianchini, co-founder and CEO of Avere Systems in a statement. "We're very pleased that we can continue to expand our efforts to introduce dynamic tiering to enterprise storage customers."

In other funding news, Pittsburgh-based ASSET Inc. has received $22.3 million in federal funds to improve STEM education and learning across the state. The non-profit was among 49 school districts, universities and non-profits to be selected for the grant for science, technology, engineering and mathematics teaching.

Carnegie Mellon startup Ciespace Corp. has raised $4 million with the help of a Chicago firm, ARCH Venture Partners, a group that funds university and government research, and University of Tokyo-Edge Capital. Founded in 2004 by Dr. Kenji Shimada, director of the Computer-Integrated Engineering Lab at Carnegie Mellon, Ciespace, with 10 employees, will continue development of its software technology in Pittsburgh.

The National Science Foundation (NSF) awarded the Pittsburgh Supercomputer Center $2.8 million toward the purchase of the world's largest coherent shared-memory computing system. PSC will integrate the system into the cyberinfrastructure of the NSF, giving scientists and engineers across the country a major tool for research.

Writer: Deb Smit
Source: Avere Systems, ASSET Inc, Ciespace and PSC

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