TEL AVIV U.S.-Israeli Reduxio Systems, a provider of storage and data management technology, said on Monday it has secured $22.5 million of funding in an investment round expected to total up to $32 million.
The round was led by London-based C5 Capital, an investment manager focused on cyber security, data analytics and cloud computing, and more than doubles the amount invested in Reduxio. The money will fund continued development and marketing of the company's software-based storage platform.
All previous investors, including Jerusalem Venture Partners, Carmel Ventures, Intel Capital (INTC.O) and Seagate Technology (STX.O) participated in this fundraising round.
(Reporting by Tova Cohen)