Investment Will Enable Operational Growth and Productization to Cloud Data Center and 5G Base Station Markets
Axiado Corporation, a Silicon Valley-based, AI-driven hardware security company has announced an initial investment as a part of closing its $20 million Series B funding. This round was led by a Series A investor Orbit Venture Partners (OVP), and supplemented by Founder of Infinera Dave Welch, New Enterprise Associates Chairman and Cofounder Dick Kramlich, and a group of individual investors.
“We are very pleased for our investors’ confidence in our vision, technology, team, and customer traction,” said Gopi Sirineni, Chief Executive Officer of Axiado. “This funding will enable us to grow our operations and productize our technology with partners as we are advancing our products to the cloud data center, 5G base station, network security, and IoT markets.”
Axiado’s leading-edge technology platform redefines digital security with a ground-up-built hardware root of trust, and enforces it with a continuously learning artificial intelligence engine, which secures systems also from future attacks. “Unlike the currently available distributed point solutions, Axiado’s comprehensive security is good news to the digital infrastructure that is plagued by widespread, frequent and extremely costly security breaches like the recent SolarWinds hack against the Department of Defense,” said Dave Welch.
This initial Series B closing brings Axiado’s total funding to $33 million since its Series A financing back in 2018 and provides the company with working capital to finish its intelligent security processors.