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Flash storage vendor GreenBytes closed a $12 million funding round this week, led by Al Gore’s venture capital firm.
GreenBytes sells two platforms of hybrid arrays combining solid-state drives with hard drives, and in February launched Solidarity – an all-SSD drive with a starting price of under $100,000 for 13.4 TB. The startup said it will use its second funding round to expand sales, marketing and channel development.
Generation Investment Management LLP, co-founded by Al Gore in 2004, led the round with a contribution from Battery Ventures and GreenBytes management. Former U.S. vice president Gore is chairman of Generation Investement, which claims to make investments based on a company’s economic, environmental, social and governance sustainability factors.
That means it’s probably more interested in the green than the bytes with its new investment. Flash vendors say they are green because their systems have a smaller footprint and use less power than spinning disk storage.
Regardless of their environmental impact, flash array vendors are pulling in the green. EMC reportedly paid $430 million for XtremIO this month, and Violin Memory, Whiptail and Starboard Storage have closed funding rounds this year.