Avaneidi secures funding to advance data security

Author: Simon Rowley

Avaneidi, an innovative Italian start-up specialising in security enterprise storage systems, has announced an €8 million (£6.7m) Series A funding round by United Ventures. The investment underscores a shared commitment to advancing solid-state storage technologies, enhancing data security, and promoting a sustainable digital transition.

Avaneidi develops comprehensive enterprise storage systems based on a rigorous 360-degree, multi-level ‘security by design’ approach, enabling an unprecedented degree of cyber security, protection and data reliability for enterprise-grade applications. Avaneidi’s storage technology advancements boost performance, security and reduce energy consumption. This allows electronic devices and data centres to increase their operating efficiency and limit their carbon footprint, addressing key sustainable development goals such as clean energy and sustainable industry innovation.

Avaneidi’s Enterprise Solid State Drives (ESSDs) utilise tailor-made chips and advanced algorithms, providing a bespoke solution optimised for performance and cyber security applications. Designed for on-premise data centres, their storage appliances offer a cost-effective, highly efficient alternative to traditional storage solutions, featuring extended drive lifetime, improved security and significant energy savings.

“Our mission at Avaneidi is to pave the way for more secure, efficient, and sustainable data storage solutions,” says Dr. Rino Micheloni, CEO of Avaneidi. “This funding will keep us at the forefront of the market, enabling us to accelerate the development of our enterprise ESSDs and all-inclusive storage appliances. Unlike off-the-shelf products, our solutions address cyber security and data governance issues by leveraging a tight hardware-software co-design while offering extensive customisation options.”

Avaneidi targets organisations and industries that are highly sensitive to data governance and security, particularly within the rapidly evolving field of AI applications, where these issues are of paramount importance, such as finance, defence, automotive and healthcare. By prioritising data integrity and protection, Avaneidi empowers entire industries to better leverage AI technology safely and effectively when it comes to storage solutions.

Avaneidi’s technology’s potential has attracted the attention of major industry players, the company states. Negotiations and preliminary agreements are in place to validate and expand the market reach of its innovative products.

“United Ventures invests in technologies that have a tangible positive impact,” states Massimiliano Magrini, Managing Partner at United Ventures. “Avaneidi’s vision and mission to enable organisations to make better and more sustainable storage decisions, focusing on governance and data security, align with our investment philosophy. By channeling resources into AI infrastructure like Avaneidi’s, we aim to facilitate the development of technologies that will redefine industries and transform tomorrow’s society.”

As the AI sector rapidly expands, robust infrastructure for advanced AI applications is paramount. According to recent estimates, the AI infrastructure market is projected to grow from $25.8 billion (£20.3bn) in 2022 to $195 billion (£153.9bn) by 2027, reflecting a compound annual growth rate (CAGR) of 50%. This surge is driven by significant advancements in AI computing, which is expected to escalate from $15.8 billion (£12.4bn) in 2022 to $165 billion (£130.2bn) in 2027, achieving a 60% CAGR.