<article>Israel-based cloud storage solutions provider Pliops has raised a $30-million Series B round led by SoftBank Ventures Asia, it said in a statement on Wednesday.</article>

Israel-based cloud storage solutions provider Pliops has raised a $30-million Series B round led by SoftBank Ventures Asia, it said in a statement on Wednesday.
All of the startup&#8217;s Series A investors, including Intel Capital, State of Mind Ventures and Viola Ventures, along with strategic investors Western Digital Capital and Xilinx Inc, also participated in the round.
Pliops said the round was oversubscribed, bringing the total capital invested in the startup to $40 million, including its $10-million Series A raised in October 2017.
The fresh capital will be used to accelerate development of its storage processor technology for cloud storage and database applications, including expansion of its teams in the US, Israel and China. Its recently-appointed president and chief business officer Steve Fingerhut will spearhead global expansion and oversee the company&#8217;s product debut planned for mid-2019.
&#8220;Businesses must scale their infrastructures in the face of skyrocketing data volumes, and we&#8217;re excited to help them. Pliops&#8217; technology transforms storage so that organizations achieve more consistent, readily-scaled performance with a simplified software stack,&#8221; said Pliops co-founder and CEO Uri Beitler.
Pliops was founded in 2017 by flash storage industry veterans from Samsung, M-Systems and XtremIO. With eight core patents pending to date, its product claims to deliver step function improvements across computing, networking and storage infrastructure.
The worldwide public cloud services market is projected to grow 17.3 per cent in 2019 to total $206.2 billion, up from $175.8 billion in 2018, according to Gartner, Inc.
&#8220;Pliops is solving a critical problem for database and storage architects – and doing it in a way that is both elegantly simple and amazingly efficient. There is tremendous pent-up demand worldwide for solutions that enable next-generation data centers to perform and scale more efficiently, particularly in large cloud providers&#8217; environments,&#8221; said SoftBank Ventures Asia CEO and managing partner JP Lee.
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Pliops' Series A investors, including Intel Capital, State of Mind Ventures and Viola Ventures, and strategic investors Western Digital Capital and Xilinx also participated in the round.

SoftBank Ventures Asia leads Israel-based Pliops' $30m Series B round

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SoftBank Ventures Asia leads Israel-based Pliops' $30m Series B round

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