Vertex Ventures leads $18m Series B investment in Silicon Valley startup Hedvig

Visual from Vertex Ventures website

Vertex Venture Holdingsthe venture capital arm of Singapore state fund Temasek Holdings Pte, has led an $18 million Series B investment in Silicon Valley startup Hedvig Inc

Founded by long-time Silicon Valley software engineer software engineer Avinash Lakshman, this latest round of venture funding comes within two months of the software-defined storage company raising $12.5 million in a combined seed and Series A round. The company’s existing investors True Ventures and Atlantic Bridge also participated in the latest funding round.

Total funding in Hedvig, which launched in 2012, now stands at around $30.5 million. The latest infusion of capital will be used to fund research and development, customer support and sales.

Lakshman founded Hedvig after having co-created Dynamo, a NoSQL database that inspired Amazon DynamoDB and is now part of Amazon Web Services. He also developed Cassandra for Facebook Inc, a widely used NoSQL database that was later put into open source.

NoSQL, meaning “not only SQL” in reference to the SQL database language, is more flexible than SQL. This is due to its ability to accommodate data structured in different ways.

Hedvig’s flagship product, the Hedvig Distributed Storage Platform (HDSP), is a software that consolidates storage, regardless of data type or geographic location into a virtualised pool.

According to Vertex Ventures general partner In Sik Rhee, HDSP runs on x86-based hardware, which is low-cost and comparable to Cassandra.

Official statements claim that in terms of usability, it is as simple as Amazon Web Services.

According to Lakshman, Hedvig’s product is ready to enter the market and has been successfully deployed with large enterprise customers in the retail and financial sectors, as well as in iron ore mining and other industries.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.