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Lisbon's Vawlt Technologies secures €2.15m for supercloud expansion
Tue, 12th Mar 2024

Vawlt, a Lisbon-based start-up offering a unique supercloud long-term distributed storage solution, has announced a new round of funding valued at an additional €2.15 million. This investment will further the expansion of the company's product innovation and global imprint, supporting the disruptive potential Vawlt holds within the long-term data storage market.

Vawlt Technologies secured three new investors in this funding round, including Lince Capital, Basinghall, and Beta Capital. Participation from existing investors Armilar Venture Partners, Shilling VC, and further investment from two former executives of Cisco and OVHcloud was also noted.

"We're thrilled with this news. It is a testament to our commitment to enhance data protection and sovereignty as well as business efficiency and independence. This injection of capital will not only propel us into new markets and reinforce our support for channel partners, but it will also fuel the continuous innovation of our product to provide our customers with exactly what they need.", said Ricardo Mendes, CEO of Vawlt.

Since its last funding round in 2021, Vawlt has made substantial improvements in technology to aid businesses transitioning to the cloud. This current funding brings the total amount to date to €3 million. The company intends to use the new capital to keep executing and expanding its product innovation strategy and to reinforce global Channel Partner Network support. The start-up is also growing its team, seeking standout talent for positions within the product team and business development.

Founded in 2018, Vawlt's supercloud solution employs Distributed Storage, Data-Centric Architecture, and Enhanced Data Security. It simultaneously distributes data in various clouds or on-premises nodes, thus creating a supercloud that allows companies to benefit from the best-of-breed multiple storage environments. Even if the data is lost or corrupted, or some clouds are unavailable due to a ransomware attack, it remains accessible. The data never travels via Vawlt's servers but goes directly between the user's machines and the storage clouds.

Vasco Pereira Coutinho, CEO of Lince Capital, expressed their excitement with the investment, stating the company was 'at the forefront of the future of cloud storage’. Andrew Irvine from Basinghall Partner shared the sentiment, saying that their decision to invest was based on the team's extensive technical knowledge.

Beta Capital’s CEO, Roberto Branco, praised Vawlt for successfully bringing data-science R&D into the market with great potential. Existing investors from Shilling VC and Armilar Venture Partners also shared their belief in the effectiveness and scalability of Vawlt's solution. This illustrates a strong backing from both old and new supporters, demonstrating high potential for Vawlt's future.