INTEL AND NVIDIA BACK $65M FUNDING ROUND FOR STORAGE CHIP STARTUP PLIOPS

Chip startup Pliops Ltd. today said that it has closed a $65 million funding round backed by Intel Corp., Nvidia Corp. and others to support its mission of making data center storage more efficient.

Very few Israeli startups can boast that the world’s leading technology companies invest in them and even fight over the chance to do so. One such company is cloud storage startup Pliops Ltd., which announced on Wednesday that it had completed a $65 million financing round led by Koch Disruptive Technologies, the tech investment arm of U.S. giant Koch Industries, and with chipmaking giant Nvidia increasing its shares. Other participants in what Pliops described as an oversubscribed funding round included State of Mind Ventures (SOMV), Viola Ventures, Intel Capital, Softbank Ventures Asia, Expon Capital, Western Digital, Xilinx, and Sweetwood Ventures.

A small portion of the capital was used to purchase shares from a previous backer. This is Pliops’s second financing round, bringing its total capital raised since its founding in 2017 to $115 million.

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