Tuesday, April 2, 2013

Midokura's Network Virtualization Attracts $17 Million in Funding

Midokura, a start-up with offices in Tokyo, San Francisco and Barcelona, announced $17.3M in Series A funding for its network virtualization technology.

Midokura offers an overlay-based network virtualization technology that allows cloud users to provision virtual network devices, including virtual switches, routers, firewalls and load balancers. Virtual network devices can then be connected to virtual machines, as well as other virtual network devices to create complex network topologies.

Midokura said its solution can be fully distributed and can be scaled out incrementally as demand increases. With MidoNet, users can virtualize the network stack for popular cloud platforms and reduce associated costs of managing the network.

The round was led by Innovation Network Corporation of Japan (INCJ), a Japanese public-private partnership. Other investors who participated in the round include NTT Group’s Venture Fund: NTT Investment Partners, L.P. and NEC Group’s Venture Fund: Innovative Ventures Fund Investment L.P.

Midokura also named Dan Mihai Dumitriu as its CEO. Mihai is a co-founder and previously served as CTO. Fellow co-founder Tatsuya Kato, who had been serving as CEO, is now Chairman of the Board.


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