Thursday, June 27, 2019

Fungible raises $200 million for Data Processing Units (DPUs)

Fungible, a start-up based in Santa Clara, California, closed $200 million in Series C financing for its efforts to create an entirely new category of programmable processor.

The Fungible Data Processing Unit (DPU) aims to deliver an order of magnitude improvement in the execution of data-centric workloads. The company sees its DPU as a fundamental building block for next-generation data centers.

Fungible has not yet announced its first products. In previous blog posts, Fungible has talked about Composable Disaggregated Infrastructure (DCI), where compute and storage resources are stored in separate servers and interconnected by a very high bandwidth, reliable and low-latency IP over Ethernet (IPoE) network fabric.

Fungible was founded by Pradeep Sindhu and Bertrand Serlet. Sindhu previously founded Juniper Networks, held roles as CEO and CTO, and is now chief scientist. Serlet previously founded a storage startup and before that was senior vice president of software engineering at Apple.

The latest funding was led by the SoftBank Vision Fund with participation from Norwest Venture Partners and existing investors, including Battery Ventures, Mayfield Fund, Redline Capital and Walden Riverwood Ventures. Fungible has raised $300 million to date.