GridGain Raises $10 Million To Grow In-Memory Computing
August 2nd, 2013 By: John Rath
GridGain secures $10 million to expand in-Memory Computing, Wroclaw and IBM preserve rare European documents, and Resona Bank selects a Teradata Active Enterprise Data Warehouse.
GridGain secures $10 million. In-Memory computing platform provider GridGain announced that it has closed on $10 million in Series B venture financing. The round was led by new investor Almaz Capital, a global venture capital firm, with continued participation from previous investor RTP Ventures, the U.S. arm of ru-Net Holdings and one of the largest internet and technology investors in Russia. The funds will be used to expand sales, marketing and new product development to meet the growing need for in-Memory Computing (IMC)in big data environments. “GridGain is addressing a real need in a rapidly growing big data market. Due to this market growth, the company is making tremendous traction,” said Geoff Baehr, managing partner, Almaz Capital. “Almaz Capital’s goal has always been to seek and build long-term partnerships with passionate entrepreneurs who are eager to make a difference. GridGain’s management team has proven experience in In-Memory Computing as well as the vision and drive to transform the industry.”
Wroclaw University turns to IBM big data solution. IBM and the Wroclaw University Library in Poland announced a national scientific project to preserve and digitize nearly 800,000 pages of distinctive European manuscripts, books, and maps dating back to the Middle Ages and rarely accessible to the public until now. Co-founded by the European Union through the European Regional Development Fund, the project will create the largest digital archive of medieval manuscripts and ancient geographical atlases in Poland. To address the big data challenge the project will use IBM System X servers and storage – to provide search and retrieval services for up to 300 terabytes of information. ”The Wroclaw University Library’s mission is to protect, preserve and ensure broader access to Polish cultural heritage,” said Adam Zurek, Head of the Department of Scientific Documentation of Cultural Heritage, Wroclaw University Library. “We selected IBM to help us identify, choose and implement a solution in line with our goals of digitizing the library’s documents and making them available to the broader public online. Thanks to the IBM Smarter Computing solution, our library has enhanced its potential as an educational resource for students and researchers from Europe and all over the world.”
Teradata selected by Resona Group. Teradata (TDC) announced that the Resona Group deployed a Teradata Active Enterprise Data Warehouse to better serve customers and improve efficiency. The Data Warehouse will support the strategic and real-time operational inquiries from 14,000 bank employees, 2,200 ATMs, 230 call center representatives, and all customers doing internet banking. Using analytics, the Resona Group will be able to better develop new financial products and services, reach corporate and individual customers with timely marketing campaigns, improve efficiency, and reduce operational costs. ”With the latest Teradata technology, Resona Bank will be able to more efficiently reach and serve its customers at call centers, through on-line banking and at bank branches,” said Yukihiko Yoshikawa, president, Teradata Japan. “We support Resona Bank’s leadership and vision; their data-driven sales and service strategy will enable them to achieve their growth initiatives.”