, a San Jose, California-based enterprise infrastructure provider that taps high-speed memory and storage optimized for AI and data science , today emerged from stealth with $24.5 million in series A funding led by Banyan, with participation from Gaorong Capital, Jerusalem Venture Partners, LDV Partners, Lightspeed Venture Partners, and Northern Light Venture Capital. The fresh capital will be used to “significantly” expand engineering, sales, and marketing teams, said MemVerge CEO Charles Fan, and to accelerate product development.

“The transformation of the data center is long overdue,” added Fan, a former EMC and VMware executive who cofounded the company with Caltech colleagues Professor Shuki Bruck and postdoctoral student Yue Li. “By eliminating the boundaries between memory and storage, our breakthrough architecture will power the most demanding

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