Vawlt receives €2.15 million in new funding
Lisbon-based, rising start-up to continue bold investment in a unique, supercloud (cloud-of-clouds) long-term distributed storage solution that brings sovereignty, cybersecurity and cost efficiency to companies that create value with data
Lisbon, Portugal, March 12 2024: Vawlt, the visionary start-up in the global long-term data storage market, today announced that it closed an additional €2.15 million round of funding.
Vawlt secured a total of three new investors, with Lince Capital as the round leader, and Basinghall and Beta Capital listing as the other two new joiners. This latest funding round also includes participation from Vawlt’s existing investors Armilar and Shilling VC, as well as further investment from two former Cisco and OVHcloud executives.
Ricardo Mendes, CEO, Vawlt:
"We're thrilled with this news. It is a testament to our commitment to enhance data protection and sovereignty as well as business efficiency and independence. In the current world this is increasingly of key importance. This injection of capital will not only propel us into new markets and reinforce our support for channel partners, it will also fuel the continuous innovation of our product to provide our customers with exactly what they need."
Since its last round of funding in 2021, Vawlt has made significant advances in technology to support businesses as they transition to the cloud. This round brings the total funding to date to €3 million.
Vawlt will use the new funding to continue executing and expanding its product innovation strategy as it makes supercloud storage real for its customers, and intensifies the support for the global Channel Partner Network. The start-up is also expanding its team, and is looking to secure the best of the best for positions ranging from business development to roles within the product team.
Founded in 2018, Vawlt defines a totally new standard for reliability, security and resilience, and serves as a leading enabler for solid, long-term data storage strategies that support cross-sector business agility, unmatched in today’s market.
What is Vawlt’s unique supercloud solution?
Distributed Storage, Data-Centric Architecture and Improved Data Security are at the heart of Vawlt’s unique solution. Data is distributed in multiple clouds or on-premises nodes, simultaneously, creating a supercloud that enables companies to take advantage of the best-of-breed multiple storage environments through a single pane of glass: easy to use, secure and resilient by default. All users’ data is always available: even if some of the clouds are down, if they lose or corrupt the data, and also in case of a ransomware attack.
Only the data owner has access to file contents, and all the data is encrypted at the client side. Data never goes through Vawlt’s servers. It travels directly between the users’ machines and the storage clouds. Some of the techniques used by Vawlt include erasure coding and Byzantine-quorum systems for both dependability and cost-effectiveness.
Vasco Pereira Coutinho, CEO, LinceCapital:
"It's with great excitement that we announce our most recent investment in Vawlt. In an era of increasing concerns with data security and privacy, Vawlt's highly skilled team was able to materialize almost a decade of research into a leading product in the supercloud environment, positioning the company at the forefront of the future of cloud storage. In fact, the latest evolution to Vawlt 3.0 brings an even more robust and scalable product, which not only increases the value creation from distributors and partners, but also brings us an even more reliable and cost-efficient distributed cloud storage solution."
Vawlt’s Dynamic Storage platform enables channel partners to tailor and optimise storage offers to their customers’ respective needs and most common use-cases. In today’s world, simplifying data movement and security over hybrid and multi-cloud environments is critical to successful Enterprise IT. Vawlt’s breakthroughs in this technology over the past six years are both revolutionary and evolutionary.
Andrew Irvine, Founding Partner, Basinghall:
"Our choice to invest in Vawlt is based on the team's extensive technical expertise, enabling the company to offer a secure, innovative distributed supercloud storage solution. Vawlt allows its users to efficiently migrate their data to, or within a multi-cloud environment. It enables its customers to significantly accelerate their digitization process, hence aligning well with our investment thesis. We are excited to support their continued growth."
Roberto Branco, CEO, Beta Capital
"Vawlt bringsdata-science R&D into the market with a product that shows great potential. Vawlt helps companies to keep their data safe, while fully controlling theircost. We are excited to be on board."
Vawlt’s existing investors share the enthusiasm for the unique solution. Pedro Ramalho Carlos, partner, Shilling VC, remarked, "we believe that Vawlthas solved a very complex problem by building a very efficient, scalable, and easy-to-use solution. It provides a scalable tool for technology integrators to take advantage of hybrid technologies in a supercloud distributed storage environment to satisfy their customers' requirements." While João Dias, from Armilar, added: "nowadays, storage is a highly heterogeneous environment. Vawlt has all that potential by seamlessly combining cost-effective storage solutions, wrapped with new ransomware security protocols, abstracting companies and systems from the complexity of the underlying storage nodes."
About Lince Capital
Lince Capital is an independent venture capital company, registered and regulated by the Portuguese Securities Market Commission (CMVM), created in 2016. Lince Capital operates in the creation and management of venture capital funds and specialized investment funds with the aim of financing and supporting business opportunities with high growth capacity. It stands out for its personalized support and excellence, in a close and direct relationship with each of its investors and business partners, and for the dedication of an experienced and dynamic team.
About Basinghall Partners
Basinghall is a venture capital fund specializing in early-stage investments for digital enablers within traditional industries. With a diverse portfolio spanning various industries across Europe, Basinghall's mission is to support pioneering technology companies by providing capital, expertise, and guidance to the next generation of entrepreneurs.
About Beta Capital
Beta Capital is aprivate and independent venture capital company operating in Portugal since 2003. Since its foundation, Beta Capital has been focusing on innovative technological projects, financing, and contributing decisively with hands-on support to the projects and teams in which it invests so that they reach their full potential. Beta Capital team has a vast history and experience in managing venture capital funds and their investment portfolio. Beta Capital cares about the planet, humanity, and its stakeholders.
About Armilar
Armilar Venture Partners is Portugal's leading VC funds manager. An independent VC with a history of more than 20 years, a high-performance track record, and an international footprint, Armilar focuses on early-stage technology-based companies where data, digitization, and connectivity play a central role. For more information, please visit www.armilar.com
The Armilar VenturePartners TechTransfer Fund is supported by InnovFin Equity, with the financial backing of the European Union under Horizon 2020 Financial Instruments and theEuropean Fund for Strategic Investments (EFSI) set up under the Investment Plan for Europe. The purpose of EFSI is to help support financing and implementing productive investments in the European Union and to ensure increased access to financing. The fund is also co-financed by Fundo de Capital e QuaseCapital(FC&QC), managed by Banco Português de Fomento, S.A.
About Shilling VC
Shilling is a leading early-stage VC in Portugal that invests in a wide range of verticals and seeks out the biggest opportunities across all B2B and consumer categories. More than capital, Shilling offers direct access to successful founders and executives of leading companies. Shilling’s Platform supports entrepreneurs in validating and developing their ventures, accelerating growth into global markets
About Vawlt Technologies, SA
Vawlt is a visionary start-up with a unique, long-term supercloud (cloud-of-clouds) distributed storage solution that offers unmatched levels of privacy, security, and availability. Easy to use, secure and resilient by default, Vawlt’s solution enables companies to choose the best-of-breed from multiple storage environments: from public to private clouds to on-premises, all while simplifying processes, optimizing costs, and improving control over data. Vawlt puts companies in the driving seat over sovereignty, scalable storage volumes, and cost efficiency. To find out more, please visit: https://vawlt.io
