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DAILY NEWS AND INFORMATION
FOR THE GLOBAL GRID COMMUNITY /
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Systems/Enterprise:
TERRASCALE COMPLETES
OVER-SUBSCRIBED FIRST ROUND OF FINANCING
Terrascale Technologies, an innovative developer of next generation
input/output (I/O) software, announced the completion of a $2.75 million
over-subscribed round of financing, led by New York-based Entrepia Ventures.
Innovatech Montreal and several private investors also participated.
Terrascale's flagship product - TerraGrid - enables commodity Linux
clusters
to sustain unprecedented levels of I/O performance while providing linearly
scalable parallel access to unified pools of data. TerraGrid is the "glue"
that binds together best-of-breed commodity servers, networks and Open Source
software, enabling sustained application efficiency levels previously
attainable only on expensive and proprietary monolithic platforms.
TerraGrid-enabled solutions are ideally suited to data-intensive business and
R&D operations, including: bioinformatics, digital content creation,
engineering design automation, quantitative analysis, meteorological modeling
and seismic processing.
Terrascale will strategically invest its newly acquired capital in
increased
research and development, sales, marketing and business development
initiatives, and the recruitment of new personnel.
"Terrascale has delivered revolutionary technological innovation to the
marketplace in a very short period of time," said Gene Kawaratani, chairman of
Entrepia Ventures. "The company's success can be directly attributed to the
incredible dedication of its seasoned team and its firm commitment to
disciplined financial management."
"The support of our investors will enable us to grow at an accelerated
pace,"
said Gautham Sastri, president and CEO of Terrascale Technologies. "The
tremendous interest in Terrascale as an investment opportunity - has
enabled us to hand-pick our financial partners. We will continue to apply our
proven management practices and look forward to rewarding our investors."
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