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Press release

NGD Systems Completes Series B Financing
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NGD Systems, the leader in Computational Storage, completes its Series B round of

financing to continue development and marketing of its Intelligent Storage Products

Irvine, Calif. – February 13, 2018 – NGD Systems, Inc. announced today the completion

of Series B round of financing with $12.4M. The round was led by new investor Partech

Ventures with participation from Orange Digital Ventures. Existing investors Alcor Micro

and BGV (Benhamou Global Ventures) also participated in the round. In addition,

company has received a $4M credit facility from SVB (Silicon Valley Bank).

“NGD Systems is very pleased to announce the closing of our B-Series round,” said Nader

Salessi, President and CEO of NGD Systems. “We see the strong participation of both our

existing investors and our new lead investor as validation of both our technology, and

explosive market opportunity.”

The proceeds will be used for strategic growth initiatives, including the acceleration of

go-to-market activities, continued innovation of the company's technology,

and migration of its advanced 14nm SSD controller to mass production.

The new round of financing brings NGD's total capital investment to date to $26M.

“The new application architectures are increasingly requiring the capability to gather

and process data at the edge of the cloud rather than send everything for central

processing,” said Reza Malekzadeh, General Partner at Partech Ventures. “We believe the

team at NGD Systems has the right expertise and experience to deliver this new

generation of Intelligent Storage devices and their progress to date has been


“We are extremely pleased to see further validation of our initial investment thesis from

a strong syndication led by Partech ventures” said Amir Nayyerhabibi, Chairman of the

Board of NGD Systems and partner at Benhamou Global Ventures. “We believe the new

paradigm shift created by NGD Systems will impact a wide array of industry applications

such as AI, cloud computing, and content delivery.”

“NGD Systems’ in-situ processing approach revolutionizes the deployment of

applications that today require huge clusters of expensive multi-socket servers with

large amounts of RAM. When combined with high capacity and low power consumption,

the result is significant cost, footprint, and power savings.” said Mike Heumann

Managing Partner at G2M Research a market research analyst specializing in NVMe


"We're excited to expand our partnership with NGD Systems in support of their growth

and expansion," said Derek Hoyt, Managing Director at Silicon Valley Bank. "Our

primary objective is to provide the right financing, connections and global services to

help the NGD Systems team move their business forward quickly."

About NGD Systems

Founded in 2013 with HQ in Irvine, Calif., NGD Systems (formerly NxGnData) is a

venture-funded company focused on creation of new category of storage devices that

brings computation to data. NGD has designed its advanced proprietary controller

technology which deploys patented Elastic FTL algorithm and Advanced LDPC Engines

to provide industry leading capacity scalability. The controller also deploys the patented

In-Situ Processing technology to enable Computational Storage capability. The company

is led by an executive team that helped drive and shape the flash storage industry, with

decades in leadership positions with storage companies such as Western Digital, STEC,

and Memtech. Learn more about us and our products at

About Partech Ventures

Founded in 1982 in Silicon Valley, Partech Ventures is a global investment firm with a

team spread across offices in Paris, Berlin and San Francisco. Most Partners have been

entrepreneurs themselves or have held management positions within tech companies.

The partnership acts and invests as a single team, helping entrepreneurs build fastgrowing

tech and digital companies addressing large markets across multiple

continents. Partech Ventures partners with entrepreneurs at the seed (Partech

Entrepreneur), venture (Partech International) and/or growth (Partech Growth) stages.

Companies backed by Partech Ventures have completed 21 initial public offerings and

more than 50 major M&A transactions with leading international companies. Since

2012, the team has built a pioneering business development platform fostering

synergies and business relationships between entrepreneurs and strategic partners. For

more information visit and follow @partechventures.

About Benhamou Global Ventures

BGV is an early-stage venture capital firm with deep Silicon Valley roots, with an

exclusive focus on enterprise technology opportunities in global markets. BGV currently

has 25 active companies in its portfolio. The BGV team of 8 investment professionals

has successfully built and implemented a cross-border venture-investing model with

companies from Israel, Europe and Asia. Eric Benhamou, former chairman and CEO of

3Com, Palm and co-founder of Bridge Communications, founded the firm in 2004.

Comprised of an experienced partnership team of global operating executives and

investors, BGV is often the first and most active institutional investor in a company and

has a powerful network of technical advisors, executives and functional experts who

actively engage with its portfolio companies. The company has offices in Palo Alto,

California and Tel Aviv, Israel. For more information: visit

About Orange Digital Ventures

Orange Digital Ventures detects and supports early-stage start-ups. Endowed with a

budget of 20 million euros for the first year, Orange Digital Ventures finances start-ups

that are transforming the telecommunications and digital sectors with innovative

solutions, disruptive technologies or through the invention of new business models in

the form of minority shareholdings. Orange Digital Ventures supports start-ups focused

on new connectivity services, corporate cloud and data services, payments and the

internet of things. It supports start-ups worldwide.

“About Silicon Valley Bank”

For 35 years, Silicon Valley Bank (SVB) has helped innovative companies and their

investors move bold ideas forward, fast. SVB provides targeted financial services and

expertise through its offices in innovation centers around the world. With commercial,

international and private banking services, SVB helps address the unique needs of

innovators. Learn more at” .

Press/Media/Analyst Contact:

Telephone: 949-870-9148

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