German DeepTech startup SimplyBlock has raised €2.5 million ($2.75 million) in a seed round from 42CAP, Antler and Alexey Menn’s Begin Capital, Antler said in a statement. Over the two years of its existence, the company received 3.3 million dollars.
SimplyBlock was founded in 2022 in Berlin by Michael Schmidt and Rob Pankow. The startup specializes in developing software for data storage in the cloud. The company’s goal is to help enterprises maximize the efficiency of their data storage against mission-critical workloads.
According to its own data, the company’s technology offers up to 50 times greater cost-performance ratio compared to existing solutions.
SimplyBlock is confident that its future development will significantly reduce the amount of power consumption required to operate cloud storage.
- Begin Capital was founded in 2019 and is based in London. The venture fund supports European technology companies, participates in Seed and Series A rounds, investing between 100,000 and 3 million dollars.
Author:
Karina Pardaeva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
