Tuesday, September 15, 2009

GreenBytes completes $8M Series A funding round

By Mass High Tech staff

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GreenBytes Inc., a data storage system developer in Ashaway, R.I., has completed an $8 million Series A round of funding, backed by Battery Ventures.

The bulk of the funding, $7.5 million, was raised earlier this year when the company first submitted a regulatory filing.

GreenBytes develops energy-efficient deduplication storage appliances. The company is unveiling today its GB-X storage appliance family.

GreenBytes was founded in 2007 by Robert Petrocelli, who founded Rhode Island health-care information technology startup Heartlab, which sold in 2005 to Agfa-Gevaert NV for $132.5 million.

Founded in 1983, Waltham-based Battery Ventures also has offices in Silicon Valley and Israel, and it manages more than $3 billion in committed capital, including its current fund of $750 million.