Hot cloud storage startup Wasabi secures investment from NTT DOCOMO Ventures to take on Amazon S3
Wasabi, the hot cloud storage company, announced that NTT DOCOMO Ventures has invested undisclosed amount in the company as part of its growing portfolio of Cloud technologies which will play a crucial role in the future growth of AI, IoT, Big Data, and digital government services.
The investment comes on the heels of today’s joint announcement from Wasabi and NTT Communications in which the companies announced the availability of Wasabi hot cloud storage as part of its Enterprise Cloud service offering beginning in October, and available in the US, EMEA and APAC regions. The investment was made through NTT DOCOMO Ventures, Inc., a wholly owned subsidiary of NTT DOCOMO.
Founded in 2015 by Carbonite co-founders and cloud storage pioneers David Friend and Jeff Flowers, the Boston, MA-basedWasabi delivers disruptive storage technology fast, low-cost, and reliable cloud storage. Amazon locks companies into their expensive storage and nobody likes vendor lock-in. Wasabi hot storage is 1/5th the price and 6x the speed of Amazon S3. Unlike first generation cloud vendors, Wasabi is solely focused on providing the world’s best cloud object storage service.
Wasabi’s expertise is solely focused on disruptive technology that delivers hot cloud storage at 1/5th the price of Amazon and faster than competitors with no charges for egress or API requests. NTT DOCOMO Ventures invests globally on behalf of NTT group companies to facilitate strategic relationships with innovative startups, seeking to enter the Japanese market. Together, Wasabi, and NTT group companies such as NTT Communications will leverage innovation in cloud storage in a revolutionary way that addresses the fast-changing needs of an increasingly mobile and digital global society.
Recognized as a tier one international investment firm, the capital raised from NTT DOCOMO ventures will be used to help fuel Wasabi’s international expansion including operations and a presence in the Asia Pacific region.
Commenting on the funding, David Friend, CEO of Wasabi stated, “We are honored to have an esteemed investment partner like NTT DOCOMO Ventures as it validates Wasabi as a true international player and puts us in a strong position for future expansion.” He also adds, “The demand for affordable, reliable, and fast cloud storage will continue to accelerate as businesses move from on-premises storage and migrate to the cloud to stay relevant. With partners like NTT Communications and other NTT group companies, hot cloud storage will be available globally with new Wasabi data centers opening in Asia and Europe and beyond.”