March 10, 2003
Woodside Fund Leads Series C Funding
of Storage Processor Startup
Woodside Fund Venture Partner Rick Shriner joins
Board of Directors
Redwood Shores, Calif. – March 10, 2003 – Woodside
Fund today announced it led a $20 million Series C funding round
in Aristos Logic Corp., the developer of the world’s first
Intelligent Storage Processor.
Woodside Fund invested $8 million along with pro-rata participation
from previous investors JP Morgan Partners, TPG Ventures and QTV
Capital. The round also included one additional new investor, Macnica
Networks Company of Japan.
In conjunction with the investment, Woodside Fund Venture Partner
Rick Shriner joined the Aristos Logic Board of Directors. Shriner
is a former CEO of two startups and executive manager at several
leading technology companies.
“Woodside Fund’s investment in Aristos Logic is a
unique opportunity to work with a company positioned to alter and
improve the networked storage landscape,” Mr. Shriner said. “Aristos
Logic’s Intelligent Storage Processor technology has unprecedented
levels of performance and extensive storage management capabilities.
It is poised to become a de-facto standard for enterprise storage
Anil Gupta, President and CEO of Aristos Logic, a fabless semiconductor
company based in Foothill Ranch, Calif., looked forward to tapping
the business acumen of the Woodside Fund team.
“Woodside Fund’s operational and management experience
will be invaluable to Aristos Logic,” Mr. Gupta said. “We
are fortunate to partner with a firm of this caliber.”
The funding will go toward production of the company’s flagship
device, FibreSlice™, the first product incorporating Aristos Logic’s
Intelligent Storage Processor. The company also will use the proceeds
in sales, marketing and research and development.
FiberSlice™ and a companion development kit are available today.
FibreSlice™ accelerates data storage applications and delivers
exceptional performance and real-time traffic statistics.
Aristos Logic’s target customers are major storage vendors
and leading original equipment manufacturers. The company has secured
design wins from three leading storage companies and is in discussions
Aristos Logic’s management team boasts many decades of
technology and operations experience in the storage and networking
technology fields. Aristos Logic executives have worked at companies
ranging from Intel Corp., Western Digital, Arthur Andersen and
Unisy, to Siemens AG, Xerox Corp., Storage Tek and Smith International
Aristos Logic, founded in February 2000 and a spin-off of Western
Digital Corp., currently has 60 employees.
About Woodside Fund
Woodside Fund is a leading venture capital firm that excels in
developing seed- and early-stage technology companies. Founded
in 1983, the Fund attributes its long record of success to the
high value it places on building productive partnerships with
entrepreneurs, investors and other service providers. Typically
a lead investor, Woodside Fund invests from $5 million to $15
million in early-stage companies focused on enterprise software
and network infrastructure located in Northern California and
the West Coast. Woodside Fund has five funds and actively manages
more than $300 million in investments. For more information,
go to www.woodsidefund.com.
About Aristos Logic
Headquartered in Foothill Ranch, Calif., Aristos Logic is a leading
developer of innovative, paradigm changing silicon solutions
for the networked storage market. Aristos Logic is the inventor
of the Intelligent Storage Processor, a technology designed to
bring a whole new level of performance, manageability, flexibility
and scalability to networked storage. Founded in February 2000,
Aristos is staffed by industry professionals with extensive experience
in System on Chip (SoC) design, hard disk drives, networked storage,
RAID controllers, networking, storage management and I/O interface
technologies. For further information, please visit our Web site
related questions or comments, please contact Matt Bolton at email@example.com
or phone 650.610.8050.