PRESS RELEASE - Gnodal Ltd receives an investment
Dawn Capital Invests in Gnodal A Round
LONDON, UK, JULY 21, 2009 – Gnodal (www.gnodal.com), a pioneer in
developing 10/40Gb Ethernet switches for high performance data centers, announced
that it has raised Series A investment from Dawn Capital. The Company will use this
investment to accelerate product development, and continue to build its client base.
Norman Fiore, Managing Partner at Dawn Capital, will join Gnodal’s Board of
Directors. Fiore says, “Gnodal is taking a path that the large incumbents are not
following. The technology is disruptive in terms of performance, price, and power,
and is being well received by blue chip companies around the world. CEO Fred
Homewood, has brought together a highly experienced core team and we are
anticipating strong demand for Gnodal’s first products in 2010.”
Homewood says “When we set out, no-one was talking about building large, scalable,
Ethernet networks for data centers. The landscape is changing radically with the
emergence of Virtualization, Cloud Computing and powerful multi-processor, multi-
core servers. End-users in industries such as Banking, Internet, Energy and Telecoms
are validating our vision.”
In the recent economic climate, many VCs who would traditionally invest in this
sector have shied away from early stage companies. In contrast, Dawn sees the huge
potential of Gnodal’s proposition and the strength of the team. “Working with Dawn
has been a breath of fresh air,” says Homewood, “The investment process has been
very swift and effective, concentrating on the bigger picture, enabling the company to
forge ahead with product development and customer interaction.”
“This is a very exciting investment for Dawn Capital” said Fiore, “The next
generation of high performance data centers will be about efficiently scaling the
network to meet new demands for processing power, data throughput and storage.
Gnodal has anticipated this trend, and is leading the field by a considerable distance.
We look forward to working with the team.”
ABOUT DAWN CAPITAL (www.dawncapital.co.uk)
Dawn Capital are institutional investors and experienced business builders that have
previously collectively invested in over 100 companies and been involved in several
high profile rapid growth technology businesses, such as Virgin Media, Forbes.com,
Advertising.com, and Self Trade. Dawn Capital backs outstanding companies seeking
expansion capital of up to £5M in the Financial Services and TMT sectors.
ABOUT GNODAL (www.gnodal.com)
Gnodal uses key patented inventions, contained in its revolutionary PETA ASIC, to
remove congestion from Ethernet networks. The consequence is the unique capability
to build very large, efficient, low-power data center networks, with performance and
quality-of-service preserved as the network scales.