TechnologyVAST valuation triples to $3.7 bln after Tiger Global-led investment
Reuters
2 minute read
Software storage company VAST Data said on Tuesday it had tripled its valuation in a year to $3.7 billion after raising $83 million in a funding round led by investment giant Tiger Global Management.
This is the latest in a flurry of funding deals that Tiger has led in recent months, amid sky-high demand for fast-growing tech startups. The investment company has also recently backed cloud firm Redis Labs and e-commerce platform Kajabi.
Squarespace, one of Tiger Global s portfolio companies which was valued at $10 billion in March, is going public through a direct listing later this month.
UPDATE 1-VAST valuation triples to $3.7 bln after Tiger Global-led investment Reuters 5/4/2021
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May 4 (Reuters) - Software storage company VAST Data said on Tuesday it had tripled its valuation in a year to $3.7 billion after raising $83 million in a funding round led by investment giant Tiger Global Management.
This is the latest in a flurry of funding deals that Tiger has led in recent months, amid sky-high demand for fast-growing tech startups. The investment company has also recently backed cloud firm Redis Labs and e-commerce platform Kajabi.
Squarespace, one of Tiger Global s portfolio companies which was valued at $10 billion in March, is going public through a direct listing later this month.
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Gap puts Exotec’s robotics system to the test in returns management
Retailer testing system for how well it can replenish inventory with e-commerce returns
0 68 2 minutes read French robotics company Exotec has embarked on a pilot run with the Gap in North America, testing its Skypod robots to handle e-commerce returns management. (Photo: Exotec)
E-commerce growth is driving more companies to automate their warehouses. The speed and cost savings that can be gained through robotics and automation can help offset the demands of e-commerce picking, which is both time-consuming and expensive.
Warehouse automation saw 50% growth in venture capital investment in 2020, and the global warehouse robotics sector is expected to reach $6.8 billion by 2025. Despite the increasing pressure for speed and accuracy that e-commerce has generated, 80% of warehouses are still manually operated with no supporting automation, according to DHL.
Istio is an open source project that is phenomenal in the use case of I have a cluster, Zack Butcher, founding engineer at Tetrate who was an early Istio developer while at Google, told DCK. The problem is that no legitimate enterprise has a cluster. In the real world, these are disparate, heterogeneous deployments. Some of it s in cloud, maybe in five different clouds, and it s in on-prem data centers.
Tetrate takes the same approach to tackling Istio s complexity other vendors have successfully brought to Kubernetes. Service Bridge abstraacts many of Istio s controls from the user while making them available if needed. It accomplishes this by automating some processes with help from existing open source projects, such as SkyWalking, a perfomance monitoring tool; and Zipkin, a tracing system used to troubleshoot latency issues.