Joyent, which is an internet cloud service provider, has reportedly raised an unspecified amount of funding from the largest computer chip maker in the world, Intel Corporation. Joyent was funded in the fast by Intel for a joint venture with Intel and Qinhuangdao Economic and Technology Development Zone that enabled the cloud computing firm to expand its reaches to China.
The extra funding from Intel will allow Joyent to expand its infrastructure and put wheels to its product development along with its sales and marketing portfolio. However, as per the filing carried out by Intel to the U.S Securities & Exchange Commission, it seems that Intel has invested $8.5 million and as per the sources close to the deal, even Dell Inc. has also invested an unspecified amount of money in Joyent.
According to Arvind Sodhani (Executive V.P, Intel),
“Innovation does not stop during economic slowdowns. New technologies are the drivers of growth that help lead economies back to prosperity, and Intel Capital continues to be a leading investor in companies pioneering such advancement. These new and follow-on investments in companies at various stages of development and geographies demonstrate Intel Capital’s unwavering commitment to invest in technology innovation globally.”
Joyent has been in the business of offering private cloud computing services to interested companies and is already in a deal with Dell Inc. where the cloud computing expert’s software comes pre loaded on Dell computers. According to David Young (CEO, Joyent),
“Cloud computing technologies play a crucial role in allowing companies to scale their data center infrastructure to meet performance and TCO requirements. Joyent’s approach to flexible and cost-effective cloud control and cloud development sets it apart and provides measureable performance advantages versus the competition in this fast growing sector.”