Presidio Ventures, the US-based corporate venturing division of Japan-based general trading corporation Sumitomo, invested an undisclosed amount in Israel-based data recovery software firm Axxana on Wednesday.
Prior to Presidio’s funding, Axxana had raised $14m in financing over two rounds. Axxana’s series A raised $5m from venture capital (VC) investor Gemini Israel Funds, in 2007, and was followed by a $9m series B round in November 2009 in which Gemini was joined by VC fund Carmel Ventures and angel investor Moshe Yanai.
Sumitomo’s interest seems to have been piqued by a series of recent natural disasters in Japan including the earthquake and tsunami experienced by the country this year. Axxana’s Phoenix System enables businesses to protect and later recover 100% of their data over any distance, and for a comparatively low cost.
Tsuyoshi Konda, general manager of Sumitomo’s principal investment department, said: "Generally speaking, as Japan is situated in an area…
