The data centre technology developer will put the proceeds from the CUI-led round into its marketing and research and development activities.
Power and electromechanical component provider CUI Global has led a $17m series B round for US-based data storage technology developer Virtual Power Systems (VPS). The majority of the company’s existing investors also took part in the round, although the exact participants were not disclosed by the company. Founded in 2014, (VPS) has developed software-defined technology that is designed to optimise power distribution within a data centre. Its Intelligent Control of Energy software adjusts power delivery as demand fluctuates across workloads and servers, reducing the wait and costs associated with power infrastructure. The series B capital will go to funding the company’s research and development and marketing efforts. William Clough, CUI’s president and chief executive, said: “VPS and CUI share the vision that the convergence of data centre power infrastructure and software will dramatically improve how energy is provisioned, managed and utilised in modern data centres.” VPS secured $3.8m in funding from 22 unnamed investors in 2014, according to a regulatory filing, adding $9.6m two years later according to a separate filing.