Deals
Aramco Venture Arm Investing in U.S. Startup Wasabi
- Western Digital also investing in cloud-storage company
- Wasabi seeks to beat Amazon Web Services on price, speed
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The venture capital arm of Saudi Arabia’s state-owned energy producer Aramco is investing in Boston-area cloud-storage startup Wasabi Technologies.
One of Aramco’s funds, Prosperity7 Ventures, is contributing to a $25 million follow-on investment, alongside the venture capital arm of disk-drive maker Western Digital Corp., Wasabi Chief Executive Officer David Friend said exclusively in a Bloomberg Radio interview Wednesday.