MemoScale raises money from Alliance Venture

MemoScale, a Trondheim, Norway-based startup providing erasure coding (EC) technology, has raised an undisclosed amount of investment from Alliance Venture.

MemoScale, founded in 2015 by six people led by CEO Per Simonsen, specializes in developing erasure coding and data protection solutions for data storage. The six started working at the actual project work in 2013 with error coding optimization for networking - data storage was subsequently seen to be a better opportunity.

MemoScale was almost breakeven and had NOK 3.7M in revenues in 2016.

Prior to this investment, MemoScale has been granted around 10 million NOK ($1.2M) from the Research Council of Norway and NTNU Discovery.