Midokura raises $17.3M in Series A funding – UPDATED

On April 9, Midokura announced that is going sponsor, exhibit and present at the OpenStack Summit which will be held in Portland, Oregon next April 15-18. The executives of the japanese company are going to present on topics including network virtualization and SDN throughout the event.

Japanese startup Midokura, focused on network virtualization and based in San Francisco, Barcelona and Tokyo, announced today it has raised  $17.3M in Series A funding from Innovation Network Corporation of Japan (INCJ), a Japanese public-private partnership, among the investors who participated also NTT Group’s Venture Fund: NTT Investment Partners, L.P. and NEC Group’s Venture Fund: Innovative Ventures Fund Investment L.P.

Midokura also named co-founder and previous CTO Dan Mihai Dumitriu as the new CEO, co-founder Tatsuya Kato, who was the previous CEO, is now Chairman of the Board.

The funding will be used toward furthering Midokura’s vision, product innovation and go-to-market strategy. Midokura’s MidoNet allow users to virtualize the network stack for popular cloud platforms and also integrates with cloud management solutions so that virtual network device provisioning is automated.

Dan Mihai Dumitriu, CEO of Midokura, affirms:

As enterprises and carriers embrace and build out IaaS clouds, an overlay-based network virtualization platform will soon be a must-have technology. The financial support of Innovation Network Corporation of Japan, and other key backers, validates our strategy as well as the work we’ve done over the past three years developing our industry leading product MidoNet. This funding will enable us to accelerate our product engineering, the establishment of partnerships, and the growth of our customer base. We look forward to delivering the most preformant, scalable and fault tolerant network virtualization solution to the IaaS infrastructure market.