Nyriad Successfully Completes Series B Capital Raise
Nyriad today announced it has completed its Series B round of NZD 11m in financing from existing shareholders and simultaneously converted a NZD 22m convertible note into equity. The company now has NZD 15m in cash to fund its market entry into the US.
New Zealand will remain the Company’s technical center-of-gravity supported by a US based head office, business development, product management and marketing teams.
This new round enables Nyriad to initiate international commercialization of its innovative, disruptive technology, the Nyriad High Performance Storage Controller. Guy Haddleton, newly appointed Chair, said “Nyriad has the opportunity to transform the global storage industry with its ground-breaking controller. This funding allows Nyriad to confidently expand into the US and build a significant software business”.
Other board members include Joanna Perry, Tim Miles and Herb Hunt - who has been appointed CEO.