Robert Bosch Venture Capital invests in USD 6 million funding round of Sunlight
Virtualization Technology to Make High-Performance Cloud a Reality
- Robert Bosch Venture Capital invests alongside OpenOcean
- Sunlight’s virtualization technology is the solution for bottlenecks in applications like AI, analytics and big data caused by the massive upwards trend in data creation
- “With Artificial Intelligence increasingly becoming an essential part of people’s life, Sunlight has great strategic relevance for Bosch to potentially streamline operations” says RBVC managing director Dr. Ingo Ramesohl
Stuttgart, Germany – Robert Bosch Venture Capital GmbH (RBVC), the venture capital arm of the Bosch Group, has participated in a 6 million US Dollar financing round in Cambridge (UK) based Sunlight.io, investing together with OpenOcean, a pan-European early stage investor in B2B software that was founded by the early investors and founders of MySQL. The proceeds of the round will be used to scale the company’s business particularly in the US market.
As businesses increasingly rely upon data-intensive applications like analytics, big data and artificial intelligence (AI) to run their core business processes, Sunlight’s technology can cut the infrastructure costs of running these applications by 70%.
“While AI and IoT is increasingly becoming an essential part of people’s lives, companies like Bosch have to process unprecedented amounts of data” says RBVC Managing Director Dr. Ingo Ramesohl. “As Sunlight brings all the benefits of virtualization to any high-performance workload in the cloud as well as to applications at the edge, it has great strategic relevance for Bosch to streamline operations”.
Virtualization Technology Enables High-Performance Cloud
Despite significant advances in storage and networking hardware, existing cloud and virtualization technologies are not architected to support the digestion of massive amounts of data I/O necessary, and are too bloated to run in resource-constrained edge environments. This results in large overinvestments in IT infrastructure, and failed cloud migrations. And with data volumes forecast by IDC to increase 4x by 2025 and 75% of data collection forecast to move to the edge according to Gartner, Sunlight’s technology will become increasingly mission critical.
“Data volumes are skyrocketing. It’s not uncommon to see enterprises hike their infrastructure costs up to 10x for some data-intensive applications when they move to the cloud. Cloud has been instrumental in unlocking greater IT flexibility, and now we at Sunlight are equipping it to rise to the challenge of supporting the applications that consume that data.” says Sunlight Founder and CEO Julian Chesterfield, a virtualization pioneer. “By transforming cloud infrastructures, we’re allowing businesses to achieve huge efficiencies, cost savings and performance gains for today’s most highly demanding workloads – from genetic sequencing and automated drone monitoring to rendering hi-definition movies.”
World class team with game changing technology
Chesterfield was one of the architects of Xen virtualization, the original foundation of many of today’s most popular cloud services. “We are very impressed with what the team has been able to achieve so far and are excited to support them going forward” says Ramesohl. Chesterfield adds: “With RBVC as a global deep tech investor and OpenOcean as a leading European data infrastructure investor, we are well set up for rapid growth in 2021”.
About RBVC GmbH
Robert Bosch Venture Capital GmbH (RBVC) is the corporate venture capital company of the Bosch Group, a leading global supplier of technology and services. RBVC invests worldwide in innovative start-up companies at all stages of their development. Its investment activities focus on technology companies working in areas of business of current and future relevance for Bosch, above all, automation and electrification, energy efficiency, enabling technologies, and healthcare systems. RBVC also invests in services and business models as well as new materials that are relevant to the above-mentioned areas of business.
Additional information is available at www.rbvc.com
Sunlight makes performance possible anywhere – from the cloud to the edge. Demanding applications like AI, Big Data, Analytics and Rendering run 3x faster on Sunlight compared to legacy virtualisation, and because Sunlight has a tiny footprint – it’s perfect for the edge. Enterprises and MSPs use Sunlight to cut the costs of delivering high performance IT by 70%.
Find out more at https://sunlight.io
The Bosch Group is a leading global supplier of technology and services. It employs roughly 400,000 associates worldwide (as of December 31, 2019). The company generated sales of 77.7 billion euros in 2019. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. As a leading IoT provider, Bosch offers innovative solutions for smart homes, Industry 4.0, and connected mobility. Bosch is pursuing a vision of mobility that is sustainable, safe, and exciting. It uses its expertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its customers connected, cross-domain solutions from a single source. The Bosch Group’s strategic objective is to facilitate connected living with products and solutions that either contain artificial intelligence (AI) or have been developed or manufactured with its help. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.” The Bosch Group comprises Robert Bosch GmbH and its roughly 440 subsidiary and regional companies in 60 countries. Including sales and service partners, Bosch’s global manufacturing, engineering, and sales network covers nearly every country in the world. The basis for the company’s future growth is its innovative strength. Bosch employs some 72,600 associates in research and development at 126 locations across the globe, as well as roughly 30,000 software engineers.
Image: Sunlight’s Founding Team: Julian Chesterfield (CEO, upper right), Paul Brennan (executive Chairman, upper left) and Kosten Metreweli (Chief Strategy Officer, lower middle), SORCE: BOSCH