Monday February 17, 2020

Maginatics raises $17m in new funding round

A Californian tech firm that is backed by Dublin funder Atlantic Bridge Ventures has raised $17 million in fresh funding as it hopes to break into the Chinese market.

24th August, 2013
Dermot Desmond: backing Maginatics' move into China. Photo: PA

A Californian tech firm that is backed by Dublin funder Atlantic Bridge Ventures has raised $17 million in fresh funding as it hopes to break into the Chinese market.

Atlantic Bridge, the venture capital firm backed by businessmen Dermot Desmond and Denis O'Brien, participated in the fundraising round at Maginatics, a storage software firm.

The deal closed last week and has seen a number of new investors, including Intel Capital, inject funds into the firm.

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