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.