$5M Infusion to Boost Notre Dame-Connected Tech Company
SOUTH BEND and NEW YORK –
A Big Data technology and software company with a presence in South Bend is planning to grow following a $5 million round of funding. Emu Technology, which has offices at the IDEA Center at the University of Notre Dame’s Innovation Park and in New York City, says it plans to scale up product development and add six positions. The company focuses on what it describes as data intensive, real-time Big Data analytics and currently has five full-time developers in South Bend, along with two of its founders, Peter Kogge and Jay Brockman.
The team of investors includes IrishAngels Inc., a Chicago-based investment group focused on funding for startups connected to the Notre Dame community, Samsung Ventures Investment Corp. of South Korea and Virginia-based Blu Ventures Inc..
Emu Technology Chief Operating Officer Martin Deneroff says “Emu will use this funding to accelerate availability and tuning of critical software, including Open MP, Python and Caffe, through investment of our own resources and by making Emu systems available to algorithm, middleware and application developers,” said Martin Deneroff, Chief Operating Officer Emu Technology. “At the same time, we will fund our next generation hardware development initiative focused on large system scaling coupled with deployable low energy designs. Beginning immediately, we are investing in a significant ramp in software and hardware developer hiring in in New York City, New York and in South Bend, Indiana.”
Last year, it received a nearly $3.5 million round of funding led by IrishAngels and Blu Ventures, which helped launch design, manufacturing and marketing of the company’s Emu Chick and Emu1 Memory Server products.
Source: Inside INdiana Business, By Dan McGowan, Senior Writer/Reporter