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SANchips Switches Gears
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byteandswitch.com
September 09, 2004
When SANchips first surfaced last spring, executives tried pitching storage companies and investors a switch-on-a-chip that would reduce cost and time-to-market for Fibre Channel switches (see SANchips Vows to Lower Switch Prices).
After coming up short on funding and failing to land an OEM deal, SANchips re-engineered its product. Now its developing a switch aimed at SMBs that its CEO still says will lower the cost of a SAN switch to below $100 per port.
That part about SMBs is key: SANchips has lowered its sights. Instead of competing head-to-head with the major switch vendors, it's targeting the market for smaller organizations.
“After six months on the road, we realized the industry needs something different,” says CEO Avi Shillo.
Shillo said last April that he was looking for $5 million in a series A funding round. SANchips ended up with $3 million from StageOne Venture Partners -- an Israeli VC which put up $600,000 in seed money last year -- and Paris-based Convergent Technologies Partners. That’s enough to at least get its first product out the door, Shillo says.
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