MIMIK TECHNOLOGY ANNOUNCES PIER 88-LED US$14.3 MILLION SERIES A FUNDING ROUND

KUALA LUMPUR, Nov 5 (Bernama) -- mimik Technology Inc, a pioneer in hybrid edge cloud technology and business solutions has announced a US$14.3 million Series A funding round led by Pier 88 Investment Partners, a San Francisco-based alternative investment management firm. (US$1 = RM4.158)

Other participants include Cathie Wood, Founder, CIO and CEO of ARK Invest and member of the mimik Board of Directors, along with existing investors Primera Capital and NLabs.

mimik plans to use the funds to expand its global go-to-market operations including sales, solutions delivery, developer outreach, technical training, and partnership development.

“The mimik platform offers a strong foundation to build sustainable edge cloud services to help accelerate digital transformation and power the hyper-connected digital economy,” said mimik Founder and CEO Fay Arjomandi in a statement.

Meanwhile, Pier 88 Investment Partners Founder and CEO, Frank Timons said: “mimik’s technology lead and seasoned executive team position the company to capitalise on the next wave of growth for the computing industry as its nuanced device microservice architecture enhances security and privacy while reducing costs of traditional cloud computing solutions.”

mimik’s hybrid edgeCloud platform transforms cloud applications from a fixed client-server architecture—where server functionality is limited to servers in data centres and gateways—to a fully distributed architecture, enabling billions of smart client devices to act as servers and delivering nearly endless scalability.

The mimik platform enables heterogeneous applications, processes, and devices to autonomously communicate in clusters on the edge regardless of their operating system or network.

Because data is processed at the edge, mimik’s platform requires significantly less bandwidth and power, reduces cloud hosting costs, is more resilient than traditional client-server architecture, and offers much higher levels of data privacy and security.

For more information, visit: https://mimik.com.

-- BERNAMA