Filo Systems raises $4M Seed round

Asparna investment notification

6/18/20231 min read

Tel Aviv, Israel. Upstart company Filo Systems, a subsidiary of Asparna venture studio, has closed a Seed round of $4M USD from Awz X-Seed on May 17th, 2023. This venture round was aimed at completing an initial Minimal Viable Product, engaging in initial Pilot programs and initiating Sales.

Filo Systems has a breakthrough Data Compression Engine, capable of creating denser data footprints in a lossless way. Depending on specific data being compressed, Filo may reduce data by a compression factor of X2 (two times) to compression factors of X10 (ten times) or more.

Filo is aimed to completely change the economics of data - when stored at data-centers, and when transferred over networks. As such, Filo can have dramatic effects on network costs; on storage costs; and can dramatically improve the user experience and time to value for customers and edge clients.