mimik Completes $14.3 Million in Additional Series A Funding Led by Pier 88

mimik Completes $14.3 Million in Additional Series A Funding Led by Pier 88

mimik's hybrid edge cloud platform (edgeCloud) is expected to revolutionize microservices for applications in industries such as healthcare, automotive, manufacturing, logistics, retail and banking

SAN FRANCISCO, Nov. 04, 2021 (GLOBE NEWSWIRE) -- mimik Technology, Inc., a pioneer in hybrid edge cloud technology and business solutions, today announced the completion of a $14.3 million Series A financing round led by Pier 88 Investment Partners, an alternative investment management firm based in San Francisco. Other participants include Cathie Wood, founder and CIO and CEO of ARK Invest and mimik board member, as well as existing investors Primera Capital and Nlabs. mimik plans to use the funds to expand its global market entry operations, including sales, solution delivery, developer outreach, technical training and partnership development.

Mimik's hybrid edge cloud platform (edgeCloud) transforms cloud applications from a fixed client-server architecture (server functions are limited to servers in data centers and gateways) to a fully distributed architecture, enabling billions of smart client devices to act as servers and providing near-infinite scalability. The mimik platform enables heterogeneous applications, processes, and devices to communicate autonomously in clusters at the edge, without being restricted by their operating systems or networks. Because data is processed at the edge, mimik's platform needs to significantly reduce bandwidth and power consumption, reduce cloud hosting costs, be more resilient than traditional client-server architectures, and provide higher data privacy and security.

“We have spent nearly a decade in R&D building a platform that addresses the six biggest concerns of most developers: speed, cost, security, data privacy, interoperability and scale,” said Fay Arjomandi, founder and CEO of mimik. “The mimik platform provides a solid foundation for building sustainable edge cloud services to help accelerate digital transformation and power the hyperconnected digital economy.”

“For nearly 20 years, our team has invested in next-generation technologies such as mobile, cloud computing and cybersecurity and is excited about the compelling growth opportunities we see in edge computing,” said Frank Timons, founder and CEO of Pier 88 Investment Partners. “Mimik’s technical leadership and experienced executive team position the company to capitalize on the next wave of growth in the computing industry as its meticulous on-device microservices architecture enhances security and privacy while reducing the costs of traditional cloud computing solutions.”

“Primera Capital has funded some of the world’s most transformative technology companies over the past 20 years,” said Ori Sasson, General Partner at Primera Capital. “We invest in exceptional products with a strong vision, the right market, and courageous entrepreneurs, and mimik’s edge platform has disruptive potential and a strong leadership team that meets our key criteria.”

Siavash Alamouti, Executive Chairman of mimik, said: "We are excited to work with investment partners such as Pier88, NLabs, Primera Capital, etc. They understand the significant advantages of mimik's hybrid edge cloud platform (edgeCloud) and the huge market opportunity ahead. We are in the midst of a massive transformation across all industries. The scale of the booming hyperconnected economy will far exceed that of mobile Internet, and mimik's platform will help accelerate this technological revolution in a more sustainable way."

为推动混合边缘云计算的采用，mimik与Amazon Web Services（AWS）和IBM等领先的云公司以及Tata Elxsi等技术服务公司建立了战略合作伙伴关系。该平台已成功地用于帮助多个业绩显著的公司完成数字化转型，目前许多早期用户和合作伙伴正在使用该平台。了解有关mimik混合边缘云平台（edgeCloud）、可用的基于边缘的微服务以及数字转型服务的更多信息，请访问mimik。

About mimik

mimik provides a hybrid edge cloud computing application development platform and business enablers for digital transformation. Developers and enterprises can achieve their business goals without compromising time to market, cost, scalability, interoperability, data privacy and security, and can lock products into proprietary technology stacks. mimik supports hybrid edge native application development for an ecosystem of devices (iOS, Android, Windows, macOS, Linux, QNX, Raspbian, OpenWRT and smart IoT FreeRTOS sensors), networks, and any personal or public cloud. The mimik platform is the fastest and most direct way to connect isolated and fragmented applications from the edge with minimal reliance on relay devices. We can help companies save millions of dollars in traditional back-end integration while reducing current operating costs through edge approaches. mimik enables systematic digital transformation towards a sustainable digital economy to help companies secure business leadership in a hyper-connected world.