Monday, May 16, 2022

Canberra software startup Instaclustr is acquired by Nasdaq-listed US tech giant NetApp

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ANU Vice Chancellor Professor Brian Schmidt said NetApp’s acquisition of Instaclustr “transforms a local company into a global giant”.

“Today’s news is huge for ANU, it’s huge for Canberra, it’s huge for Australia and it’s huge for every university in our country. Above all, it’s huge for Instaclustr,” he said.

“The acquisition of Instaclustr, which started with a few bright ideas in a co-working space on the ANU campus, by one of the world’s leading software companies shows how our universities today are creating the jobs, products and industries of tomorrow.

“This is exactly the kind of innovation that ANU aims to deliver for Australia and the world and something we deliver day in and day out.”

Professor Schmidt said ANU was one of the first universities in the world to establish a VC fund.

“ANU Connect Ventures supported Instaclustr from day one and led the first few investment rounds in Instaclustr. Our willingness to invest first has allowed other investors to support our judgment and invest alongside us.

“The return for the university from this investment will now form the basis for our new activities for the coming years.”

OIF Ventures partner Jerry Stesel said: “Having supported the founders and team through the Seed phase, it has been an incredible journey to see them flawlessly execute their vision of being a global leading technology company.”

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