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Information Week

Despite the tough economic times, flash storage drive vendor Fusion-io, which recently hired Apple co-founder Steve Wozniak as its chief scientist, has a received an additional $47.5 million in private funding.In addition, technology industry veteran David Bradford was named chief executive, replacing Don Basile, who recently left the post. No reason has been given for Basile’s departure and the company did not mention the former CEO in the release announcing the new funding and Bradford’s appointment.

The second round of funding was led by new investor Lightspeed Venture Partners. The firm joins other Fusion-io investors New Enterprise Associates,Dell ( Dell) Ventures, and Sumitomo Ventures.The additional funding indicates investor confidence in Fusion-io, despite the economic recession. Venture firms in general have been cautious in funding startups, and the first quarter of this year is expected to see a year-over-year drop in venture investment, according to The Wall Street Journal.

I remain a fan of the Fusion-io platform, they provide an interesting solution for providing the network and san down one connection. That we have several options and opportunities has to be a good thing for the industry and the end user community.

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