Vates raises €30 million to accelerate virtualization platform

Vates has announced its first funding round, raising €30 million from IRIS and Bpifrance to accelerate its virtualization platform and international expansion.

• The company says the money will mainly fund technology development for the next generation of its platform, including performance, storage, security, automation, and large-scale virtualization infrastructures for new AI workloads.
• Vates also plans to expand North America and major European markets, grow its partner ecosystem, and hire more staff; it says the round leaves the co-founders as majority shareholders and that XCP-ng and Xen Orchestra remain open source under the same licenses.