Concurrent Thinking spins out, raises 1.5M USD

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Concurrent Thinking, a UK-based HPC company, has announced that it has spun out of its parent company and secured a round of initial funding to help with the change

Concurrent Thinking Ltd today announced that it had spun out its cluster appliance business into a new company. The new company will exploit technology that was conceived and sold by Streamline Computing Ltd, the UK’s leading integrator of High Performance Computing (HPC) systems. Over the last 18 months, this technology has been deployed at more than 40 of Streamline’s customers in the UK.

The spin-out follows the successful completion of a syndicated funding round of over £1M, which included original shareholders as well as a new investor, Carbon Trust Investment Partners. The funds will be used to grow the business internationally as well as reach a larger market within HPC and more mainstream computing sectors. A particular focus will be placed on exploiting the company’s technology for holistic energy management within data-centre environments.

The investment by the Carbon Trust, and independent not-for-profit in the UK that makes investments designed to “accelerate the move to a low carbon economy”, reflects the energy-management focus of Concurrent Thinking in its systems deployments and product development.

Congrats to the HPC ecosystem’s newest entrant!