Storage startup Cereva Networks Inc. folded Monday after taking over US$160 million in funding and failing to release a product.
The company, which Network World named one of its "10 Start-ups to Watch" in 2001, was making a monolithic storage array for service providers and enterprise-size businesses that would rival EMC's Symmetrix and Hitachi's Lightning series boxes. Cereva was originally expected to reveal its plans last June, but a series of postponements and reorganizations of its management team delayed it.
Cereva was known to be working on the Cereva 5000, a fault-tolerant, massively scalable array.
The company was one of those companies that the Enterprise Storage Group classified as "utility-class" storage - a box that is capable of being subdivided, provisioned and managed for multiple customers or departments.
Zambeel and 3PAR, two other companies whose storage gear falls in this class, released their products in the last month.
Founded in 1998, Cereva received funding from some of the luminaries of the venture capital community -- Matrix Partners, North Bridge Venture Partners, Oak Investment Partners and Goldman Sachs.
Calls to the company were unanswered.