MD moves to US to kickstart market presence

After reporting a $13 million injection of venture capital funds, Australian startup Platypus Technology - developer of a range of RAM-based solid state drives - has announced the company's MD will relocate temporarily to the US to oversee the creation of a larger presence both there and in the European market.

Colin Lillywhite, Platypus Technology managing director, will move to the US "taking the headquarters with him" sometime in the next two months. All R&D activity will remain in Australia.

Lillywhite said Platypus was chosen for the funding by US based private equity investment firm The Carlyle Group, and an Asian fund managed by Jafco Investment (Asia Pacific), due to the product set emerging from the company.

"From the R&D we've done over the last year our product set has a high probability of success and high leverage aimed at the computer server market," Lillywhite said.

He also predicts that the company's technology will be inside most servers in the next 18 months to two years.

John Dyson, Australian general manager, Jafco Investment, said Platypus received the funding for a number of reasons, firstly because it has an excellent management team.

"It has a great product, and I think it is going to build a great business," Dyson said.

According to Lillywhite, 120 trial sites are running in Australia. Major companies trialling Platypus include the Australian Defence Force, Boeing Australia, government departments and some corporate banks.

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