TEDCO backs micro data center startup Flexnode
The Maryland Technology Development Corporation invested an undisclosed amount in flexible knot, a Bethesda, Maryland-based startup building micro data centers to tap into emerging demand for Internet of Things devices and 5G mobile technology. The investment came through TEDCO’s Gap Investment Fund, established in 2017 to help startups that aren’t ready to seek venture capital investments.
“Flexnode provides a unique modular system that could change the way entire data centers work,” said Miner JackChief Investment Officer of TEDCO.
Flexnode CEO Andrew Lindsey said his company’s technology “allows organizations to efficiently distribute their digital infrastructure, while delivering critical data closer to the edge with a fraction of the physical and environmental footprint.”
Third bet in October
Earlier this month, TEDCO invested in Tuzmo and CoolTech. Based in Gaithersburg, Tuzmo created an e-commerce app to connect travelers with authentic artisans and artisans. Baltimore-based CoolTech is developing new therapies for migraine and other pain disorders.
TEDCO’s portfolio companies have since 1998 generated more than 10,000 jobs and had an estimated economic impact of $2.3 billion. His holding companies have also contributed more than $100 million in direct state and local revenue.
TEDCO runs seven different programs to boost entrepreneurship across the state. These are Venture Capital Funds, Seed Investment Funds, Federal Programs, Maryland Innovation Initiative Fund, Maryland Stem Cell Research Fund, Rural Business Innovation Initiative Fund and
Social Impact Fund. His recent investments include Givhero, The Black Brain Trust, QuoLab, Safe Check, SkySquad, AudioOne, SharpRank, Alirtify
For the past two years, TEDCO has been led by Executive Director and CEO Troy Le Maile-Stovalla 25-year veteran with experience in investment management, higher education, telecommunications, information technology and management consulting.
Focus on performance
Flexnode, founded in early 2021, is betting on a future in which 5G technologies and billions of Internet of Things devices place high performance demands, such as low latency and higher speeds, on data centers. It develops modular, liquid-cooled micro data center (MDC) systems that can provide fast, on-demand access to a variety of computing needs. These MDCs range in size from 19-inch racks to 40-foot containers and can be deployed in areas where a traditional data center would be impractical. In terms of business models, Flexnode creates various offers, including a turnkey Data-Center-as-a-Service (DCaaS).
Andrew Lindsey, in addition to being CEO of Flexnode, is Director of Applied Research and Development at Alpha, a multidisciplinary design and build consulting firm in the Washington, DC area. He has expertise in challenges in media, health, education and, more recently, the built environment.
Co-founder of Flexnode Robert Mazer is a lawyer by training and was a serial entrepreneur with notable experience in space and telecommunications. His past projects include Apio Systems, Assure Space and Smart City Works. He also sits on the board of several energy-focused startups.