Diablo Technologies Inc., a fabless chip company that supplies memory controllers and interconnect devices for memory subsystems based on NAND flash solid-state storage, has announced it has closed a $28 million funding round. The money will be used to complete its Memory Channel Storage (MCS) technology platform, the company said.

When launched MCS will enable improvements in transaction processing and data analysis within servers, enterprise datacenters and cloud computing facilities, Diablo (Ottawa, Ontario) said. Diablo was founded in 2002 and raised $15 million in a Series B round of funding in 2008.

The latest funding round was led by Battery Ventures and included additional financing from Celtic House Venture Partners, BDC Venture Capital, and Hasso Plattner Ventures.

"Over the past two years Diablo Technologies has developed an innovative memory channel-based solid-state storage platform," said Riccardo Badalone, founder and CEO, in a statement. "With this equity funding we are accelerating the completion of a system solution including hardware, software and a chip-set that will deliver breakthroughs in system performance and flash storage density for analytic data processing, web-page serving, cloud computing and other server-based enterprise computing applications."

"We believe Diablo Technologies has the technology and creativity to usher in the next phase of innovation in NAND-flash storage," said Scott Tobin, a general partner at Battery Ventures, in the same statement.