Live: 300+ Best Black Friday Deals Live: Black Friday TV Deals BF Deals Under $25 BF Deals Under $50 5 BF Splurges 8 BF Must-Haves 15 Weird Amazon BF Deals BF Cheat Sheet
Want CNET to notify you of price drops and the latest stories?
No, thank you

Xiotech nabs $40 million in funding

Steve Luczo, Seagate Technology's chairman, leads the round of funding.

Xiotech announced Tuesday it received $40 million in a funding round, led by Steve Luczo, Seagate Technology's chairman.

Xiotech, a data storage company, will use proceeds from the investment round to bring so-called advanced storage architecture technology it acquired from Seagate to market. Xiotech also announced that Luczo will sit on its board of directors.