NovaSparks, a provider of data packet processing solutions, has secured series A financing of USD2m from venture capital firm Partech.
Partech invests in technology and internet firms, including Business Objects, DailyMotion, Informatica and Digitick.
Jean-Marc Patouillaud, partner at Partech, joined the NovaSparks board of directors earlier this year.
NovaSparks offers sub-microsecond latency. Its technology is designed to dramatically reduce the latency involved in market data ticker plant and packet distribution. It increases processing speeds for the latency-sensitive high frequency traders of investment banks, hedge funds and proprietary trading firms.
“We are very excited to be involved with NovaSparks at a time when the demand for its market data ticker plant continues to grow,” says Patouillaud. “We have every confidence that NovaSparks end-to-end ultra-low latency solutions today and future innovations will be successful. Our investment is aimed at accelerating the product development pace and strengthening the commercial development, especially in the US.”
“We are very pleased with the market recognition and adoption of our products and technology,” says NovaSparks’chief executive Eric Le Rolland. "The investment and assistance of Partech will enable us to accelerate our global commercial development plans.”
