NGD Systems

The company's core business revolved around the design and manufacturing of Computational Storage Drives (CSDs), specifically a line of NVMe solid-state drives (SSDs) called the Newport platform. These drives integrated processing capabilities, using ARM cores and a proprietary ASIC, to perform tasks such as AI, machine learning, and advanced analytics directly on the drive. This "In-Situ Processing" technology was designed to significantly decrease latency and power consumption for data-intensive applications by eliminating the need to transfer large datasets to a host CPU or GPU. The products were offered in various standard form factors, including U.2, M.2, and EDSFF, with capacities reaching up to 32TB, making them power-efficient solutions for hyperscale data centers, content delivery networks, and edge computing environments.

NGD Systems operated on a B2B model, targeting server OEMs, white box vendors, and large enterprises with massive data workloads, such as Booking.com. Revenue was generated from the sale of these specialized SSDs. The company offered distinct product platforms: a high-capacity storage device and an intelligent storage device, with the computational features enabled or disabled based on customer purchase. Over its lifetime, NGD Systems raised a total of approximately $45 million through several funding rounds, including a $20 million Series C in 2020 led by MIG Capital with participation from Western Digital Capital. However, the company faced significant challenges, leading to the departure of all three founders in March 2022. The company is now considered deadpooled.