Wasabi Secures $70M in New Equity to Power Next-Generation Data Infrastructure

Wasabi Technologies, a hot cloud storage company, has raised $70 million in a new equity funding round led by L2 Point Management, with participation from Pure Storage and existing investors. The funding values Wasabi at $1.8 billion and will be used to accelerate expansion into AI infrastructure, broaden its global footprint, and enhance its product portfolio. The company's momentum reflects accelerating AI-driven data growth and shifting industry demands.