ITU ventures invests in Simulant start-up

Pasadena 06 December 2000 ITU Ventures, a venture capital firm that specifically focuses on financing businesses emerging from the nation's leading graduate universities, announced a seed investment in Simulant, Inc. Simulant has developed and is currently in beta release of a scalable distributed computing platform applicable to a broad class of both scientific and non-scientific problems. Simulant's distributed computing platform allows networked clusters of inexpensive personal computers to combine and duplicate the computational power of costly, high-performance supercomputers.

Simulant's proprietary technology provides linear scaling across an unlimited number of commodity computers, providing companies with the ability to solve complex design and simulation problems at a fraction of the time and cost that is associated with current solutions.

Simulant's first product provides distributed computation of optical device simulation, which is currently in use at multiple Caltech laboratories and at an optical component start-up founded by industry leaders.

"Increasingly, industries are using complex scientific simulations for product development, not only to cut costs and save time, but to gain a competitive advantage. Our distributed computing solution is already leveraging low-cost computers to provide computational horsepower for Caltech's top optical research laboratory. The solution allows the engineer or scientist to virtually fabricate and test an entire optical device, which provides a substantial advantage over any other method," said Michael Hochberg, Co-Founder of Simulant.

"We're very excited to be working with ITU. Their business development services will prove to be invaluable for the rapid growth of Simulant," said Adam Lawton, Chief Operating Officer of Simulant.

"Distributed computing is an important new paradigm. Simulant has great working technology that provides a scalable distributed platform for real-world applications. Their proven distributed computing technology is far ahead of the curve in this space," said Adam Winnick, Co-Founder and Managing Partner of ITU Ventures.

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