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Business

Converge’s Uy joins Axiado board

Richmond Mercurio - The Philippine Star
Convergeâs Uy joins Axiado board
Converge ICT Solutions Inc.
Converge / Released

MANILA, Philippines — Converge ICT Solutions Inc. co-founder and CEO Dennis Anthony Uy has joined the board of Silicon Valley-based start-up Axiado Corp. after leading a recent funding round.

The AI-driven hardware security company said Uy’s “vision on building strong technology foundations for nationwide infrastructures and his strategic investments in leading-edge innovation have led to the successful introduction of new technologies in the Philippines, including full-fiber optic networks, fiber-to-the-building solutions, and minimally-invasive micro-trenching installations.”

Axiado was able to close an oversubscribed Series B funding at $25 million.

The round was led by Uy and Series A investor Orbit Venture Partners.

It was supplemented by a group of individual investors, including Infinera founder Dave Welch, and chairman emeritus of New Enterprise Associates and general partner of Green Bay Ventures Dick Kramlich.

“This Series B funding reflects the support from our investors and customers, and it provides Axiado with the runway to launch the TCU (Trusted Control/Compute Unit) in the market to address the growing problem of ransomware and cyberattacks,” said Welch, Axiado’s chairman of the board.

Welch said Axiado’s TCU is a new category of processors dedicated for security, and a novel, silicon-based approach to manage critical boot- and run-time security across the entire connected infrastructure.

“Axiado’s TCU is a key part of the strong technological foundation that will make data centers in Philippines safer and more resilient as we build gateways from the United States to an interconnected Asia,” Uy said.

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