[Asia Economy Reporter Choi Dae-yeol] Hanwha Impact announced on the 5th that it has invested in Catalog Technologies, a next-generation data storage technology company. Founded in 2016 in Boston, Massachusetts, USA by CEO Park Hyun-joon, the company is developing large-scale data storage and analysis services using DNA-based technology with inkjet printer methods.
According to Hanwha, on the 30th of last month, Hanwha Impact participated as the lead investor (largest investor in Series B) in Catalog Tech's Series B funding round, which raised $35 million. The DNA-based technology developed and provided by Catalog Tech is gaining attention as next-generation data storage and utilization technology. It is highly praised for its superior storage density and stability compared to existing methods.
According to the company, DNA-based data storage technology achieves a storage density 1 billion times higher than the traditional tape method. It can preserve data for over 100 years, which is more than three times better than tape methods, and its power consumption is over 100 million times lower. This is why it is regarded as a next-generation technology that overcomes the limitations of existing data storage devices. DNA-based data storage technology stores information using the four DNA nucleotides?adenine, thymine, cytosine, and guanine?and reads the sequences to restore data.
Hanwha Impact explained, "The company has significantly improved the cost and speed of DNA-based data storage with its proprietary technology, and commercialization is expected to be accelerated." They added, "The goal is to safely store and analyze data that was previously discarded or unused, maximizing data utilization and innovating economic efficiency."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
