Success Story: Exotanium
The pandemic could have ended Exotanium’s ambitions before it even got off the ground—the cloud-optimization startup was in the midst of fundraising when COVID-19 hit—however, as businesses moved their operations online and demand for cloud software systems skyrocketed, the UNY I-Corps and National I-Corps Teams alumni raised $1 million.
Exotanium’s “X-Spot” technology allows businesses to effectively navigate the spot market to harness low prices when temporary spot servers become available, saving businesses up to 90% on cloud application server fees—a huge advantage for a company in a market estimated to be worth $26 billion by 2024.
The startup’s upward trajectory continues with a move to larger offices at Cornell’s Praxis Center for Venture Development and workforce expansion. It also launched a pilot with Autodesk, Inc. to test Exotanium’s concept for cloud back-end optimization.