The O.H.I.O. Fund, a private fund investment adviser focused on generating strong returns for its investors while increasing Ohio’s economic growth and momentum, announced its investment in Folio Photonics, a data storage disc manufacturer located in Solon, Ohio.Folio has developed what it describes as the first-ever enterprise-scale, immutable active data archive solution that delivers breakthrough cost, margin, and sustainability benefits compared to traditional storage models. The Folio Disc recently finished beta testing with plans to start manufacturing the disc in Solon.

Once it’s launched, Folio expects its disc technology will be the most cost-effective solution to archive storage, costing $3 per terabyte compared to $20 for a hard-disk drive or $10 for magnetic tape. Based on testing, the Folio Disc is expected to last 100 years, which is 1,900% longer than the five-year lifespan of a typical hard-disk drive or magnetic tape.

The funds’ investment was co-led by Material Impact, alongside investments from JumpStart Ventures, Pavey Investments, Refinery Ventures, and the JobsOhio Ventures Fund.

“We’re excited to invest in Folio Photonics as they bring a highly innovative storage solution to market from right here in Ohio,” said Mark Kvamme, CEO, The O.H.I.O. Fund. “As demand for secure, cost-effective, and sustainable storage continues to grow, Folio is well-positioned to scale its manufacturing footprint in Ohio and strengthen the state’s role as a hub for advanced technology and next-gen manufacturing.”

The data storage market is experiencing an unprecedented boom driven by AI, cloud computing, and IoT, with storage volume doubling roughly every four years, according to IDC. The investment will support Folio’s plans to acquire a warehouse to start manufacturing the disc in Solon, Ohio, on a large scale to combat the driving need for more data storage. The planned facility would expand advanced manufacturing and technology in Northeast Ohio.

“I’ve seen firsthand what it takes to scale transformative technologies,” said Steven Santamaria, CEO, Folio Photonics. “Coming back to Ohio to apply that experience at Folio is deeply personal for me, because it gives me the chance to contribute to my home state’s future while helping drive economic growth and innovation in northeast Ohio.”