December 12, 2016

Cloudstreet closes EUR 2.6 million funding round

These investments come at an ideal time for Cloudstreet's market-ready technology, as telecom looks to agile innovators to help deliver on the promise of 5G.
These investments come at an ideal time for Cloudstreet's market-ready technology, as telecom looks to agile innovators to help deliver on the promise of 5G.
cloudstreet

Nokia spin-off specialised in delivering SLA-assured mobile Internet connectivity on-demand looks to go global.

This is the second VC funding round for the Finnish company, with principle investors VersoVentures and Finesco Capital together investing one million euros. The company also received a 1.6 million-euro grant from the EU’s Horizon 2020 SME Instrument, Phase 2. This brings the total amount of funding acquired thus far by Cloudstreet to 3.2 million euros.

“We are thrilled to have been recognised by these investors and a world-leading market force like the EU in our pursuit of a better, faster, smarter and more user-centric mobile network,” says Mika Skarp, founder & CTO of Cloudstreet. “Now past proof-of-concept, Cloudstreet is today poised to deliver on the promise of 5G well in advance of its arrival.”

The company’s market-ready patented core technology, the Dynamic Profile Controller is a modular, scalable, software-defined solution that successfully addresses the connectivity requirements of multiple customer segments.

 

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