Cloudstreet secures EUR2.6m in 2nd round financing

Mobile Internet company Cloudstreet has secured its second venture capital funding round with principle investors VersoVentures and Finesco Capital, along with a grant from the EU´s Horizon 2020 SME Instrument, Phase 2, the company said.

The public funding grant of EUR1.6m from the EU, along with earlier public grants, brings this combined public/private round to EUR2.6m and total Cloudstreet investments to date to EUR3.2m.

These investments allow Cloudstreet to continue work with its patented core technology, the Dynamic Profile Controllerâ„¢ (DPCâ„¢), which provides the modular, scalable, software-defined solution needed to address connectivity requirement of multiple customer segments with assured quality of experience.

Founded in 2010, Cloudstreet is a cloud-based service platform for telecom operators, combining business and network layer technologies to provide SLA-assured bandwidth-on-demand. Aligned with the principles of net-neutrality, Cloudstreet directly addresses the need for operators to manage the delivery of customer-oriented, application-aware quality-of-service within their networks, while ensuring an open and equal access Internet.