Cloudstreet, a Kuortaneenkatu, Finland-based Nokia spin-off specialized in delivering SLA-assured mobile Internet connectivity on-demand, raised a €2.6m in funding.
The round included:
– a vc funding round of €1.6m from VersoVentures and Finesco Capital, and
– a €1.6M public funding grant from the EU’s Horizon 2020 SME Instrument, Phase 2.
Along with earlier public grants, the company has raised €3.2M in total.
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 for services such as streaming HD Video-on-Demand, data-intensive apps, and the Internet-of-Things.
Aligned with the principles of net-neutrality, the company’s Dynamic Profile Controller™ (DPC™) identifies the precise data need for each mobile-internet connected device or application on-the-fly and enables instant and fully-automated network optimization to serve each end-user’s precise data requirements at any particular moment, without affecting other users’ connections.
Cloudstreet is led by Mika Skarp, Founder & CTO, and Tero Auvinen, CEO.