gridscale, a Cologne, Germany-based provider of innovative Infrastructure-as-a-Service and Platform-as-a-Service solutions (IaaS, PaaS), raised €7m in Series A financing.
The round was led by Endeit Capital and EnBW New Ventures, with participation from existing investors EnjoyVenture (BLSW Seed- & Wachstumsfonds) and High-Tech Gründerfonds.
The company intends to use the funds for further platform development and global expansion.
Led by Henrik Hasenkamp, co-founder and CEO, gridscale enables customers to create, implement and manage complex hosting and infrastructure projects. It does this through automated real-time scaling of independent cloud infrastructure with per-minute billing. This enables German customers such as Controlware, KOMSA, Butlers and Karlsruher Verkehrsbetriebe to only pay for the IaaS and PaaS resources they really need and solely for the specific time required.
The funding will enable the company to expand its range of PaaS applications and additional services – especially for indirect sales channels. Its white label solutions are already used by IT system houses and agencies.