Brain4Net raises $2.5 million in investment
Brain4Net, a resident startup of the Skolkovo Foundation’s IT cluster that provides solutions for service providers, has raised $2.5 million in investment.
The company provides solutions based on its B4N service platform, and helps service providers and large enterprises to adapt modern network technologies within existing multi-vendor network infrastructure.
Brain4Net has raised investment from the venture fund Commit Capital (a daughter structure of Russian telephony provider Rostelecom), and Typhoon Digital Development, which manages a portfolio of assets worth a total of more than 10 million dollars, the Skolkovo startup said in a statement.
“The funding will be used to expand the list of supported hardware devices, including inexpensive devices and those made in Russia,” said Maxim Kaminsky, co-founder and CEO of Brain4Net.
“In addition, we will focus on developing new services and on integration with solutions made by other producers. As a result of expanding our equipment line and constantly improving the capabilities of our platform, we plan to turn current pilot projects in Russia into commercial use, and apply the expertise we have accumulated to work on foreign markets. In particular, we plan to successfully complete pilot projects of a solution for modernising Rostelecom’s regional data transfer network, and move on to its commercial introduction into the operator’s network,” said Kaminsky.
Last year, the LETA Capital venture fund invested $1 million in Brain4Net. In 2016, LETA and CommIT Capital invested $1.75 million in the IT startup in exchange for 20.3 percent in the company.
Brain4Net was included on the list of the 20 Most Promising Virtualization Solution Providers 2016 by the U.S. tech magazine CIOReview. The magazine’s managing editor said the Russian startup had been featured “for its range of revolutionary solutions that are setting a new benchmark in the virtualization arena.”