Accelleran, a global leader in 4G/5G Cloud-Native OpenRAN platforms, raises Series B financing to accelerate its growth in support of roll out of 5G networks worldwide
ANTWERP, Belgium, May 5, 2021 /PRNewswire/ -- Accelleran, a leading provider of OpenRAN software solutions for 4G/5G networks announced a EUR 6,8M Series B funding round led by Cogito Capital Partners, with participation of Qbic, and existing investors Capital-E and AAAF. The funding will be used by the company to fuel its global expansion.
As 5G network deployments accelerate across the globe and the OpenRAN system of standards gathers momentum, service providers from mobile operators, to edge computing infrastructure providers, to system integrators are turning to Accelleran's proven 4G/5G RAN cloud-native software. 5G networks provide an enhanced broadband experience with speeds of up to 1 Gbps and latency of 10ms, as well as a platform for cloud and AI-based services. The global 5G services market is expected to exceed US$250 Bn by 2027, according to Acumen Research.
Belgium-based Accelleran provides OpenRAN Software solutions for operators of 5G networks. With Accelleran's unique software architecture, clients unlock the true potential of software-defined networks, network virtualization, and RAN intelligence to better manage private, public, and neutral-host networks. Accelleran's dRAX™ delivers proven containerized software components to enable real-world deployment of multi-vendor, intelligent, and disaggregated OpenRAN, in alignment with the open standards such as the O-RAN Alliance. These Cloud-Native components deliver reliable, cost-effective, and scalable solutions for both 4G and 5G networks, including artificial intelligence-based automation.
"From its inception, Accelleran has been a pioneer in applying cloud-based virtualization software architectures to mobile telecom, what is now commonly known as Open or Virtual RAN," said Frederic van Durme, CEO of Accelleran. "The new financial backing and domain expertise of Cogito and Qbic, and the continued support of Capital-E and AAAF, will allow us to realize our mission to become a global, independent provider of mission critical software components for the RAN."
"We are excited about Accelleran's prospects and impressed with the quality and scalability of the platform they've developed," said Martin Jasinski, Cogito's General Partner. "We are strong believers in the future of OpenRAN-based, private 5G networks and see Accelleran as one of the emerging global leaders in a market that is about to enter a hypergrowth phase."
"Through this Series B funding, we are pleased to support Accelleran's further development, and look forward to working with them as they address the huge market opportunity around disaggregated RAN," said Sofie Baeten, Managing Partner at Qbic.
"We look forward to continuing to support Accelleran, together with new investors, in building out key go-to-market partnerships, with particular focus on the US and European markets," said Marc Wachsmuth, Managing Partner at Capital-E.
About Accelleran
Founded in 2013 and headquartered in Antwerp, Belgium, Accelleran provides disruptive software, solutions and services for Open 4G and 5G RAN and vRAN. The company's unique approach supports genuine cloud-native deployment of RAN software components on the edge, in the cloud or embedded in the RRU. Accelleran's commitment to openness enables multi-vendor radio deployments and delivers open RAN data for AI-enabled network algorithms. With a strong track record as the cellular industry's leading RAN design, test and integration team, Accelleran is the natural choice for carrier-grade, reliable, portable and performant Radio Access Network Solutions and Services across multiple markets such as Private Networks, Fixed Wireless, Public Mobile, Neutral Host and IoT. For further information about Accelleran, please visit our website www.accelleran.com .
About Cogito Capital
Cogito Capital Partners is a venture and growth capital firm based in Warsaw, Poland and New York, USA. Cogito invests in late-stage B2B tech companies predominantly operating in CEE and other European countries, but with global expansion potential. Cogito focuses primarily on enterprise software, fintech/insurtech & digital health sectors, partnering with entrepreneurs seeking investors with CEE regional presence and global reach.
For further information about Cogito, please visit our website cogitocap.com.
About Qbic
Qbic is an early-stage and sector-agnostic, inter university fund that invests in spin-offs and in young innovative ventures with a technology link to the Qbic associated universities and knowledge centers. Qbic is managed by an independent team of experts in investments and management. With around € 100 million in resources, Qbic is one of the largest spin-off funds in Europe. Qbic I started in 2012 and allocated all its resources to 18 ventures. Qbic II is now in its final investment year and has so far built a portfolio of 16 investments.
About Capital-E
Capital-E is an early-stage venture fund focused exclusively on semiconductors & system software related ventures in Europe. With over 100 m € of assets under management, the funds are led by an independent team with expertise in electronics and a balanced mix of entrepreneurial, industrial and VC experience. More information can be obtained at www.capital-e.com.
About AAAF
The Ark Angels Activator Fund NV (AAAF) is an ARKIV fund in the ARKimedes scheme of the Flemish investment company PMV. The shareholders of the fund are PMV, ING Belgium and 57 business angels, members of BAN Flanders. The fund has 14.8 million euros under management and has invested, together with business angels and other co-investors, in Flemish SMEs in their start-up, growth or transformation phases (www.aaafund.be).
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