DTCP Leads $6m Series A Funding Round in Cloud Infrastructure Company RtBrick
DTCP acts as lead investor in RtBrick, alongside Swisscom Ventures. RtBrick offers cutting edge and patented networking infrastructure service. The investment is made through the Telekom Innovation Pool (TIP) fund, which DTCP manages on behalf of Deutsche Telekom. TIP focuses on investments with significant strategic impact for Deutsche Telekom.
Hamburg, Germany, 23rd October 2018 - DTCP today announced that it is leading a $6 million Series A Funding Round in RtBrick, a cloud infrastructure start-up. The funding will be used to grow RtBrick's sales in Europe and the US. The investment will also help to increase the company’s engineering workforce in its Indian development center. Dr. Till Stenzel, Vice President at DTCP, will join RtBrick's Board of Directors.
“Network and datacenter operators alike require a software solution that gives them full control and visibility, without lengthy release and update cycles as in the case of current established vendors,” said Till Stenzel. “The Management Board of RtBrick has assembled an impressive engineering team that has developed a complete software stack and targeted microservices for the large and fast-growing market for cloud infrastructure networking software. We are excited to partner with RtBrick and be part of their growth story.”
"Strengthening our presence in Europe and with plans to expand in US markets, DTCP and Swisscom Ventures are ideal partners as we execute on our plan to scale our business globally," said Pravin Bhandarkar, CEO of RtBrick. "We're excited to have new partners on board who not only provide us with capital but also have vast strategic experience in our target markets to drive RtBrick's growth."
“RtBrick has a promising potential for cloud-based networking. Their technology gives us a competitive edge by enabling us to introduce new network services much faster and at reasonable costs” said Walter Goldenits, CTO of Telekom Deutschland GmbH. “RtBrick’s Cloud Networking Infrastructure Stack is a cornerstone of our ‘Access 4.0’ blueprint which will fundamentally change how we build and operate networks in 2020 and beyond.”
Bangalore-based RtBrick is a networking infrastructure software vendor led by technology entrepreneurs and a team of data networking experts. Founded in 2015, RtBrick has built a full value delivery system for network infrastructure operators. Its offerings include an operating system for driving bare metal network switches, a multi-tenant continuous integration release platform and a fully integrated cloud-based network visibility, analytics and management system.
For more information, visit www.rtbrick.com
DTCP is an investment management group with c. $1.6 billion assets under management and advisory from Deutsche Telekom and other institutional investors, and a portfolio of over 60 companies. The group is dedicated to providing venture and growth capital, special situation investments, and advisory services to the technology, media and telecommunication sectors. It operates and invests in Europe, the US and Israel. To learn more about DTCP, visit https://www.telekom-capital.com or @TelekomCapital on Twitter.
About Swisscom Ventures
Swisscom Ventures is the venture capital arm of the Swisscom Group, the leading telecommunications and IT company in Switzerland. Since its inception in 2007, Swisscom has acquired minority stakes in over 50 companies with a strong focus on digital media, IT and telecommunications. Swisscom Ventures offices are located in the innovation hubs of Switzerland (Zurich and Lausanne) and the USA (Silicon Valley). As a strategic investor, we invest in companies that are strategically relevant to the Swisscom business. In return, we offer entrepreneurs access to telecommunications expertise, technical infrastructure and marketing channels – in addition to financial support. For more information https://www.swisscom.ch/en/ventures/about.html
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