Granatus Ventures has announced about leading the investment round in XCloud Networks.
XCloud Networks creates software defined solutions for telecom and data centers to make their network infrastructures much more efficient. They have already succeeded in minimizing network engineers’ time expenses for about 100 times, capital expenses for up to 20 times and operational expenses for up to 5 times.
CEO of XCloud Networks Alex Saroyan told Itel.am that the investment would help them expand the Armenian-based team, as well as start operation in U.S., form a team and find new partners.
“Our main goal is selling our product to U.S.-based companies with IT infrastructure, as well as provide more efficient alternative to traditional solutions, offered by Cisco, Juniper and other popular companies,” he noted.
According to Alex Saroyan, at this moment they keep the investment volume in secret, as they expect other investors in this round in addition to Granatus Ventures.
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