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."