24 Sep '18
Brain4Net, a Russian developer of solutions in the field of software defined networks (SDN/NFV), earlier this year raised $2.5m in a funding round from a consortium of domestic investors.
The consortium included Commit Capital, a VC fund 100% owned by Rostelecom, the national telecom operator, and another venture fund, Typhoon Digital Development. That funding round increased Rostelecom’s shareholding in B4N Group from 18.04% to 26.08%, raising the networks developer’s valuation to almost $18m.
In March 2016, Commit Capital supported the development of Brain4Net with an initial $1.5m.
“The investment raised will be used to extend our list of hardware supported by our software, including low-end devices and gadgets manufactured in Russia. On top of that, we will focus on the development of new services and their integration with third-party solutions. We expect the continuous extension of our product line and upgrades in functionality to enable us to turn the current pilot projects in Russia into full-fledged commercial ones, and use the experience we have gained for international market operations,” said Maksim Kaminsky, the co-founder and CEO of Brain4Net.