Fintech PR

IP Fabric announces $25m Series B funding to accelerate adoption of network assurance

Published

1 year ago

June 29, 2023

One Peak investment will advance the ubiquity of network assurance, helping organizations to reduce network complexity, assure network automation, and improve network security

NEW YORK, June 29, 2023 /PRNewswire/ — IP Fabric, the market leader in automated network assurance, today announced that it has closed a $25m Series B funding round led by One Peak with the participation of Senovo and Presto Ventures. This will fuel IP Fabric’s mission of making network assurance ubiquitous so that people, businesses, and governments can operate without the exponential risk of network failures or outages.

IP Fabric is a pioneer in network assurance, helping organizations to overcome network complexity, assure network automation, and improve network security. Network assurance is becoming critical for managing private network infrastructure which combined globally is vastly larger than the Internet and forms the backbone of the modern economy. This infrastructure is now the foundation for every part of modern life, from our airports and factories to public utilities and financial systems.

However, rising complexity is making it much harder for humans to understand and manage networks. This makes network automation risky – automation without assurance will lead to unpredictability if organizations cannot see whether automation has had the intended effect, and that it hasn’t negatively impacted the rest of the network. Rising complexity also makes it impossible for organizations to identify and eliminate network vulnerabilities, creating multiple blind spots for attackers to potentially exploit. These challenges have created a perfect storm that is putting network resilience at risk.

“Without network assurance we are leaving network resilience to chance,” comments Pavel Bykov, CEO, IP Fabric. “We’ve seen how network outages can cause businesses and critical infrastructure to grind to a halt, but amidst rising complexity and the need to ensure control in the face of rising cyber threats while adhering to regulatory compliance, enterprises lack the means to assure operations for their entire network end-to-end. IP Fabric delivers the network assurance needed to operate without the exponential risk of network failure or outages while enabling innovation through standardized access to network control data. Organizations must act now because building operational control without a validated baseline provided by network assurance will lead to gaps and unknown unknowns which ultimately cause outages and security incidents that impact people, businesses, critical infrastructure, and governments.”

IP Fabric is an API-first platform that rapidly discovers, models and visualizes complex networks down to the wire, giving end-to-end visibility and control over an organizations’ entire network infrastructure. IP Fabric was recognized as a Gartner Cool Vendor in Network Automation and came 8^th in the Deloitte Technology Fast 50 with a CAGR of 160% over the past 4 years. Today, IP Fabric works with over a hundred enterprise customers globally, including Airbus, Air France, Major League Baseball, Red Hat, HCL Technologies, Avast and Blackberry.

“Enterprise networks are becoming increasingly complex, which makes the requirement to discover, model and visualize large networks a priority,” comments Humbert de Liedekerke, Co-founder and Managing Partner of One Peak. This is especially important, when, as Gartner has reported, only 26% of network leaders maintain accurate network data, massively hindering the effectiveness of automation initiatives for 74% of enterprises. Automation must be assured, secure and able to operate effectively in complex network environments. Enterprises can’t risk automating in the dark – networks are too important for guesswork that could expose vulnerabilities or cause outages. This is why IP Fabric’s unique ability to help enterprises understand, automate, and secure complex networks is so critical to enable the future of network automation.”

Prior seed and Series A investment rounds were conducted with Senovo, Presto Ventures, and Credo Ventures.

ABOUT IP FABRIC

IP Fabric is a powerful Intent-Based Networking technology enabling modern enterprise network operations. A vendor-neutral, API-first automated network assurance platform, IP Fabric discovers, verifies, visualizes, and documents large-scale networks holistically, reducing costs and resources while improving security and efficiency. Ensure smooth migration and transformation projects while simplifying network planning, testing, and troubleshooting. Eliminate business-impacting inefficiencies and continuously verify policy compliance with a standardized, consumable view of your multi-domain network, end to end. Accelerate and refine programmability, automation, and network analytics with accessible, accurate, and contextualized network data at your fingertips. IP Fabric helps organizations including Airbus, Air France, Major League Baseball, Red Hat, HCL Technologies, Avast, and Blackberry overcome complexity, implement effective network automation, and improve network security. For more information, visit www.ipfabric.io

ABOUT ONE PEAK

One Peak is a leading growth equity firm investing in technology companies in the scale-up phase. One Peak provides growth capital, operating expertise, and access to its extensive network to exceptional entrepreneurs, with a view to help transform innovative and rapidly growing businesses into lasting, category-defining leaders. In addition to IP Fabric, One Peak’s investments include Ardoq, Cymulate, Deepki, DocPlanner, Keepit, Lucca, Neo4j, Orgvue, Pandadoc, Spryker, and many more. To learn more, visit www.onepeak.tech

ABOUT SENOVO

Senovo is an early-stage venture capital firm based in Munich and Berlin that partners with exceptional founders building global B2B SaaS category-leaders from Europe. As European first-mover, the fund invests since 2013 into a new generation of B2B software startups which enable the digitalization of medium and large enterprises. Their focus is primarily on supporting teams working in the areas of process optimization, industry 4.0 and data-enabled solutions. Senovo joins the journey after a company has first revenues in a late Seed or Series A round. Their team of SaaS specialists seek meaningful eye-level relationships and regularly publish their learnings and thought leadership at www.medium.com/senovovc. For more information, visit: www.senovo.vc

ABOUT PRESTO VENTURES

Presto Ventures is a Prague-based investment firm focused on early-stage B2B software startups and online marketplaces led by founders from the CEE region. With over 50 portfolio companies and counting, Presto Ventures stands out as one of the region’s most dynamic venture capital firms. In 2022 alone, they successfully closed 24 new deals. Backed by entrepreneurs, family offices, and exited startup founders, Presto serves as a vital link that connects the flourishing CEE tech ecosystem with major Western markets. Besides IP Fabric, Presto’s notable investments include Cloudtalk, Ready Player Me, Woltair, Oddin, Sharry, Yieldigo, Omofox, Inventoro, Finmap, Okredo, and Zypl.ai. For more information, visit: www.prestoventures.com

View original content:https://www.prnewswire.co.uk/news-releases/ip-fabric-announces-25m-series-b-funding-to-accelerate-adoption-of-network-assurance-301866220.html

Fintech PR

China’s AIMA brand electric motorbike is now in Bangladesh

Published

5 hours ago

November 23, 2024

CISION (PR Newswire)

DHAKA, Bangladesh, Nov. 23, 2024 /PRNewswire/ — With the popularity of electric vehicles in Bangladesh, the globally renowned AIMA brand has also arrived in Bangladesh. The esteemed DX Group has brought the AIMA F-626 to customers. This environmentally friendly battery-operated electric motorbike has already been approved by the Bangladesh Road Transport Authority (BRTA) now.

In light of the increasing popularity of electric motorcycles in the country, the internationally-leading brand AIMA has entered the market. By the end of 2023, AIMA electric two-wheelers had established a presence in over 50 countries worldwide, with 11 global production bases, including overseas factories in Indonesia and Vietnam. In 2022, AIMA collaborated with Rob Janoff, the designer of the Apple logo, to refresh the brand’s VI system with a youthful and fashionable image. In 2023, AIMA teamed up with PANTONE, the global authority in color expertise, to create the trending color of the year. As an industry leader, AIMA spearheads the electric two-wheeler sector and showcases the prowess of a leading electric two-wheeler brand on a global scale. As of March 31, 2024, AIMA’s total electric two-wheeler sales had reached 80 million units, earning certification from Frost & Sullivan, a globally recognized business growth consulting firm, as the “Global Leading Electric Two-wheeler Brand”.

Over the years, AIMA has always been a product trendsetter in the electric two-wheeler sector. As of March 31, 2024, the total sales volume of AIMA electric two-wheelers reached 80 million, and Frost & Sullivan, a world-renowned market consulting company, awarded AIMA with the market status certification of the “Global Leading Electric Two-wheeler Brand (by Sales)”.

AIMA adhere to the customer-centered product philosophy and technologies that support long-term innovation and breakthroughs. We believe that the efficiency and modern technology of the AIMA F-626 will present an excellent alternative means of communication for our customers.

Photo – https://mma.prnewswire.com/media/2557788/image.jpg
Photo – https://mma.prnewswire.com/media/2565550/Image2.jpg
Logo – https://mma.prnewswire.com/media/2449955/5026987/AIMA_Technology_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/chinas-aima-brand-electric-motorbike-is-now-in-bangladesh-302314773.html

Fintech PR

China Telecom Gulf Officially Launches in Saudi Arabia for Business

Published

6 hours ago

November 23, 2024

CISION (PR Newswire)

china-telecom-gulf-officially-launches-in-saudi-arabia-for-business

HONG KONG, Nov. 23, 2024 /PRNewswire/ — On November 21, China Telecom Gulf was officially launched in Riyadh. This milestone marks a significant step in China Telecom’s efforts to provide deep services under the “Belt and Road Initiative” and to promote the building of a “China-Arab Community with a Shared Future.” It signifies another solid advancement on China Telecom’s path toward internationalization. Mr. Liu Guiqing, Executive Director and EVP of China Telecom Corporation, delivered an opening speech, along with Mr. Fawaz, Representative of Contact Office of Chinese Companies in the KSA, Deputy General Manager of Industrial and Commercial Bank of China Riyadh Branch. Over 100 guests and leaders from the Economic and Commercial Office of Embassy of the PRC of the KSA, Saudi Telecom Company (STC), Bank of China, Huawei, and others attended to witness this momentous occasion.

In his address, Mr. Liu Guiqing emphasized China Telecom’s commitment to openness, cooperation, and mutual benefit. He expressed the company’s willingness to share its experiences in cloud-network integration, cloud transformation, intelligent operations, and technological innovation. China Telecom aims to work closely with various levels of Saudi governments, enterprises, and partners to actively participate in the development of local digital infrastructure, drive the rapid advancement of next-generation information technologies, and establish a robust bridge for cooperation between China and Saudi Arabia in the field of information technology. Leveraging its extensive resources and global operational capabilities, China Telecom plans to bring its strengths in 5G, cloud computing, artificial intelligence, and other fields to provide innovative, high-quality communication products and services to Saudi enterprises, institutions, and consumers.

Mr. Fawaz extended his warm congratulations on the opening of China Telecom Gulf. He highlighted that as a leading global provider of communication services, China Telecom possesses abundant cloud-network resources and mature international service capabilities. The establishment of China Telecom Gulf is a significant step toward supporting the digital transformation of businesses in the region. He expressed confidence that through joint efforts, the company will seize opportunities in the digital era and contribute to Saudi Arabia’s socio-economic development and practical cooperation between China and Saudi Arabia in various fields.

China Telecom showcased its global resources, business capabilities, and its investments and partnerships in the Middle East and Africa. Key services introduced included eSurfing Cloud, computing power solutions, quantum technology, and customized 5G networks. Currently, China Telecom operates branches in 42 countries and regions worldwide, owns 53 international submarine cables, and manages 27 self-operated Internet Data Centers (IDCs). Its cloud-network integrated infrastructure and customer-centric digital service systems provide coverage across the globe.

During the event, China Telecom Gulf signed strategic cooperation agreements with Saudi Telecom Company (STC), Huawei Saudi Arabia, and Baud Telecom Company. The parties committed to deep collaboration, leveraging their respective strengths to provide optimized and convenient digital experiences to Saudi customers.

The establishment of China Telecom’s presence in Saudi Arabia marks a major milestone in the company’s entry into the Middle Eastern communications market, representing a key development in its global strategy. Moving forward, China Telecom Gulf will leverage China Telecom’s robust digital infrastructure and resource integration capabilities. We will collaborate closely with local Saudi enterprises, Chinese businesses expanding internationally, and global companies to strengthen cooperation and enhance exchanges. The company aims to contribute to the growth of Sino-Saudi and Middle Eastern industrial cooperation, continuously offering more smart solutions for the development of the Middle East’s digital economy, while striving to become a world-class provider of digital and intelligent technology services.

Photo – https://mma.prnewswire.com/media/2566044/image_5024765_40051959.jpg

View original content:https://www.prnewswire.co.uk/news-releases/china-telecom-gulf-officially-launches-in-saudi-arabia-for-business-302314765.html

Fintech PR

Redefining Financial Frontiers: Nucleus Software Celebrates 30 Years with Synapse 2024 in Singapore

Published

21 hours ago

November 23, 2024

CISION (PR Newswire)

redefining-financial-frontiers:-nucleus-software-celebrates-30-years-with-synapse-2024-in-singapore

SINGAPORE, Nov. 23, 2024 /PRNewswire/ — The thriving India–Singapore partnership in banking and technology reached a new milestone as Nucleus Software celebrated 30 years of transformative innovation at Synapse 2024, held in Singapore. The event underscored the company’s role in redefining financial services across Southeast Asia (SEA) and the globe, bringing together leaders in finance and technology to explore a shared vision for the future of banking.

Synapse 2024 celebrated 30 years of Nucleus Software’s leadership in driving transformative change across Singapore and Southeast Asia’s financial ecosystem. The event also shone a spotlight on the Global Finance & Technology Network (GFTN), an initiative supported by the Monetary Authority of Singapore (MAS) to champion responsible technology adoption. The event highlighted the deepening synergies between India and Singapore, driven by their shared commitment to innovation, cross-border collaboration, and financial inclusion. As the financial services sector undergoes rapid evolution with advancements in artificial intelligence, blockchain, and digital banking, these partnerships are setting the stage for a more connected, resilient, and inclusive global ecosystem.

Vishnu R. Dusad, Co-founder and Managing Director of Nucleus Software, reflected on the milestone: “For over 30 years, we’ve had the privilege of aligning our journey with Singapore’s ascent as a global financial powerhouse. Back in 1994, when we chose to go East instead of West, it was a bold and emotional decision—guided by our belief in Singapore as a hub for innovation and collaboration. We saw then what remains true today: Singapore is at the heart of the global financial landscape, a place where new ideas take root, and partnerships thrive.”

The event brought together a distinguished array of participants, highlighting the transformative potential of India–Singapore collaboration. Mr. Piyush Gupta, CEO of DBS Group and the Guest of Honor, set the tone for the event with his opening remarks, emphasizing the transformative role of big tech in reimagining scalable, customer-centric financial services in the digital age.

Following his address, key speakers enriched the discussions with their insights. Mr. Sopnendu Mohanty, Chief Fintech Officer at the Monetary Authority of Singapore and Group CEO-Designate of The Global Finance & Technology Network (GFTN), underlined the importance of fostering responsible technology adoption and building inclusive financial ecosystems. Mr. Vinod Rai, globally respected public policy expert, Distinguished Visiting Research Fellow at the National University of Singapore, and former Comptroller and Auditor General of India, shared his perspectives on governance and policy frameworks in financial systems. Mr. S.M. Acharya, Chairman of Nucleus Software and former Defence Secretary of India, offered a visionary outlook on leveraging technology to modernize and secure banking frameworks. Finally, Mr. Pieter Franken, Co-founder and Director of GFTN (Japan), a global FinTech pioneer and deep tech innovator, discussed the future of decentralized finance and its implications for the financial sector.

The event showcased the transformative role of technology in global financial systems, emphasizing innovations that set benchmarks for scalability and inclusivity. Panelists discussed the importance of localized solutions, the challenges of cross-border integration, and leveraging dual business models to optimize capital and foster public participation. The dialogue highlighted the need for common standards, unified frameworks like APIs, and collaborative efforts to accelerate financial inclusion and drive global connectivity in the digital age.

For 30 years, Nucleus Software has consistently introduced advanced lending and banking solutions that support financial institutions’ evolving needs in Singapore and South East Asia. Driven by lean development methodologies like Acceptance Test-Driven Development (ATDD) and Continuous Integration/Continuous Delivery (CICD), Nucleus Software continues to push boundaries in efficient, flexible, and secure financial technology.

Photo: https://mma.prnewswire.com/media/2565374/Synapse_2024.jpg
Logo: https://mma.prnewswire.com/media/2565373/Nucleus_Software_Logo.jpg