Net AI, an Edinburgh, Scotland-based network intelligence company using AI to improve the efficiency and profitability for 5G network providers, raised $1 million in pre-seed funding.
The round was led by Techstart Ventures, with participation from Nauta Capital, Founders Factory, Old College Capital, and Edinburgh Technology Fund.
The company will use the funding to expand its team, accelerate its product development and market introduction, and protect company IP.
Company: Net AI Tech Ltd
Raised: $1.0M
Round: pre-Seed
Funding Month: November 2021
Lead Investors: Techstart Ventures
Additional Investors: Nauta Capital, Founders Factory, Old College Capital, and Edinburgh Technology Fund
Company Website: https://netai.tech/
Software Category: AI cloud-native platform
About the Company: Founded by CEO Paul Patras as a spin-out from The University of Edinburgh, Net AI has developed Microscope technology – that uses AI and cloud computing to give real-time insights into network demand – to give 5G telecom providers the chance to analyze traffic and thus determine where to allocate computing power. Net AI is revolutionizing cloud-based virtual network management, helping Telecom companies generate significantly higher profit margins by reducing their CAPEX/OPEX/TCO. The company currently employs a team of 8 people.
Source: https://www.finsmes.com/2021/11/net-ai-raises-1m-in-pre-seed-funding.html