€6.8m for cloud-native 5G OpenRAN developer
Accelleran in Antwerp, Belgium, has raised €6.8m for global expansion for its 5G software-defined OpenRAN technology.
The Series B round was led by Cogito Capital Partners with early stage Belgian university investor Qbic and existing investors Capital-E and AAAF.
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.
Antwerp-based Accelleran develops a software-defined OpenRAN architecture for operators of private, public, and neutral-host 5G networks. Accelleran’s dRAX delivers containerized software components to enable real-world deployment of multi-vendor, intelligent, and disaggregated OpenRAN using open standards such as the O-RAN Alliance. These cloud-native components are scalable for 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.”
“Through this Series B funding, we are pleased to support Accelleran’s further development, and look forward to working with them as they address the huge market opportunity around disaggregated RAN,” said Sofie Baeten, Managing Partner at Qbic.
Qbic is an early-stage and sector-agnostic, inter university fund that invests in spin-offs and is managed by an independent team of experts in investments and management. With around €100m in resources, Qbic is one of the largest spin-off funds in Europe. Qbic I started in 2012 and allocated all its resources to 18 ventures. Qbic II is now in its final investment year and has so far built a portfolio of 16 investments.
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