Intel Capital and IFC Invest US$ 7.8 Million in Altobridge Growth
Published on: 28th Feb 2013
Note -- this news article is more than a year old.
Altobridge announced that Intel Capital and IFC (International Finance Corporation) have both made a follow on investment of USD7.8 million in the company.
This new investment will provide Altobridge with additional capital to accelerate the pace of roll-out of its mobile data optimisation solution, Data-at-the-Edge globally.
Data-at-the-Edge (DatE) optimises data delivery for mobile network operators. The broad spectrum of its functionality includes HTTP acceleration, in-line data and header compression, user data caching at the cell site, data traffic management and least-cost routing.
Since its Series C funding round in 2011, Altobridge has taken DatE from concept to full commercialisation, having made its first sale to Malaysia's Maxis Berhad. Meanwhile, commercial trials for urban DatE deployment are pending with unnamed network operators in the USA, Europe and North Africa.
"With some industry analysts forecasting a 13-fold increase in global mobile data traffic by 2017, wireless network infrastructures face a major challenge to keep pace with this level of demand. Managing, optimising and caching mobile data at the point closest to consumers' mobile devices is the key to alleviating backhaul pressure. DatE does precisely this, and the way in which we implement it makes it the first commercially deployed solution of its kind," said Mike Fitzgerald, Chief Executive, Altobridge.