Kenmei closes a €1.5M round with the addition of MASventures and Wayra as strategic investors
The Valencia-based company, in which GoHub Ventures and R2 Seed Investments hold a stake, bolsters its position in the global market
Kenmei Technologies, a Valencia-based company specialized in data analysis and mobile network automation through artificial intelligence, has closed a Series A funding round to raise €1.5 million led by GoHub Ventures, a Global Omnium investment vehicle that was already a shareholder, who has been joined by MASventures, an accelerator of the MASMOVIL GROUP and Wayra, Telefónica’s open innovation hub. The new transaction is a continuation of the one completed in August 2019, which raised €1 million.
Founded by telecommunications and software experts, Kenmei Technologies is focused on the telecommunications field and provides network data analysis through the use of artificial intelligence (AI) algorithms, allowing wireless telecommunications providers to automate part of their network operations.
Vicent Soler, CEO and co-founder of Kenmei Technologies, explained that “the addition of strategic partners such as MASventures and Wayra, as well as the trust placed in us by GoHub Ventures in the form of additional shares, is a sign of our company’s strong appeal from a technological and business perspective. Kenmei is extremely motivated to undertake this new stage as we continue to expand our market leadership.”
Its ADELE® solution, which stands for Autonomous Decisions and Learning, is a platform that was developed natively on big data architecture and features advanced AI algorithms for automating network processes. It is also a multi-cloud solution that supports many data sources and implements an advanced data model that allows clients to evolve in their digital transformation towards a data-driven business model.
The inflow of capital at Kenmei Technologies will be used to speed up and consolidate the development of the ADELE® solution by integrating new 5G use cases. It will also make it possible to strengthen the company’s international sales structure to accelerate its growth.
Kenmei Technologies received the 2020 CEEI IVACE Business Creation Award and the COIT-CV Award for the Best New Company at the Night of Valencian Telecommunications.
GoHub Ventures, a strategic investment vehicle
GoHub, Global Omnium’s open innovation hub and corporate venturing vehicle, conducts strategic investments through GoHub Ventures that executes direct startup investments with A-series digital transformation solutions to bring new digital business models and core capabilities closer in a reduced time-to-market. GoHub Ventures, in its overall strategy of supporting startups, has already invested thirteen million euros.
The Global Omnium Group and GoAigua
Chaired by Eugenio Calabuig, it was founded in Valencia 130 years ago, and today is present in more than 400 cities in Spain, where it manages the integral water cycle, working together with public administrations. Having considerably expanded internationally with GoAigua and Idrica, the company has now earned a presence on 4 continents and has more than 7 million customers. Global Omnium is a benchmark in the utility sector and is among the top 5 in the world.