Cloud Solutions Provider gridscale Announces €7 Million Series A Funding

Endeit Capital and EnBW New Ventures lead the round
Existing investors EnjoyVenture and High-Tech Gründerfonds also participate
Investment will strengthen gridscale’s technology platform and enable further international expansion

gridscale, the Cologne-based provider of innovative Infrastructure-as-a-Service and Platform-as-a-Service solutions (IaaS, PaaS), has raised €7 million growth capital in its Series A financing round. The round is lead by Endeit Capital and EnBW New Ventures, with additional participation from existing investors EnjoyVenture (BLSW Seed- & Wachstumsfonds) and High-Tech Gründerfonds. The investment will support further platform development and underpin gridscale’s global expansion.

gridscale enables customers to easily create, implement and manage complex hosting and infrastructure projects. It does this through unrivalled automated real-time scaling of independent cloud infrastructure with per-minute billing. This enables high-profile German customers such as Controlware, KOMSA, Butlers and Karlsruher Verkehrsbetriebe to only pay for the IaaS and PaaS resources they really need and solely for the specific time required.

The new funding will enable gridscale to expand its range of PaaS applications and additional services – especially for indirect sales channels. Its intelligent intuitive white label solutions are already used by IT system houses and agencies. gridscale successfully addresses the specific needs of these partners, offering them the opportunity to become reliable and state-of-the-art cloud providers themselves.

“We greatly believe in the potential of the gridscale team and their technology. gridscale brings innovative impulses to the fast-growing $50 billion IaaS & PaaS global cloud market,” says Martijn Hamann, Partner at Endeit Capital. “We are proud to be part of gridscale’s growth story and to be able to support them in brand positioning and international expansion.” Holger Wagner, Senior Investment Manager at EnBW New Ventures adds: “The team combines technical expertise, market knowledge and a feel for the specific requirements of their customers. We are looking forward to being part of this development.”

Henrik Hasenkamp, co-founder and CEO of gridscale, is delighted to announce the successful conclusion of the financing round: “In the end, it’s always about people working together. Endeit Capital and EnBW New Ventures stood out from the crowd of VCs who showed equal interest in the technology and the team – a perfect match with our existing shareholders. With the support of Endeit Capital and EnBW New Ventures, we will be able to accelerate our growth significantly and release a variety of new products and services simultaneously. We want to further establish ourselves as a secure, scalable and reliable cloud service provider, especially in other parts of Europe.”