Cloud Solutions Provider gridscale announces €7 Million Series A Funding

from 13.03.2019

Cologne, Germany, March 13, 2019 - 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.”

About gridscale
gridscale (www.gridscale.io) is a European IaaS and PaaS provider, creating sophisticated cloud solutions on top of its innovative technology. The company, headquartered in Cologne, Germany, offers future and digitally oriented users a highly automated solution in which they can flexibly choose between a multitude of Infrastructure-as-a-Service components and complementary Platform-as-a-Service elements. Crisp Research awarded the company as one of the innovators in cloud computing.

With its innovative technology, gridscale raises cloud computing to a new level - intelligent components of the gridscale cloud connect seamlessly with all other IT resources and extend the existing infrastructure. The required cloud resources are available to users in real time and can be easily integrated into the existing company and system processes, thanks to the intuitive user interface. This enables gridscale customers to focus on their core competencies instead of having to deal with the operation of their cloud infrastructure, while still maintaining an overview at all times thanks to transparent processing and per-minute billing at gridscale.

About Endeit Capital
Endeit Capital (www.endeit.com) was founded in 2006 and has invested in approximately 30 Internet scale-ups. The focus is on European companies in the areas of B2B/B2C SaaS and marketplaces. With offices in Amsterdam (NL) and Hamburg (DE), Endeit Capital has invested in 6 European countries: Germany, Austria, Switzerland, the UK, the Netherlands and Belgium.

About EnBW New Ventures
EnBW New Ventures GmbH (www.env.vc) invests venture capital in innovative young companies with new business models and technologies that drive the converging markets for energy, mobility and urban living. The focus is on entrepreneurial teams that realize added value for their customers with scalable business models and new technologies. With an investment volume of 100 million euros, EnBW New Ventures offers start-ups access to professional investor expertise and a customer and supplier network in the energy market. In addition, commercial cooperation with the parent company EnBW is possible.

Press Contact
PIABO PR GmbH
Johanna Schwinghammer
gridscale@piabo.net
+49 30 257 620 5270

Endeit Capital
Wendy Horlings
wendy@endeit.com
+31 20 794 7777

EnBW New Ventures
Communications
Martina Evers
presse@enbw.com
+49 721 63-14358

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