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Funding for startups

Kernel Capital Invests in Amartus

CORK, Ireland -- Kernel Capital through the Bank of Ireland Seed and Early Stage Equity Fund has led a €1.2m investment in Dublin-based Amartus Limited ("Amartus"), a developer of next-generation service delivery solutions for the telecommunications industry. The syndicated investment comprises a €500k investment by Kernel Capital with the remainder of the funds provided by an Angel technology investment syndicate, Enterprise Ireland and Company promoters.

The Communication and IT Service Provider market is experiencing unprecedented change as consumers demand shifts to dynamic, pay-per-use, elastic services. This change is being fueled by the rapid convergence of IT, Communications and Network services in the 'Cloud'. To succeed in this new world Service Providers need a level of automation not possible with current 'closed', 'hardwired' management systems. Amartus' innovative technology enables Service Providers to rapidly transform their operations by fully automating the rollout and delivery of services to customer and partners.

"Automation is critical for the delivery of telecommunications network services and Amartus has developed a rapid response solution for fast, dynamic, on demand service activation and operations, which is exactly what network operator's need. The result is faster roll-out and shorter time to service. Kernel Capital is delighted to support Amartus in developing new opportunities for their Dynamic Modelling based system products." said Dr. Daniel McCaughan, CTO, Kernel Capital.

V-Kernel Corp.

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