Cologne-based gridscale, a provider of Infrastructure-as-a-Service (IaaS) and Platform-as-a-Service solutions (PaaS), enabling customers to easily create, implement and manage complex hosting and infrastructure projects.
The startup has raised €7 million in a Series A financing round. The round was led by Endeit Capital and EnBW New Ventures, with participation from existing investors EnjoyVenture and High-Tech Gründerfonds. The new funding will enable gridscale to expand its range of PaaS applications and additional services.
Founded in 2014, gridscale offers automated, real-time scaling of independent cloud infrastructure with per-minute billing, enabling 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 only for the specific time required.
The startup’s white label solutions are already used by IT system houses and agencies, addressing the specific needs of these partners, and 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,” said 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.”
“In the end, it’s always about people working together,” said Henrik Hasenkamp, co-founder and CEO of gridscale. “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.”