NaaS startup, backed by investors Legend Capital, SIG, and Northern Light VC, gets a boost in funding, according to sources.
36Kr reports recent funding information about Chinese cloud network enterprise services company, AgotoZ (观脉科技), according to their sources. As of September 2019, AgotoZ received RMB 250 million in its Series B+ funding round, with investing from lead investor, Legend Capital (君联资本), as well as SIG (海纳亚洲创投基金), and Northern Light VC (北极光创投).
CTO of AgotoZ, Miao Quan (苗权), has extensive experience in this field and prior to founding AgotoZ, was a researcher at Tsinghua University’s CDN Research Center. Miao thinks that with the proliferation of 5G technology, NaaS services will see an increase in demand and will further accelerate in development, which places NaaS businesses in a good position to monetize on this.
CEO of AgotoZ, Li Zhengze (李铮则) expressed after the funding round that his company will invest even more in R&D of 5G technological applications, including the recruitment of highly skilled professionals, core technological development, and better customer services. For instance, AgotoZ has already created an expert network in Silicon Valley to provide technical advice and support.
With regards to this funding round, Legend Capital expressed that the innovations of today must be seen in the context of worldwide globalization. The new era of 5G will impact the entire world’s networking demand by raising the standards, thereby meeting their requirements for investments.
What is software-defined WAN (Wide-Area Network) or SD-WAN?
WAN is a data network used for connecting many computers over a large geographic area. SD-WAN is a specific application of software-defined networking (SDN) technology to WAN connections.
In short, SD-WAN connects enterprise networks over large geographic areas and has recently been a quickly developing technology within enterprise services.
US-based Cisco Systems is one particularly large NaaS provider in the NaaS market at the moment and hence a large global competitor for such a startup like AgotoZ.