Kernel Capital through the Bank of Ireland Seed and Early Stage Equity Fund has led a €1.2 million investment in Dublin-based Amartus, a developer of service delivery solutions for the telecommunications industry. The syndicated investment comprises a €500,000 investment by Kernel Capital with the remainder of the funds provided by an Angel technology investment syndicate, Enterprise Ireland and Company promoters.
Amartus will use the funds to market, sell and expand the capabilities of its Chameleon OS Service Delivery platform.
"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.
Michael Kearns, CEO, Amartus said: "We are in a very exciting market that is undergoing a major transformation, we have unique technology to address the changing needs of this market and now with the support from Kernel Capital and our other Investors we are poised to become a leading solutions vendor in this market."
Amartus’ clients include Cisco, ECI Telecom and Transition Networks.
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