Accuris Networks, an Ireland-based convergence, roaming and interworking service, has received $15m in funding from Ulster Bank Diageo Venture Fund and the China Ireland Growth Technology Fund.
Ulster Bank Diageo Venture Fund, which is managed by the venture capital unit of financial services firm Investec and backed by drinks producer Diageo, was established under the Enterprise Ireland Seed and Venture Capital programme in 2008 and invests in Ireland-based companies.
The China Ireland Growth Technology Fund targets fast growing technology companies with a presence or strategic interest in Ireland or China. It is managed by Summit Bridge Capital, a growth technology fund managed in turn by private equity firms Atlantic Bridge Capital, which is an existing investor in Accuris, and WestSummit Capital.
Accuris has also announced the appointment of Jeff Brown, formerly the chief executive of US-based mobile technology provider Kineto Wireless, as CEO in a bid to broaden the company’s presence in North America.
The funding will be allocated to the development of Accuris’ AccuROAM service, and to scale the business globally. Accuris is particularly interested in expanding into Japan, China and other Asian markets.