Articles for July 2014

Incelligent Secures Pre-seed Funding for its Wireless Broadband Network Management System

Operators of wireless/mobile broadband networks (WMBNs) all face one fundamental problem: costs are increasing faster than revenues. The demand for traffic is growing more than ever before, while at the same time it is highly variable in time and space. High capital expenditure is needed to accommodate that traffic and increasing operational expenditure to manage a network of surging complexity, while there is increasing excess capacity in many parts of the system, which results in waste of energy and operating costs. The founding team of Incelligent, an Athens-based startup, has developed a management system for WBMNs to address this problem.

Some automated solutions already exist for self-organizing networks (SONs), but they cannot respond in real time and with the needed reliability to actual conditions, especially since complexity continues to increase. Incelligent goes further, combining existing edge technologies with knowledge, in order to reach faster, automated, predictive and more reliable decisions with respect to the allocation of resources (e.g., power, spectrum), selection of cells and radio access technologies. It converts legacy and emerging WMBNs to intelligent, automated, agile, cost- and energy-efficient systems. It is real-time, i.e. it will act dynamically, during the system operation, and it is knowledge-based because it exploits acquired contextual data and previously made decisions, in order to instantly match the best possible solutions to situations, which are encountered.

Among the founders of Incelligent, Dr. Kostas Tsagkaris and Dr. Serafim Kotrotsos, who combine a strong research background with business experience in the telecommunication software industry, expressed their enthusiasm for the collaboration with Openfund. Openfund will invest €80 thousand in pre-seed capital to support the team as they build and validate a functional prototype. We are very excited with the prospect that this company can become a leading-edge technology provider to the telecoms industry worldwide.


Discoveroom Raises €300k to Become The Tool of Choice for Small Lodging Owners

There is still a broad strip of the accommodation industry that largely remains untapped by the web, in an era when online travel agencies dominate hotel bookings, while marketplaces provide access to private houses.

Hundreds of thousands of lodgings, bnbs, inns or rooms to let -however they are called- are servicing millions of guests worldwide, despite being stuck with legacy tools, that make it hard for them to get discovered and hard to manage. To give an example, in Greece alone there are about 40 thousand “rooms to let” facilities. Most of them do not have an online booking option, as a result of managing their reservations on paper ledgers or raw excel files.

Discoveroom comes to change the scene and help this sector flourish. With a mobile app for reservations management that has been built from day one with small lodging owners in mind, it provides a solid basis to make lodgings’ operations efficient, for owners and guests alike.

The first version of the app for iOS and Android was released a couple of months ago, and is already being used by hundreds of lodgings, mostly in Greece, but also in geographies as disparate as South Africa, Malaysia and Alaska. What follows in the product roadmap is channel management and a internet booking engine, along with a consumer website aggregating lodging room inventories.

Since receiving a preseed investment of €100k last October, Nikos Anagnostou, the founder, has been instrumental in building a great team and a product that works. On the basis of the above, we are excited to announce we proceeded to a seed investment of €300k, to enable Discoveroom to grow and give this special part of the accommodation industry the attention it deserves.