Net AI Raises £750,000 to Reduce Cost and Carbon Footprint of 5G Telecom Providers

On a mission to enable mobile network management to run on autopilot in the cloud, Net AI receives the backing of leading investors including Techstart and Nauta

EDINBURGH: 16h NOVEMBER 2021 – Net AI, the Edinburgh-based startup using AI to improve the efficiency and profitability for 5G network providers, has raised £750,000 in pre-seed funding.

The round was led by Techstart Ventures, with Nauta Capital, Creator Fund, Old College Capital, and Edinburgh Technology Fund also participating. 

Net AI, a spin-out from The University of Edinburgh, will use the funding to expand its team, accelerate its product development and market introduction, and protect company IP.

Using AI and cloud computing technologies, Net AI’s Microscope technology gives 5G providers real-time insights into network demand on a service-by-service level. Currently, the hardware and software required to process raw data at different points in a network is both expensive and inaccurate. Net AI analyses this network data and breaks it down into the various applications they encompass, allowing operators to determine where to allocate their computing power. In doing so, Net AI enables service providers to unlock the potential of data, increase their profit margins, and meet the needs of consumers while reducing their carbon footprints. 

The range of insights Net AI delivers to telecoms include an accurate breakdown of network demand, which can inform operators of service usage at any location at any time, and how the traffic consumption of these services will evolve in the future. 

It is predicted that the global network automation market will be worth more than £20 billion by 2024. 

“We live in a world with an insatiable appetite for data”, comments Dr Paul Patras, CEO and co-founder of Net AI. “With Microscope’s AI and cloud-based technology, we are offering an alternative route to future 5G services: one that is cheaper, more efficient and better for the planet. We welcome the support of Techstart Ventures and our other investors who will enable us to grow our team, develop our technology, and ultimately reach more network providers.

“This funding is just the beginning in terms of the opportunities for us to partner with mobile network operators and telcom Original Equipment Manufacturers (OEMs), and to provide early access to our AI-driven traffic decomposition engine to those who are interested. It’s also a vital opportunity to showcase the potential of our vision and a crucial step towards putting mobile network management on autopilot in the cloud.”

Pratima Aiyagari, Venture Partner, Nauta Capital, comments:

“We are very excited to add Net AI to our Nauta Labs investment portfolio. Their one-of-a-kind AI technology builds on years of research conducted at one of Europe’s top computer science research centers and is the first to perform traffic decomposition via deep learning, which enables large-scale classification of traffic streams in real- or near real-time. This will be a game changer for the management of tomorrow’s cloud-based virtualized mobile networks. It fits well with our focus on backing deep tech European companies at the pre seed stage with our Nauta Labs initiative.”

Nigel Stephenson, Director of Market Development EMEA, Service Provider and Edge BU at VMware, the Silicon Valley-based world-leading cloud technology company, adds:

“The O-RAN initiative sets out to create standard interfaces and enable a vibrant landscape of innovation where intelligence is a key piece. Net AI’s Microscope technology fits perfectly into this framework, as it gives granular insights into service-wise resource demand, which enables MNOs to determine where to best place network functions and compute units, to meet service requirements in a cost-effective way.”

About Net AI 

Net AI is a spin-out company from the University of Edinburgh, founded in 2020 by Dr Paul Patras. The company employs a team of 8 people. As a pioneering network intelligence company, Net AI aims to become the market leader in analysing traffic across 5G mobile networks, revolutionizing the management of software-based mobile infrastructure and enabling mobile network operators (MNOs) to meet stringent customer requirements in a cost-effective manner.

About Techstart Ventures

Techstart Ventures is a leading pre-seed and seed stage venture capital firm that provides foundational capital for extraordinary founding teams who are attacking uncapped global opportunities. Techstart Ventures LLP manages the Scottish Growth Scheme – Techstart Ventures Equity Finance LP Fund which has been financed with support from the Scottish Government.

For international media enquiries please contact Nara Communications

Alicia Baines 

+447500 945025

[email protected]