Orange Digital Ventures leads €22m funding in InterCloud

Orange Digital Ventures leads €22m funding round in InterCloud

15 January 2020 | Natalie Bannerman

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Orange Digital Ventures (ODV) has joined the investment fund for InterCloud bolstering its goal of becoming a leader in European cloud interconnection.

The €22 million financing round for InterCloud sees ODV alongside three new investors, Open CNP, UL Invest and Weber Invest, as well as its historical investors that are renewing their financing in the company - CapHorn Invest, Ventech, Hi Inov, SNCF Digital Ventures and BPI France.

"InterCloud's unique strategic vision confirms the scale of future developments in the convergence of Telecom, IT and security in the era of open and automated software solutions,” said Etienne Moreau, investment manager at Orange Digital Ventures. “The quality of execution and service of the teams involved in this project makes InterCloud the European leader and a future international player that cannot be ignored and a pioneer."

As leaders of the financing round, ODV hopes to partner in the international growth of European digital champions such as InterCloud. As a result, Orange adds a new player to its innovation ecosystem and will support the company in its technological and commercial expansion.

On InterCloud’s end, the company will benefit from a strengthen market position in Europe as well as the acceleration of new services.

"We are delighted to welcome new partners, thanks to which we will be able to accelerate our commercial deployment in Europe, building on our recent successes to conquer the entire continent,” added Jérôme Dilouya, CEO of InterCloud.

InterCloud is a fully-managed software-defined cloud applications interconnection provider with global enterprises to deploy resources in a multi-cloud environment.

In related news, Orange is rumoured to have selected BNP Paribas and Morgan Stanley to advise on a proposed initial public offering (IPO) of its Middle East and Africa business.