3nets concludes $11m seed round for multi-cloud workload portability solution
3nets.io, a Delaware corporation, announced the conclusion of $11 million seed round at a post-money valuation of $20 million. The investment round was led by Taiwania Capital, which invests in cutting-edge technology and biotech companies that present an opportunity to make a tremendous positive impact on businesses and human lives.
3nets is engaged in developing a software-defined, applications-aware elastic network infrastructure platform that serves the application delivery needs of business enterprises. The platform leverages cloud computing infrastructure and public/private networks to deliver the applications at a multi-cloud scale. The funding will allow the company to continue to develop and release its 3nets platform, which advances cloud adoption of business enterprises.
Abraham Pucheril, President and CEO, 3nets.io: "The cloud journey is only in its infancy. Enterprises are adopting the cloud faster, thanks to the flexibility and compelling business cases offered by major cloud service providers (CSPs) such as Amazon AWS, Microsoft Azure, Google GCP, IBM Cloud, and Oracle OCI. CSPs are continuing to differentiate themselves and are introducing new capabilities. However, the enterprises' ability to tap into different CSPs is hampered by the complexities of operating in multiple cloud infrastructures. Further, the next wave of applications would require leveraging edge cloud computing capabilities and core cloud computing services offered by CSPs. This points to the need for an edge-inclusive, multi-cloud platform that rapidly federates these infrastructures to adapt to the next generation of business IT applications efficiently."
The 3nets platform enables rapid adoption of multi-cloud distributed applications to accelerate digital transformation by simplifying networking and application operations. This is accomplished by federating cloud service providers, private/edge data centers, and colocation facilities onto a single intelligent data plane, which interacts with the application-aware framework.