The Series A round was led by Andorra Telecom, accompanied by GoHub Ventures, and with the contribution of the Institut Valencià de Finances (IVF).
This round will allow the Valencian startup to continue internationalizing its software, grow in market share, and position itself as one of the major technology players in the telecommunications sector with a SaaS that applies Big Data and Artificial Intelligence to the management of mobile networks.
Valencia, June 24, 2024. Kenmei, based in Valencia, has closed a Series A funding round worth four million euros. The round, led by Andorra Telecom and accompanied by GoHub Ventures, with the contribution of the Institut Valencià de Finances (IVF), will help the startup position itself as one of the major tech companies in the market.
Kenmei, with more than 80 employees, strengthens its shareholder base and business plan in the telco sector, where massive data analysis solutions with Artificial Intelligence are needed to reduce energy consumption, improve network efficiency, and automate the management and analysis processes of deployed networks worldwide.
Vicent Soler, CEO of Kenmei, stated that this round “materializes the trust of one of the most avant-garde telecommunications operators in Europe, such as Andorra Telecom, and an investor like GoHub Ventures, which has supported us since our inception, along with the support of the IVF.”
For Soler, this round will serve to “accelerate product development and increase market presence internationally, where Kenmei is characterized by its high component in innovation and technology in a very dynamic and competitive market.”
The company has a presence on three continents with more than a dozen clients and will achieve a market share of over 10% globally, positioning it as one of the global leaders in data analytics for telco.
AI for Data Management and Analysis in Telco and Defense
The Valencian startup, founded in 2018 by Vicent Soler, Javier Grau, and Javier López, offers a SaaS called ADELE® based on Big Data and Multi-Cloud technologies capable of processing billions of connections and data from mobile networks. This data is processed by proprietary AI algorithms that automate the management, planning, and optimization processes of the networks.
Additionally, the solution is being implemented in the defense sector by various governments and entities with different use cases generated through the use and interpretation of mobile network data management.
Support for 5G Stand Alone Networks and Generative AI
The company is developing integrations of telco solutions based on Generative AI, which allows the user to interact with the data and operate the mobile network remotely and easily through major messaging and conversational applications.
Moreover, the support for newly deployed 5G Stand Alone networks allows Kenmei to provide technological solutions in the sector that address both current and future challenges.
Andorra Telecom, Strategic Investor for Series A
Andorra Telecom has joined a company that already counts among its shareholders companies in the sector such as Telefónica (through Wayra) and MasOrange, and investment funds such as Bewater Funds and R2.
“Becoming shareholders of Kenmei is a significant step in our diversification strategy. Being part of its shareholding provides us with a unique opportunity to strengthen our presence in the field of AI and telecommunications,” said Jordi Nadal, CEO of Andorra Telecom.
For Inés Calabuig, Managing Partner of GoHub Ventures, who continues to support the company through this round, “Kenmei is proof that we have invested in cutting-edge, usable technology from the beginning. We are convinced that this round in a capital-efficient company with positive EBITDA is the necessary boost to lead the market.”
The IVF participates in this funding round with a loan operation under the IVF Subordinated Loan Line, co-financed with European resources from the FEDER 2021-2027 Program. Through this financing line, the IVF injects liquidity into innovative companies seeking to carry out expansion, growth, or consolidation projects, as is the case with Kenmei.
Since its founding, Kenmei has positioned itself as a significant player within the telco ecosystem with important agreements with a large percentage of global tech leaders who have included its solution in their marketplaces. It also has numerous awards such as the Emprendedor XXI from La Caixa and the Empresa del Año from CEEI, or various ENISA projects as an innovative company.
About Kenmei
Founded in Valencia in 2018, Kenmei specializes in data analysis and operations over telecommunications networks. Its ADELE® platform features a Big Data and Multi-Cloud architecture capable of managing a massive amount of telecommunications network data, on which Artificial Intelligence (AI) algorithms are applied to automate network management and analysis processes. It also includes Gen-AI modules that allow managing data through conversations and natural language.
About Andorra Telecom
About GoHub Ventures
About the Institut Valencià de Finances
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