Swedish teltech startup Telness Tech has raised €8.5 million in Series A funding. The investment was led by Stockholm-based VC, Industrifonden along with participation from the existing investor, JCE Group.
Series A round
This new round of investment will be used to expand Telness Tech to new markets, starting with the Netherlands and the UK. The startup will continue to revolutionise the European telecoms market through integrated solutions for telcos.
Martina Klingvall, founder of Telness Tech said, “We’re incredibly excited to have such fantastic investors on board as we continue to grow Telness Tech across Europe. Our platform has already started to transform how services are delivered to end customers – putting customer service first, and raising the bar for what people should expect from a mobile provider. Over the next year we’ll be laser focussed on investing more into the team and making some key strategic hires, plus our expansion into other European markets.”
“We’re beyond delighted to invest in Telness Tech, enabling them to take their industry challenging ethos further into the market. We’ve no doubt that with their talented team, the right investment and clear aspirations Telness Tech will continue to grow into new markets across Europe at a rapid rate,” said Tore Tolke, Senior Investment Director Industrifonden.
Spin-off from Telness
Telecommunications is one of those fundamental industries. However, it is also one of the slowest to innovate and digitise. Telness Tech aims to disrupt the same by offering a cloud-based infrastructure that businesses can use to increase customer happiness and lower operational expenditure.
Founded in 2021 by telecoms executive turned female entrepreneur, Martina Klingvall, Telness Tech was spun out of the Swedish telecoms provider Telness. The company is set out to transform the industry by offering cloud-based infrastructure to businesses.
The emerging teltech startup is transforming the telecoms sector through customer-centric cloud solutions. Telness Tech provides the infrastructure, experience, and expertise telecoms companies need to go digital and revolutionise the consumer experience. With this startup, telecoms companies remove complexity and reduce costs making it easier for them to focus on making a difference to customers.
Eyes to disrupt telecoms market
In a market traditionally lacking in innovation, Telness Tech is seeking to disrupt the telecoms market in the same way that fintech changed the face of finance.
To date, Telness Tech has collaborated with three large telecoms customers to deliver sweeping technological change, including two of which have launched a cloud PBX across their platform.
Already, the platform is used by Telness to deliver telecoms services to well over 15,000 business customers in Sweden, packages up a cloud-based, digital end-to-end solution that liberates traditional telcos from legacy infrastructure, cost, and complexity. Alongside, its cloud-based PBX enables telcos to keep up with the innovation and pace of challenger brands at a low total cost of ownership.