From Silicon Republic.com - 21st Sep 2012

Limerick-based cloud tech start-up company 'Cloudium Systems' has raised €2m in venture capital funding from a syndicate of investors that includes AIB Seed Capital Fund.

The company's products provide HD quality media experiences over the generally available cloud and broadband infrastructure network, on low-cost devices.

They are an export-focused company with customers in the US and Europe and has signed deals with key players in the virtual desktop space.

CEO, John Hickey said:

"This new funding allows us to grow our sales and marketing team in Dublin and to continue to invest in R&D in Limerick."

Three venture capital firms invested in the company; the lead investor, Delta Partners, investing from its Delta Equity Fund III; ACT Venture Capital investing from its AIB Start-up Accelerator Fund; and Enterprise Equity Venture Capital investing from the AIB Seed Capital Fund. 

As part of the investment, Dermot Berkery from Delta Partners has joined the board of the company.

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