- hubraum, the tech incubator of Deutsche Telekom, invested in CloudStorm to support it with an outsider’s perspective and expertise in the process automation as well as the growth of the company in European markets
- CloudStorm is a Hungarian startup that makes robotic process automation (RPA) for enterprise market clients which is an essential part of any corporation’s automation strategy. The team will directly work with various business units within Deutsche Telekom and may become a coherent part of DT’s offering in the future
Currently, RPA software is an essential part of any corporate’s automation strategy. It assures efficiency and allows people and machines to coexist in a win-win type of collaboration, as they both can focus on tasks they are best at. That drives the bottom line of the business.
The futility of the CloudStorm solution lies in offering "robot as a service" in various dimensions. This is possible due to the integration of software on an enterprise scale and a specific process recognition path. It assures efficiency and allows people and machines reach a mutual advantage of collaboration, as they both can focus on tasks they are best at. Innovative solutions are Deutsche Telekom’s flywheel; therefore, hubraum decided to include CloudStorm in the portfolio. The partner of the investment is PortfoLion, a Budapest-based venture capital and private equity fund management firm that invests in the CEE region. With this investment, CloudStorm will be able to open towards new markets and prepare the company for global scaling.
"We are excited to join the hubraum ecosystem and the Deutsche Telekom family. It is also a source of pride to be the first hubraum investment in Hungary. The cooperation opens up vast opportunities for CloudStorm with Deutsche Telekom business units and corporate partners in Europe and beyond. With this investment, we will be able to open towards new markets and prepare the company for global scaling. What’s more, by implementing machine learning features, we will achieve mass market appeal ahead of our competitors" – says David Salamon, CEO & Co-founder at CloudStorm.
In addition to financial support, the company will be provided with an access to DT’s resources in all 13 European countries where DT operates, business opportunities inside and outside the company and strong support from the tech incubator hubraum.
"At first, CloudStorm will directly work with various business units of Deutsche Telekom, supporting them with an outsider’s perspective and expertise in process automation. Later on, when the company benefits from this cooperation, CloudStorm may become a coherent part of DT’s offering, building an extensive value proposition for business customers" – claimed Jakub Probola, Head of hubraum & Managing Director DT hubraum Fund.
Through this investment, hubraum continues its mission of transferring tech innovation between the startup ecosystem and the corporation. That combination of assets allows developing solutions for tangible tomorrow.
About Deutsche Telekom: Companyprofile
hubraum connects the digital startup ecosystem with Deutsche Telekom, linking tech entrepreneurs and high growth startup companies with the expert network, capital, and business opportunities of Deutsche Telekom. hubraum offers various programs out of three locations in Berlin, Krakow and Tel-Aviv. Start-ups can benefit from seed financing, co-working space, mentoring, networking events and connections to Deutsche Telekom business units as well as access to customers.
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