NEW YORK--(BUSINESS WIRE)--Mutable, a pioneer in Public Edge Cloud technology, today announced completion of a $1.5 million seed round led by Lunar Ventures and Fly Ventures with participation from Momenta Ventures, Acequia Capital, and Charlie Songhurst.
The funds will be used to further develop Mutable's Public Edge Cloud, add staff to their product and business development teams and expand the company’s reach into new markets and regions as edge computing continues to grow. Mutable has already welcomed four new hires and is currently in the process of hiring more engineers and business development professionals.
"Today’s operators are waking up to the untapped potential revenue that their infrastructure offers when coupled with our technology,” said Mutable CEO and co-founder Antonio Pellegrino. “Now is the time to prioritize and expand our impact on the cable and telco markets and solidify our place as a leading startup in the edge computing space, and we couldn’t be more thrilled to do it with a set of top-notch investors by our side.”
The funding also permits Mutable to launch the Mutable Marketplace, a first-of-its-kind curated platform for vendors with edge solutions to facilitate product demonstrations and turnkey deployment directly to some of the largest cable and telecom operators through the Public Edge Cloud. Over 20 edge services providers have already set up profiles on the Marketplace, including Parsec, Plume, Teltoo and more.
“The marketplace will unleash the potential of a whole new generation of vendor-developed solutions onto operator networks,” explains Mutable CTO Nathalie Zadoks, “resulting in better and faster internet experiences as well as new revenue streams for operators. It’s a win-win-win for all involved -- from operators to developers to the average consumer -- to create next-gen customer experiences in the connectivity space.”
"We are very excited to back Mutable in building a novel paradigm for public edge cloud and to lead their seed round,” said Dr. Elad Verbin, Founding Partner & Chief Scientist at Lunar Ventures. “Working with Antonio and the team, we were thrilled to discover we see eye-to-eye with Mutable on their vision for the future of computing and are delighted to partner with and support them as they bootstrap the Mutable platform from the ground up. We're looking forward to seeing businesses build an exciting new generation of applications on Mutable's Public Edge Cloud.”*
About Lunar Ventures:
Lunar Ventures is a venture capital fund that leads early seed investments in deep tech software across Europe. Based out of Berlin, Lunar believes that technical founders need technical VCs — in product, engineering, and science. The Lunar team brings its years of hands-on experience building software startups in Israel to back and support founders building the shared foundations of the tech economy.
About Fly Ventures
Fly Ventures is a seed-stage VC firm focused on Deep Tech startups tackling challenges for Enterprises across industries. Fly is a team of engineers and investors, uniquely positioned to help founders build technologically outstanding businesses with global ambitions.
Mutable is creating a public edge cloud that delivers faster internet and better quality of service for customers by acting as an Airbnb of servers. Mutable works with operators to turn their edge capabilities into a competitive advantage against “hyper scalers” by reducing latency, boosting security and increasing bandwidth for their assets while securing new revenue streams. Mutable is a Techstars and UpRamp alumni company.