Diffusion Capital Partners (DCP), Turkey's leading investment fund in the field of deep technology, invests €1 million Euros at €9 million valuations in TEA networks, a deep-tech company that develops AI-driven Wi-Fi management software maximizing user experience in wireless networks. The software solutions developed by TEA networks, based in the incubation center of Technopark Istanbul, are used by Internet service providers and wireless device manufacturers around the world. Thanks to its signature "High-Definition Predictive Maintenance Technology", the company offers solutions that enable wireless networks to work smoothly and efficiently.
Used by 15 internet service providers across Europe
In a digital world, it is impossible to imagine life without wireless networks and the Internet. Most customers contact their Internet service providers' call centers to report problems with their home WiFi connections. Problems with Wi-Fi cause dissatisfaction among end-users; generate high maintenance and repair costs for Internet service providers, and in many cases result in customer churn. With its TEA Cloud and TEA Mesh software suites, TEA networks offers Internet service providers the ability to prevent Wi-Fi problems before they happen. TEA Cloud and TEA Mesh significantly reduce operating costs for Internet service providers while creating new opportunities for value-added services. TEA networks’ solutions are deployed by 15 internet service providers across Europe.
“We prevent Wi-Fi problems before they happen.”
Kerim Aytek Tok, the CEO of TEA networks, said: “With our real-time, AI-driven solution consisting of embedded and cloud software modules, we proactively improve users' Wi-Fi experience. We prevent Wi-Fi problems before they happen. The investment we received from DCP will enable us to further boost our technology and also expand to new markets. "
Haluk Zontul, the Managing Partner of DCP, said: "It is DCP's strategy to closely monitor opportunities for investment in deep-tech companies, and invest in these startups in seed and Series A rounds so they can open up to global markets. A good Wi-Fi connection is a basic necessity in today's world. This necessity will become more apparent as a result of the massive growth in devices connected to the internet and the proliferation of 5G. We’ve been following the technologies developed by the TEA networks team for the last two years and today we are very excited to invest in them during the stage they scale their products to global markets"
"Today, one of the best ways for startups to get funding on the path to growth and success is by being based in an incubation center. We and TEA networks have been continuing on our common journey since day one. More than 110 successful enterprises like TEA networks are currently based in Cube Incubation. We will add value to the entrepreneurial ecosystem by adding new chapters to success stories at our Incubation center. We are looking forward to announcing a new investment fund to provide our entrepreneurs with financial support in the near future, " said Gürol Üzenç, the Director of Technopark Istanbul's Incubation Center.