1 April 2019
Cloud Technology Company Polystream Receives $12M Series A Funding Led by Intel Capital
1st April 2019, Guildford, UK – Polystream, a deep tech B2B startup that enables demanding interactive 3D applications to be streamed from the visual cloud, today announced at the Intel Capital Global Summit a $12 million Series A investment led by Intel Capital. Also participating were Lauder Partners and Wargaming Group Ltd, who join previous investors Initial Capital and London Venture Partners.
- Polystream secures $12m Series A investment
- Round led by Intel Capital, with participation from Lauder Partners and Wargaming Group Ltd
- Funding will be used to recruit top talent from around the world, expand marketing activities and accelerate further development of Polystream’s technology
Bruce Grove, co-founder and CEO of Polystream, said: “Audiences around the world are increasingly hungry for the richest and most graphically complex content to be streamed instantly. The current approach of deploying GPUs in the cloud to deliver compressed video, whether for playing games or any other high-fidelity application, is eye-wateringly expensive and just does not scale. It’s why cloud gaming remains the hardest of streaming problems to solve; anyone can stream games, but the business of streaming is broken.”
Dave Flanagan, vice president and senior managing director at Intel Capital, said: “We believe new approaches are required to stream graphics at scale in the cloud and at the network edge. Bruce and Adam have had a huge impact on the business of video games over the past two decades, and they’re now set to transform cloud gaming and many other interactive industries.”
Adam Billyard, co-founder and CTO of Polystream, said: “For us, solving this problem is the tip of the iceberg. We’re completely rethinking and realizing new ways of how to use the visual cloud, from server to client, from network to edge, transforming how the world consumes interactive content and services for years to come. From instant on-demand gaming, massive simulations and modelling and immersive media, to the highest definition 3D applications, the cloud is enabling the creation of never-before-seen interactive experiences that can only be realized through the power of Polystream.”
Founded in 2015, co-founder and CEO Bruce Grove is a cloud gaming expert, having been Head of Engineering and General Manager at OnLive; whilst co-founder and CTO Adam Billyard is renowned for his technical innovation as the founder of Criterion and the inventor of RenderWare. Polystream is the visual cloud realized. The deep-tech startup is powering and fundamentally changing how demanding 3D applications are delivered via the cloud. For more information, or to request a demo, please visit polystream.com.
About Intel Capital
Intel Capital invests in innovative startups targeting artificial intelligence, autonomous vehicles, data center and cloud, 5G, next-generation compute and a wide range of other disruptive technologies. Since 1991, Intel Capital has invested US$12.4 billion in 1,554 companies worldwide, and 670 portfolio companies have gone public or participated in a merger. Intel Capital curates thousands of business development introductions each year between its portfolio companies and the Global 2000. For more information on what makes Intel Capital one of the world’s most powerful venture capital firms, visit www.intelcapital.com or follow @Intelcapital.
About Lauder Partners LLC
Lauder Partners LLC is a Silicon Valley-based venture capital firm investing in radical innovations across a wide range of industries and stages. Gary Lauder, Managing Director, has been a venture capitalist since 1985, investing in over 125 private companies, which included OnLive, where he learned some lessons and met Bruce Grove.
About Wargaming Group Ltd
Wargaming is an award-winning online game developer and publisher headquartered in Nicosia, Cyprus. Founded in 1998, Wargaming has grown to become one of the leaders in the gaming industry with 4500+ employees and more than 20 offices globally. Over 200 million players enjoy Wargaming’s titles across all major gaming platforms. Their flagship products include the massively popular free-to-play hit World of Tanks and the strategic naval action game World of Warships.
About Initial Capital
Initial Capital is an investor in seed and early-stage technology companies with a focus on games, consumer services and technology enablers. We’re not a traditional VC fund – we’re a group of serial entrepreneurs who invest our own money and actively partner with world class teams to build global category winners. Based out of London and Silicon Valley, we’ve played a key part in growing companies. To find out how Initial Capital helps early stage startups with the ups and downs of the business and get ongoing advice on everything from product and tech to recruitment and growth, visit www.initialcapital.com
About London Venture Partners
London Venture Partners invests in European & US early stage companies in the online, mobile, social, and cloud game sector, including content and tech & services B2B companies powering consumer facing game companies. Investments to date include Supercell, Reach Robotics, Polystream, AppOnboard, Gawkbox, Dojo Madness, Plexchat, Futureplay and Playfusion. To learn more about LVP visit www.londonvp.com