Data centre software in funding win [Birmingham Post (England)]
(Birmingham Post (England) Via Acquire Media NewsEdge) COMPUTER software company, Concurrent Thinking, has received Pounds 400,000 of funding from Finance Birmingham to develop a software application aimed at lowering the running costs of data centres.
The Concurrent Command software will work by improving data centres' energy use and operational efficiency.
The investment has created a number of jobs and will be used to develop the growth of the business as well as increase its marketing activity.
Concurrent Thinking has received a further Pounds 400,000 from existing investors including: The ERA Foundation, The Carbon Trust, Forward Group and Midven. A subsequent funding round will be completed within the next six months.
Ian French, investment executive at Finance Birmingham said: "We believe Concurrent Thinking has a strong future and we hope that this example will inspire other entrepreneurs to come forward for funding. It is an innovative company which has a first class product offering and fits with many key criteria included within the Birmingham Business Charter for Social Responsibility."
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