Amsterdam-based telecommunication startup OPNT secured a seed investment of 500k from the Dutch branch of technology fund Cottonwood, based in Enschede.
OPNT, a systems provider for highly accurate time distribution through fiber-optic telecommunication networks, announced that it wants to expand its operations in Amsterdam.
The startup offers solutions to businesses for network timing, independenceof GPS timing, and reduced OPEX. With the investment, a secure alternative to GPS receivers for synchronization of 4G mobile Internet infrastructure has to be launched.
The company was founded in 2013 by Marco Gorter and Jeroen Koelemeij as a spin-off company of LaserLaB at the Free University (VU) of Amsterdam.
“We already provide timing solutions for academic fiber-telecom infrastructure, which shares many similarities with the networks of commercial telecom operators”, both founders say. “We foresee a bright future for fiber-optic-based timing and positioning systems.”
Cottonwood recently opened up shop in the Twente-region. “We chose the Dutch region of Twente as the epicenter of our European hub because of the existence of its world class entrepreneurial environment and a leading entrepreneurial university there”, General Partner Ray Quintana said.
“However, similar opportunities exist in other regions of The Netherlands, as illustrated by the current capital injection into Amsterdam-based OPNT – our third after earlier investments in two start-ups founded at University of Twente.”