Canopus Networks Secures Investment From US-Based Konvoy Ventures
For immediate release – Wednesday, 31 May 2023
Canopus Networks, a market-leading provider of AI-driven network insights for telecommunications providers with expertise in measuring quality of experience for online applications including gaming, has secured investment from Konvoy Ventures, a premier US-based gaming-focused venture capital firm. This investment takes Canopus’ Series A funding round to AU$15.7M ($10.5M USD), allowing Canopus to accelerate growth in the US, Latin America and Asia-Pacific markets with the mission to revolutionize customer experience in the telecommunications industry.
“Canopus’ ground-breaking AI technology is helping telecommunications providers accurately measure online application experience, allowing them to tune their infrastructure to improve efficiency, enhance user experience, and increase returns on investments. The investment from Konvoy reinforces our focus on gaming, and will be used to strengthen the actionable insights from our platform to help network operators in every geography provide low-latency lag-free gaming to their users'', said Dr. Vijay Sivaraman, CEO and co-founder of Canopus. “We are very excited to be working with Jackson and the Konvoy team, who share our vision to push the frontiers of gaming, and bring strong connections with the gaming ecosystem of developers, publishers and distributors from around the globe”.
“Canopus is the missing analytics solution to help ISPs better understand what and how data flows across their networks. We're incredibly excited to partner with Vijay, Himal, and the entire Canopus team on their mission to help ISPs improve internet infrastructure and the experience for end users”, said Jackson Vaughan, Managing Partner at Konvoy.
Konvoy joins Canopus’ other Series-A investors, including Pentanet, an Internet Service Provider in Perth that is the exclusive Australian operator of NVIDIA GeForceNOW cloud gaming, and IP Group, an investor specializing in spin-outs from deep-tech University research. The investment from Konvoy Ventures accelerates the expansion of Canopus’ footprint in the US and LatAm markets and the creation of new products that enhance the gaming experience.
About Canopus Networks
Canopus Networks is a provider of AI-based Network Traffic Analytics software that gives Telecommunications Service Providers deep visibility into application usage and user experience over their fixed-line and 5G mobile networks. Founded by academic experts and backed by industry veterans, the Canopus solution is built on Terabit speed hyperscaler programmable switching technology coupled with patented AI engines trained on stochastic behavioural models.
