LONDON-Global telecommunications group Cable & Wireless announced it is investing $20 million in European Internet business accelerator GorillaPark.
C&W said the investment reflects its commitment to delivering innovative Internet Protocol and data services to business customers, and will reinforce GorillaPark’s ability to incubate and accelerate up to 20 start-ups per year.
In addition, the investment will allow GorillaPark to provide C&W products and services to the start-ups and give C&W the opportunity to invest in the start-ups in subsequent funding rounds, or to acquire a company to fill a capability gap.
Stephen Pettit, executive director of corporate development at C&W, will lead the initiative for the company, joining GorillaPark’s board as a member of its investment committee.
