Business

OIL:  BRENT - 78.09+0.96 WTI - 73.95+0.87
COMEX:  GOLD - 1750.60-0.08 SILVER - 22.42-1.15
COMEX:  PLATINUM - 981.50-0.17
LME:  ALUMINIUM - 2918.00-1.12 COPPER - 9271.00+0.22
LME:  NICKEL - 19125.00-0.57 TIN - 36050.00+2.71
LME:  LEAD - 2142.00+0.63 ZINC - 3107.00+1.64
FOREX:  USD/JPY - 110.72+0.31 EUR/GBP - 1.1714-0.23
FOREX:  EUR/USD - 1.1714-0.23 GBP/USD - 1.3678-0.34
STOCKS RUS:  RTSI - 1747.56-0.32
STOCKS US: DOW JONES - 34798.00+0.10 NASDAQ - 15047.70-0.03
STOCKS US: S&P 500 - 4455.48+0.15
STOCKS JAPAN:  NIKKEI - 30248.81+2.06 TOPIX - 2090.75+2.31
STOCKS CHINA:  HANG SENG - 24192.16-1.30 SSEC - 3613.07-0.80
STOCKS EUR:  FTSE100 - 7051.48-0.38 CAC40 - 6638.46-0.95
STOCKS EUR:  DAX - 15531.75-0.72
25/09/2021  CBA:  USD - 480.82-1.42 GBP - 658.77-1.95
25/09/2021  CBA:  EURO - 564.15-1.66
25/09/2021  CBA:  GOLD - 27003.29-129.37 SILVER - 350.29-2.28
25/09/2021  CBA:  PLATINUM - 14979.5-261.30
September, 2021
September 2021
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
27282930  
IMG grantee XCloud Networks: We are taking steps to establish our presence in EU market
19/11/2018 15:50

IMG grantee XCloud Networks: We are taking steps to establish our presence in EU market

Since 2017 “Support to SME Development in Armenia” (EU-SMEDA) project, which is co-funded by the European Union and the German Federal Ministry for Economic Cooperation and Development (BMZ) and implemented by GIZ PSD SC Regional Programme, in cooperation with Enterprise Incubator Foundation (EIF), has been supporting Armenian startups with two grant competitions.

Being a part of the EU4Business and EU4Innovation Initiatives, EU-SMEDA provides 2 types of grants: Innovation Matching Grant (IMG) and Science and Technology Entrepreneurship (STEP).

With a series of articles, we will be exploring startups that received grant in the framework of the EU-SMEDA project.

XCloud Networks fully automates the deployment and management of network infrastructure, enabling companies to own their network stack: be vendor-agnostic, reduce CapEx (capital expenditure), increase stability.

Based in Sunnyvale, California with an office in Armenia and 14 employees, XCloud Networks received Innovation Matching Grant (IMG) in 2017. The financial support helped the team speed up product development and hire new people.

The startup’s co-founder and CEO Alex Saroyan has been engaged in network service for 18 years and worked as a consultant with foreign companies. While spending most of his career in managing roles, Alex managed to get hands-on engineering and coding experience, detailed knowledge of the ins and outs of networking protocols and practical challenges. He decided to establish a startup with his two friends to help fast-growing companies have highly automated, agile and cost-efficient network infrastructure.

IMG grantee XCloud Networks: We are taking steps to establish our presence in EU market 1

Touching upon the uniqueness of his startup’s technology, Saroyan explains that with XCloud Networks it takes maximum 3 months for companies to facilitate their transition into open networking.

“It sharply contrasts with “vendor lock-in” or proprietary approaches, unlocks network stack and unlike competitors provides all the required applications in easy to manage and ready to use fashion (Security, VPN, load balancer, BGP peering, L2/L3 circuits, routing on the host, cross-connects, monitoring, logging, analytics, in system software upgrade, etc). That enables companies to scale 10X with existing human resources and save 20X on total cost. Moreover, only five-hour training is required for engineers to run XCloud Networks’ solution”, he notes.

For XCloud Networks the EU market is a potential region for growth. Notably, the startup is already taking steps to establish its presence there. At the moment, it has a Netherlands-based partner and two customers from EU countries.

According to Alex Saroyan, one of the main challenges of being a startup in Armenia is keeping pace with the ever-changing and evolving tech industry needs.

IMG grantee XCloud Networks: We are taking steps to establish our presence in EU market 2

“You need to make sure you develop new features and keep them updated. Although we are an early stage startup, our dedicated team and the technology developed helped us face this challenge and have paying-customers from California and Europe. It’s worth mentioning that one of our customers is Innova, a leading online gaming platform with more than 25 million active users, which swapped Cisco, Juniper and F5 for XCloud Networks. It’s really a successful case in the industry”, he stated.

While talking about the short-term goals of the startup, Alex Saroyan informed that they are planning to bring in automation every aspect of networking and evolve the necessary foundations to deliver self-operating networks with AI-based intelligence.

IMG grantee XCloud Networks: We are taking steps to establish our presence in EU market 3

IMG grantee XCloud Networks: We are taking steps to establish our presence in EU market 4

Beeline Armenia - Telecommunication services for your business.
AMD Rates
10:50 25/09 Buy Sell
AMD / USD 478.00 483.50
AMD / EUR 559.00 565.00
AMD / RUR 6.56 6.68
dollars
dollars
CBA Rates
25/09/2021
USD / AMD
480.82
-1.42%
EUR / AMD
564.15
-1.66%
RUR / AMD
6.60
-0.01%
GBP / AMD
658.77
-1.95%
Cryptocurrencies
10:50 25/09
BTC/AMD
20,623,828
-3.60%
BTC/USD
42766.73
-3.30%
ETH/USD
2928.09
-4.92%
BCH/USD
519.16
-4.07%
XRP/USD
0.95
-3.06%
LTC/USD
154.78
-3.47%
ETH/BTC
0.06861823
-1.56%
BCH/BTC
0.01212759
-0.89%
XRP/BTC
0.00002222
+0.41%
LTC/BTC
0.00361496
-0.53%
CBA Metals
25/09/2021
dram / gram
Gold
27003.29
-129.37%
Silver
350.29
-2.28%
Platinum
14979.5
-261.30%
FOREX
11:00 25/09
EUR/USD
1.1714
-0.23%
GBP/USD
1.3678
-0.34%
USD/JPY
110.72
+0.31%
EUR/GBP
0.8561
+0.09%
Oil
11:00 25/09
$ / barrel
Brent
78.09
+0.96%
Light Sweet
73.95
+0.87%
COMEX
11:00 25/09
$ / tr. oz
Gold
1750.60
-0.08%
Silver
22.42
-1.15%
Platinum
981.50
-0.17%
LME / 3M
11:00 25/09
$ / tonne
Aluminium
2918.00
-1.12%
Copper
9271.00
+0.22%
Nickel
19125.00
-0.57%
Tin
36050.00
+2.71%
Lead
2142.00
+0.63%
Zinc
3107.00
+1.64%
Molybdenum
46250.00
+0.00%
Cobalt
53380.00
+0.00%
Indexes
11:00 25/09
point
Dow Jones
34798.00
+0.10%
S&P 500
4455.48
+0.15%
NASDAQ
15047.70
-0.03%
FTSE
7051.48
-0.38%
CAC 40
6638.46
-0.95%
DAX
15531.75
-0.72%
RTSI
1747.56
-0.32%
Nikkei
30248.81
+2.06%
Topix
2090.75
+2.31%
Hang Seng
24192.16
-1.30%
SSEC
3613.07
-0.80%
CBA Interest Rates
26/03/2020
Refinancing
Refinancing Rate
7.25
+0.00%
Lombard Repo
Lombard Repo Rate
8.75
+0.00%
Deposit
Deposit Rate
5.75
+0.00%
Macroeconomy
07/2021
CEA
Coefficient of Economic Activity
+8.90%
Ind. Prod. 3
Volume of Industrial Production
1,225.7
+2.10%
Export 1
Export
1,641.5
+23.2%
Import 1
Import
2,664.9
+10.6%
CPI
Consumer price index
+6.10
Avg. Salary 2
Average salary
197,881
+5.4%
Services 3
Volume of services
1,025.6
+4.40%
Construction 3
Volume of construction
160.60
+8.80%
1 - mln AMD, 2 - AMD, 3 - bln AMD