Orange moves to back European B2B tech - Mobile World Live

Orange moves to back European B2B tech

04 JAN 2022

Operator heavyweight Orange announced an investment in a European fund, as part of a push to support B2B companies in the continent focused on areas including artificial intelligence, IoT and cybersecurity.

In a statement, Orange explained it had made the move in the Move Capital I fund through its holding company Orange Digital Investment, and its involvement would be managed through Orange Business Services.

The Move Capital fund is primarily backed by French financial services company Kepler Cheuvreux, and is an active backer in AI, data analytics, cybersecurity, cloud, industry 4.0 and IoT development.

Orange Business Services, which runs as the global enterprise entity for Orange Group, explained it shared a common vision with the Move Capital Fund to support and finance European and French technology companies in the digital B2B sector and to “facilitate their development and ensure European technological sovereignty”.

The sum of investment Orange made in the fund or terms agreed were not disclosed, but the company said the move confirmed its desire to become a “stakeholder” with a recognised panel of promising European technology companies.

Fragmentation
Orange further noted the B2B technology ecosystem was in the midst of change, with development of 5G and migration to the cloud, and there was a need to protect these ecosystems with cybersecurity solutions.

Laurent Godicheau, chief strategy officer at Orange Business Services, said the investment was key to anticipating its customers’ needs and strengthening its own services and expertise in the B2B market landscape.

He added that “a digital European approach to B2B is much appreciated by our global clients given the increasing fragmentation of digital ecosystems”.

Back

Author

Kavit Majithia

Kavit joined Mobile World Live in May 2015 as Content Editor. He started his journalism career at the Press Association before joining Euromoney’s graduate scheme in April 2010. Read More >>

Read more

Related

Tags