Witsbits close funding round with Chalmers Innovation Fund

Gothenburg and Silicon Valley, June 24, 2010

BootstrapLabs company Witsbits® AB, the Scandinavian pioneer in cloud computing solutions for metering and billing of cloud infrastructure today closed a funding round with Chalmers Innovation Seed Fund, a Swedish early stage investment fund.

The Go-Cloud technology is one of the most exciting solutions in the Cloud computing space right now. It enables Internet carriers, Service and Hosting Providers to quickly do metering and billing of cloud infrastructure.” – says Timo Lehes, Chalmers Innovation Seed Fund.

Chalmers Innovation adds both a capital injection that allows us to grow to the next level, and a network of resources to help us move Witsbits further much quicker.” – says Mikael Lirbank, CEO and founder of Witsbits.

The Cloud Hosting Platform Go Cloud™ is a software based Cloud Hosting Platform that turns current infrastructure into a full-blown Public Cloud, including both Storage and Computing. Go Cloud™ enables Internet Carriers and Server Hosting Providers to start selling their capacity through the cloud (electricity) business model. The Go Cloud™ platform provides end-users with access to the hosting providers’ server and Internet capacity in a secure and controlled manner.

Go Cloud™ is a customizable turn-key solution that enables hosting companies to provide their clients with a self-service compute and storage cloud, including billing, high-resolution utilization meters, web-API, management console, and more, from their own premises. All the components required to start selling self-serviced cloud computing are included.

About Witsbits
Witsbits (www.witsbits.com) is a pioneer in cloud computing software solutions. The company is the creator of Go Cloud™, a software suite that quickly turn of-the-shelf servers and infrastructure into a unified compute and storage cloud. It targets Server Hosting Providers and Internet Service Providers who wants to start selling Internet and server capacity in a utility-like fashion – and enable them to “Go Cloud”.

About Chalmers Innovation
Chalmers Innovation is a Swedish investment fund and business incubator that focus on high-tech rapid growth companies. Founded in 1999 by Swedish Chalmers University of Technology, Chalmers Innovation has contributed to the starting of over 90 companies. The succes rate of the incubator is one of the highest in the world with 73 out of 90 companies still in operation. Chalmers Innovation Seed Fund was founded in 2008.

For more information contact:

Nicolai Wadstrom, Witsbits USA, +1 415 935 1469, nicolai@witsbits.com

Timo Lehes, Investment Manager, Chalmers Innovation Seed Fund, +46 702 115 133, timo.lehes@chalmersinnovation.com

Mikael Lirbank, CEO and founder, Witsbits, +46 708 309 588, mikael@witsbits.com

Witsbits® is a registered trademark of Witsbits AB. Go Cloud™ is a trademark of Witsbits AB. All other trademarks are property of their respective owners. Other product or company names mentioned may be trademarks or trade names of their respective companies.