Telekom Innovation Pool GmbH, the strategic investment fund of the international telecommunications giant Deutsche Telekom (DT), has invested €2 million in the Polish cloud gaming company RemoteMyApp. RemoteMyApp provides cutting-edge technology and gaming content to global businesses to power their customer-facing cloud gaming services.
RemoteMyApp also owns and operates the successful cloud gaming platform Vortex.gg, which makes gaming possible anywhere, at any time, and on a huge variety of devices. Since the platform’s launch in 2017, its dedicated applications have been downloaded more than 10 million times across a variety of platforms.
The investment will accelerate RemoteMyApp’s international growth and allow for rapid innovation in key technologies. For Deutsche Telekom, one of the largest telecommunications providers in the world, it paves the way for the introduction of its very own cloud gaming platform based on the technology, game content, and ecosystem experience provided by RemoteMyApp. Both companies are currently working on a beta version of a product that will enable DT’s vast subscriber base to access a seamless cloud gaming experience.
“Cloud gaming has quickly become a universally desired form of entertainment and global businesses are looking to benefit from that trend,” says Andreas Hestbeck, the CEO of RemoteMyApp. “We’ve been running our successful product, Vortex.gg, long enough to say that we are the ideal B2B partner for providing global players with a fully-customised cloud gaming solution. We are thrilled that Deutsche Telekom recognised our value early on and are looking forward to welcoming new partnerships worldwide.”
“We believe strongly in cloud gaming and think this is exactly the right time and the right way to enter this market and to leverage our core Network and EDGE capabilities,” adds Dominik Lauf, Program Lead and Chief Product Officer at MagentaGaming from DT. “After our successful cooperation with RemoteMyApp over the last two years, we believe we have invested in the right team and company to pursue our shared plans for spearheading further growth in the cloud gaming sector. We are very excited about our future together.”
RemoteMyApp was founded in 2014 in Szczecin, Poland, with support from Tar Heel Capital Pathfinder, a VC fund and a venture builder. In 2016 it was further boosted by an investment from MCI Capital, a Central European tech investment fund.
“RemoteMyApp combines state-of-the-art technology and hands-on experience implementing successful cloud gaming platforms. It’s a game changer for businesses looking to get their own game-streaming product,” says Arkadiusz Seńko, the managing partner of Tar Heel Capital Pathfinder. “We are excited to see one of our venture building projects well on track to becoming a global success story, and thrilled to have Deutsche Telekom join us on this journey.”
“MCI is extremely excited to welcome on board Deutsche Telekom’s expertise to scale up RemoteMyApp into one of the largest cloud gaming platforms worldwide. The company is highly innovative and already attracted millions of users, which only confirms the immense growth potential in both the B2B and the B2C space. We believe that RemoteMyApp might become the first Polish unicorn,” says Tomasz Danis, partner at MCI Capital.
Cloud gaming refers to the use of cloud servers, rather than local devices, to run games. Users do not have to own powerful hardware, nor update it regularly, and are still able to run the latest games anywhere—as long as they have a device with a screen and a stable internet connection. The booming popularity of cloud gaming is reflected in numbers: the industry is predicted to generate revenues of $356 million in 2020 and grow to $3.2 billion by the end of 2023.
Founded in 2014, based in Szczecin, Poland, RemoteMyApp already has two of its own successful product launches under its belt. In 2014 it launched Remotr, an app that allows streaming from the user’s computer to any other device. In July 2017, Vortex Cloud Gaming was launched publicly. Vortex.gg, provides a cloud-based games-on-demand service, which makes gaming possible anywhere, at any time, and on a huge variety of devices. Its dedicated applications have been downloaded more than +10 million times across a variety of platforms. RMA now also offers its technology to global enterprises, allowing them to provide a state-of-the-art, fully-customised cloud gaming solution to their customers.
Tar Heel Capital Pathfinder is a Polish venture capital fund investing in early stage projects and an experienced venture builder, co-creating thriving global tech businesses. It is focused on innovative industries and emerging technologies, and its current investment scope includes companies involved in esports, big data, cloud computing, fintech and martech. Pathfinder has enabled growth of bold businesses with international reach, such as Unikrn (esport betting), GRID esports (esports data solutions), Plum Research (big data insights for the entertainment industry), Skinwallet (in-game items trading platform) or Woodpecker (cold e-mails & follow-up tool). https://thcpathfinder.com/
MCI Group is one of the largest technology investment funds in the region of Central and Eastern Europe, dedicated to digital private equity. MCI funds manage PLN 2.2 billion (EUR 500 million), investing capital in the areas of: pure-technology companies (disruptors), companies undergoing digital transformation and IT infrastructure. In over 20 years of history, the funds have carried out more than 100 investments and 60 exits. MCI aims at building regional digital champions. The Fund was involved in, among others, Mall.cz (e-commerce, Czech Republic), WP.pl (digital media, Poland), Invia (e-travel, CEE), Dotpay/eCard (fintech, Poland), iZettle (fintech, global) and Netrisk (insurtech, Hungary). More information about MCI can be found at www.mci.eu.
Kamila Okulska, Head of Content
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