London-based telecoms and technology company XConnect has received $10 million (£6.1 million) from a consortium of investors.

London-based telecoms and technology company XConnect has received $10 million (£6.1 million) from a consortium of investors including Accel Partners, as well as Venrock Associates, Grazia Equity and Crescent Point Group.

The investment will be used to develop the company’s Interconnect 2.0 products, which deliver voice and video, and other multimedia services in the telecoms space.

XConnect chairman Ohad Finkelstein said: ‘This investment by tier 1 venture capital firms during challenging economic times is a strong endorsement of federated interconnection. The global reach of our investors underscores their grasp of our company’s worldwide impact and growing international prospects.’

Torsten Kreindl, a partner at Grazia and a former director of Swisscom, and David Hand, managing director at Crescent Point, will join XConnect’s board of directors.