Container networking software provider Plumgrid had raised about $27m in equity financing from backers including Qualcomm Ventures and Swisscom Ventures.

Plumgrid, a US-based virtual networking technology developer backed by corporates Qualcomm and Swisscom, has shut down and sold its technology to virtualisation technology provider VMware for an undisclosed sum.

Founded in 2011, Plumgrid had developed a container networking software suite that helped businesses build out their cloud’s virtual network infrastructure.

However, co-founder and chief technology officer Pere Monclus has revealed through a blog post that the company’s intellectual property and technology had been acquired, with several employees moving companies as…