Well siting here writing this blog post and the rains come down lashing the Mumbai streets with thundering added to effect. Ironic isn’t it? When its raining money as well for startups as well. Two companies have recently raised funding and here are the updates on the invetsments.
Vanu raises 32 Million $ in venture funding
Vanu, Inc is a provider of software radio infrastructure solutions for cellular operators which has raised $32 million venture capital investment from VC firms like Norwest Venture Partners (NVP), Charles River Ventures and Tata Capital. This funding will help Vanu in business development and also in the process of significantly expanding its presence in India through increased staffing and the signing of strategic partnerships.
With this funding Bruce Sachs of Charles River Ventures and Promod Haque, managing partner of Norwest Venture Partners join the Vanu Board of Directors.
According to Promod Haque this is much needed technology in India, He says “Nowhere is this needed more than in India. The combination of explosive market growth and low ARPU requires new and innovative infrastructure solutions. We are extremely impressed with the Vanu executive team and the company’s traction to date. We believe Vanu is well positioned to capture the leadership position in this rapidly growing global market.”
Pressmart raises 6 Million $.. To go global!
Pressmart Media Limited a print-to-digital delivery service, has secured funding of 6 Million $ from Draper Fisher Jurvetson and NEA IndoUS Ventures. This funding will allow pressmart to focus on expanding its global sales, marketing, and customer-support presence across 35 countries where it currently serves over 350 print media customers.
With this funding Sateesh Andra, Venture Partner of Draper Fisher Jurvetson and Vinod Dham, Founding Managing Director of NEA-IndoUS Ventures would be inducted as board members on the pressmart board.
According Sateesh Andra, Draper Fisher Jurvetson, there is tremendous growth opportunity for Pressmart digitization services globally, He says “Publications around the Globe are currently under tremendous pressure to increase their presence on the web and leverage new media/social media for content distribution. Pressmart’s Platform offers publishers a strong ROI and additional means of revenue.”