Vanu Inc., a developer of software for cellular network operators, has received a $32 million funding round led by Norwest Venture Partners.
Tata Capital and Charles River Ventures, which participated in Vanu's $8 million angel round in 2007, also contributed to the latest financing. Ten-year-old Vanu's software technology, which grew out of MIT research, amounts to a cellular base station that is installed on off-the-shelf servers, rather than an expensive piece of proprietary hardware.
The new funding will fuel a big push into India markets that includes hiring new staff and striking new business partnerships, the company said. Bruce Sachs of Charles River Ventures and Promod Haque of Norwest Venture Partners have joined Vanu's board as part of the deal, joining former FCC chairman Reed Hundt. -- Olaf de Senerpont Domis
See Sept. 4 press release on Vanu funding from BusinessWire
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