Financial Daily from THE HINDU group of publications
Tuesday, Aug 24, 2004
Financial Daily from THE HINDU group of publications Tuesday, Aug 24, 2004 |
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Info-Tech
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Venture Capital July Systems raises $10m from VCs Our Bureau
Bangalore , Aug. 23 MOBILE data solution provider July Systems on Monday announced that it has raised $10 million in Series B funding to expand its multi-discipline product team in Bangalore and strengthen global sales and marketing. The funding was led by the US venture capital firm Charles River Ventures (CRV), with additional funding from all of the existing investors WestBridge Capital Partners, NeoCarta Ventures, Jumpstartup and Acer Technology Ventures, said a company press release. Silicon Valley Bancshares also joined as a new investor. Mr Izhar Armony, a general partner at Charles River Ventures, has now joined the board of directors of July Systems. July Systems said the fresh funding would be used to fuel the expansion of its multi-discipline product team in Bangalore that included domain specialists in mobile services infrastructure and applications engineering, mobile data services design, mobile services management and operations, global marketing and business development. The latest round of funding would also be used to strengthen global sales and marketing activities. July currently had a presence in UK, Germany, Italy, Singapore, Australia, Korea and Japan apart from its US corporate headquarters and the Bangalore-based product centre.
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