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Bangalore March 26 The Bangalore-based Moveo Systems has closed $1.2 million in its second round of funding.

Over the last twelve months Moveo has raised $2.2 million in angel funding.

The capital raised will primarily be used to deploy regional sales teams as well as add product development headcount.

"This second round of funding is a further reaffirmation of our long-term product vision coupled with our near-term customer successes in this rapidly growing market segment," said Mr Sankalp Saxena, founder and CEO, in a release.

"Our second round angel investors bring expertise from three new industry verticals to Moveo and will help shape product strategy and accelerate adoption of our solutions in these segments."

Mr Samir Inamdar, President and CEO of General Electric Consumer & Industrial for India Region and member of the Moveo board, said: "Moveo has demonstrated the ability to deploy highly compelling mobile solutions across several different verticals."

He added: "Their technology platform transforms end-user mobile experience and provides organisations with powerful new ways to communicate with consumers, build brand awareness and generate new revenue streams. The second round investors will add value to this equation."

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