02 April 2019, India:
SDN Networking Platform Lavelle Networks has raised $2 million in Series A funding round. The funding round was led by YourNest Venture Capital.
Ideaspring Capital, KAAJ Ventures (B V Jagadeesh), and ASM Technologies Limited also participated in the funding round.
The company will use the fresh capital to accelerate it’s rapid expansion program in FY20 into key digital transformation market opportunities.
Sunil K Goyal, Managing Director and Fund Manager, YourNest Venture Capital, said, “In the next two years, our focus through our second fund will be to identify nearly 20 deep-tech product companies that could be nurtured into market leaders globally. We are well on track to achieve this vision with Lavelle Networks joining our growing portfolio.”
Sunil K Goyal, added, “It has shown great potential for enterprises where legacy network platforms are increasingly becoming a business bottleneck. The company’s cloud-based WAN solution for enterprises is disruptive and is poised to solve many networking challenges.”
Shyamal Kumar, Founder & CEO, Lavelle Networks, said, “We are tremendously excited to partner with YourNest as we work to bring cutting-edge enterprise networking at transformative economies of scale to the emerging economies of the world. Back in 2017, Ideaspring joined hands with us to build a company we all want to be proud of and grow rapidly into a market force. We are extremely encouraged that such esteemed investors believed in us.”
Naganand Doraswamy, Managing Director, Ideaspring Capital, said, “Lavelle Networks has achieved phenomenal growth over the past two years. Ideaspring is very happy to participate in this round as we believe Lavelle Networks will be one of the premier SD-WAN company.”
Lavelle Networks is a SDN networking platform. It’s aim is to solve the challenges for enterprises connecting over a Wide Area Network.
Their solution – Network-as-a-Service – uses the cloud to automate, optimize and secure enterprise networks using next generation traffic analysis.
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