Reliance Capital's subsidiary invests in US firm Stoke Inc
Anil Ambani group firm Reliance Capital on Saturday said its subsidiary has invested in US-based telecom solution provider Stoke Inc.
However, financial details of the investment made by ADAG's corporate venture arm Reliance Technology Ventures (RTVL) was not disclosed. The US-based firm enables telecom operators to solve security services problems across different broadband access.
The co-investors along with RTVL in the deal include existing investors such as US-based venture capital funds Kleiner Perkins Caufield & Byers, Sequoia Capital, Integral Capital Partners and DAG Ventures, a company release said.
"Stokes Technology provides highly versatile and innovative solutions specifically engineered to help operators realise the economic benefits and competitive advantages of network convergence," RTVL CEO Harshal J Shah said.
RTVL has advised and invested in deals aggregating to over one billion dollars. This is the second investment of RTVL in the US telecom space.
Early this month it had invested 10 million dollars in E-Band Communications that makes ultra-high capacity wireless communications systems.
RTVL, led the financing round which included investment from ADC Telecommunications, Express Ventures, Hercules Technology Growth Capital, Inc, Investec and a major wireless carrier.
Besides, earlier this year the deal through which Reliance Communications acquired US-based Yipes Holdings for Rs 1,200 crore was advised by its unit -- RTVL. It had also adviced RCom in deal with online travel portal, Yatra.com.