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VCs invest $2.5m in July Systems

BS Bureau in Bangalore

July Systems, which develops mobile network infrastructure platforms, announced on Monday a $2.5 million funding from US venture capital firm NeoCarta Ventures and WestBridge Capital Partners, an existing investor.

Tony Pantuso, managing director of the San Francisco-based NeoCarta Ventures, has joined the board of July Systems.

July had already raised $5.5 million in the on-going Series A round, earlier this year. The initial round was led by WestBridge Capital Partners, with Acer Technology Ventures Asia-Pacific and Jumpstartup Venture Fund as co-investors.

"We are pleased to announce this successful extension of our funding. It is a testimony to July's strength in technology, vision and market focus that we continue to generate significant interest and commitments from the venture capital community despite the difficult financing environment that exists today," Ashok Narasimhan, founder and chief executive officer, July Systems, said.

"NeoCarta invests in innovative technology companies that have a definite potential to achieve leadership in their respective markets," Pantuso said.

"We believe July will develop an industry-leading offering to enable seamless delivery of next generation mobile data services," Raj Dugar, managing director, WestBridge Capital Partners, said.

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