Reliance Technology Ventures Ltd (RTVL), the corporate venture capital arm of Reliance ADA Group, has co-led the series-D round of mobile broadband gateway provider US-based Stoke, Inc along with Japanese firm NetOne systems Co. RTVL, which has invested in Stoke's previous rounds, invested $15 million with other return backers like Kleiner Perkins Caufield & Byers (KPCB), Sequoia Capital, Integral Capital Partners, Pilot House Ventures and DAG Ventures. Stoke has raised over $50 million from previous rounds.
California-based Stoke was founded in 2004 and its CEO is Vikas Sharma. Its technology enables telecom operators to deliver concurrent, multimedia subscriber experiences within and across fixed, cellular, Wi-Fi and WiMAX access networks via a single integrated solution.
Stoke will use the funds raised to support its installed base and commercial carrier trials with carriers. Stoke has been shipping its Stoke Session Exchange 3000 for commercial deployments since Jan 2008. Harshal Shah, the CEO of RTVL sits on the company's board.
"Despite difficult economic conditions, high-speed wireless data is experiencing tremendous growth and has become essential to consumers across the globe. This growth challenges scale, flexibility, and cost containment in carrier networks," said Matt Murphy of KPCB.
RTVL has invested quite a few overseas startups in telecom and networking companies. Besides Stoke, it has also invested in Pelago, E-Band Communications and Sequans Communications.