Vanu Calls Up $32 Million


Vanu Inc., a Cambridge, Mass.-based maker of software radios and base stations for cellular operators, has quietly raised $32 million in new venture capital funding, peHUB has learned. Norwest Venture Partners and Tata Capital (India) were joined on the deal by return backer Charles River Ventures, which had led a $9 million Series A round for Vanu last summer.

“The purpose of the round was working capital for expansion both here and in India,” says Andy Beard, chief strategy officer for Vanu. “We’re not saying much more right now, but will talk later this year about the motivation behind the round and what it means for our future plans.”

Promod Haque of Norwest Venture Partners will join the Vanu board of directors, which already includes CRV’s Bruch Sachs, Reed Hundt (former FEC chairman) and Ray Stata (Analog Devices co-founder).