Stoke Inc., a Santa Clara, Calif.-based maker of convergence gateways for fixed and wireless broadband access technologies, has raised an undisclosed amount of new funding led by Reliance Technology Ventures Ltd., the corporate VC arm of India’s Reliance ADA Group. Return backers included Kleiner, Perkins, Caufield & Byers, Sequoia Capital, Integral Capital Partners and DAG Ventures. Prior to this round, Stoke had raised over $50 million.
Reliance Technology Ventures Limited (RTVL), the corporate venture capital arm of the Reliance ADA Group, has invested an undisclosed amount in Stoke, Inc (Stoke). RTVL is a 100% subsidiary of Reliance Capital Ltd.
1. Stoke was started in 2004 and 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. These experiences would include video, music, gaming, location, voice and data services.
2. Stoke’s platform is the industry’s first multi-access convergence gateway designed from inception to solve the security, quality of service and mobility challenges associated with optimizing subscriber sessions within and across different broadband access alternatives.
3. The co-investors along with Reliance Technology Ventures Ltd include existing investors namely Kleiner Perkins Caufield & Byers, Sequoia Capital, Integral Capital Partners and DAG Ventures.
According to Harshal J Shah, CEO of RTVL, “Stoke’s technology is a strong enabler of fixed-mobile convergence applications. Stoke provides highly versatile and innovative, carrier-class solutions specifically engineered to help operators realize the economic benefits and competitive advantages of network convergence. Its multi-access convergence gateway enables enhanced service creation and billing lets operators unlock all of the value in their diverse access networks.”
“This investment from RTVL is a testament to the strength and promise of Stoke and our solution in helping global operators transition to the next generation network edge,” said Vikash Varma, President and CEO, Stoke Inc. “Reliance Communications is illustrative of today’s successful communications providers, combining forward thinking on network evolution and global ambitions and seeing fantastic results. We are very pleased to be working with Reliance ADA Group.”