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Anil finance firm dials US number

Mumbai, Dec. 22: Reliance Technology Ventures Ltd, the venture capital arm of the Anil Dhirubhai Ambani group, has invested in Stoke Inc of the US.

Stoke is a telecom solutions provider that helps operators solve security services problems.

However, financial details of the deal are not known.

Along with RTVL, other investors who have invested in Stoke include the US-based venture capital funds Kleiner Perkins Caufield & Byers, Sequoia Capital, Integral Capital Partners and DAG Ventures, a company statement said. RTVL is a subsidiary of Reliance Capital Ltd (RCL).

“Stokes technology provides highly versatile and innovative solutions specifically engineered to help operators realise the economic benefits and competitive advantages of network convergence,’’ Harshal J. Shah, chief executive officer of RTVL, said.

Stokes, which commenced operations in 2004, caters to fixed, wireless Wi-Fi networks through a single integrated solution.

RTVL has advised and invested in deals worth more than $1 billion. This is the second investment of RTVL in the US telecom space. Earlier this month, the company had invested $10 million in E-Band Communications Corporation (EBCC) that makes ultra-high capacity wireless communications systems.

EBCC was started in 2003 to develop high capacity wireless communications systems for a spectrum that was recently licensed by the US Federal Communications Commission (FCC) for commercial communications.

It has an exclusive licence agreement to co-develop products and communication systems with the $30-billion Northrop Grumman Corporation, one of the world’s largest defence, aerospace and technology companies.

Some of RTVL’s other investments include Yatra.com, the country’s largest on-line travel portal. It has also invested in Seedfund, which provides early-stage capital to start-ups in India.

RTVL, which was launched in 2006, invests in leading edge technologies both existing and new, and technology-enabled companies around the world.

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