US-based wireless communication company Fastback Networks raised $15m yesterday in a series C round featuring Junos Innovation Fund, the corporate venturing arm of networking technology provider Juniper Networks.
Harmony Partners led the round, which also included Foundation Capital, Granite Ventures and Matrix Partners, all of which took part as returning investors.
Juniper has already participated in Fastback’s $15m series B round in 2013, which included Matrix, Foundation and Granite, after investing in Fastback’s $11m series A round in 2011 alongside Foundation and Granite.
Fastback has developed backbone technology for LTE networks, which enable high-speed data transfer for mobile phones. It will use the fresh funding to scale the company as demand for its product increases.