Juniper Networks’ corporate venturing arm Junos Innovation Fund has joined a $15m series B investment round into wireless communication company Fastback Networks. Matrix Ventures, the venture capital firm, led the round, in which Foundation Capital and Granite Ventures also participated.
Fastback is developing technology for fast wireless data transfer, which is being trialled by major mobile network and services operators, according to the company. Juniper Networks builds and maintains communications networks and invests strategically through its Junos Innovation Fund, recently taking stakes in a number of media and telecoms-related startups, including iStreamPlanet, which allows companies to stream live video.
Fastback raised $11m in a series A in 2011, backed by Foundation Capital, Granite Ventures and Junos Innovation Fund.