Samsung’s corporate venturing unit has backed Stoke, a US-based developer of mobile broadband gateways, in a strategic investment.
Samsung Ventures invested $5m in Stoke, taking it to $97m raised in its history, according to news provider VentureWire. A Stoke spokeswoman confirmed the deal and said it was issuing a press release shortly.
Stoke had previously raised $92m in capital over five rounds with the latest investment coming in a $17m series E round in January last year. Investors include several venture capital firms as well as corporate venturing units Docomo Capital, Reliance Technology Ventures and Presidio Ventures, which represents the Japan-based Sumitomo Corporation.