Bangalore-based Lavelle Networks, which offers Software Defined WAN (SD-WAN) Solutions to build end to end enterprise networking platforms, has raised US$2 million in series A round of funding led by YourNest Venture Capital. Other investors which also contributed in the round include Ideaspring Capital, KAAJ Ventures (B V Jagadeesh), and existing investor, ASM Technologies Ltd.
The fresh funding will accelerate Lavelle Networks’ rapid expansion programme in FY20 into key digital transformation market opportunities, according to the company statement.
Earlier in October last year, Lavelle Networks had raised about Rs.2 crore from ASM Technologies and prior to that it had raised undisclosed amount in seed funding from ShoreTel, a US-based telecommunications vendor providing unified communications for business.
To date, the startup has raised a total of about $4M in funding over four rounds including this one.
Funded in 2015, by Karthik Madhava, Shyamal Kumar and Vishal Khare, Lavelle Networks offers an SDN networking platform that solves the biggest challenges in wide area network (WAN) for distributed enterprises. Its Network-as-a-Service – uses the cloud to automate, optimise and secure enterprise networks using next generation traffic analysis.
Software-defined networking in wide area network (SD-WAN) simplifies the management and operation of the enterprise’s network. While, the SD-WAN market in India is still at a nascent stage, it is expected to become a USD 250-500 million opportunity in the next 5-7 years as per estimates.
The global SD-WAN market size is expected to grow from USD 1.0 billion in 2018 to USD 4.1 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 32.7% during the forecast period.
Source – Economic Times (ET Tech)
[Top Image – Founders of Lavelle Networks Karthik Madhava (L) and Shyamal Kumar | Credit – Yourstory.com]
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