Lavelle Networks, which offers a networking platform for enterprises, has raised $2 million (Rs 13.7 crore at current exchange rate) in a Series A round of funding led by deep-tech early-stage investor YourNest Venture Capital and joined by existing investors Ideaspring Capital, KAAJ Ventures and ASM Technologies Ltd.
Lavelle provides Network as a Service, using cloud to automate and secure enterprise networks. The company offers a Software-Defined Networking (SDN) platform for companies using a Wide-Area Network (WAN) extending over large geographical distances.
Shyamal Kumar, chief executive of Lavelle Networks, said in a statement issued by the enterprise networking firm, “We are tremendously excited to partner with YourNest as we work to bring cutting-edge enterprise networking at transformative economies of scale to emerging economies. Back in 2017, Ideaspring had joined hands with us.” Kumar founded the company in 2015 with Karthik Madhava. The firm had raised $600,000 from Ideaspring in 2017.
The Software-Defined Wide-Area Network or SD-WAN segment in the Indian market is poised to achieve a size of $250-500 million in the next five to seven years, according to the statement.
Sunil K Goyal, managing director and fund manager at YourNest, said, “In the next two years, our focus through our second fund will be to identify nearly 20 deep-tech product companies that could be nurtured into market leaders globally.” He added, “We are well on track to achieve this vision with Lavelle Networks joining our growing portfolio. It has shown great potential for enterprises where legacy network platforms are increasingly becoming a business bottleneck.”