Starent Networks, a start-up based in Tewksbury, Massachusetts, closed $23 million in third round financing for its intelligent mobile infrastructure solutions. Starent’s ST16 Intelligent Mobile Gateway sits between a mobile network and a core IP network. The gateway can be used to provision data, voice and integrated voice and data services. Previous investors Matrix Partners, North Bridge Venture Partners and Highland Capital Partners participated in this round. In addition, Samsung Electronics joined as a strategic investor.
http://www.starentnetworks.com
- In November 2001, Samsung Electronics selected Starent’s Intelligent Mobile Gateway platform as a key element for their CDMA2000 network offerings.
- Starent Networks was founded in August 2000 and is led by Ashraf Dahod, whose previous companies include Applitek (later renamed LANCity), acquired by Bay Networks in 1996, Sigma Network Systems, acquired by SMC in 1992 and NetCore Systems, acquired by Tellabs in 1999.