Tuesday, August 1, 2023

March Capital Leads $175M Investment In Nile

Los Angeles-based venture capital investor March Capital is the co-lead investor in networking equipment maker Nile, a startup founded by former Cisco Systems' CEO John Chambers, in a $175M, Series C funding. Nile said it raised the new funding round from March Capital and Sanibil Investments, along with solutions by stc, Prosperity7, Liberty Global Ventures, and stc CIF (Corporate Investment Fund), plus 8VC, Geodesic Capital, FirstU Capital, and Valor Equity Partners. Nile has now raised $300M in total. March Capital's Sumant Mandal wrote about Nile last year, and Nile was co-founded by Pankaj Patel, who was previously March Capital's Venture Partner and Strategic Advisor. Nile says it is developing a "network-as-a-service" product which it says will provide "a more secure wired and wireless service through the extensive use of monitoring, analytics, and automation."