Naseeb Networks is announcing that they have closed a Series B VC Funding round with two investors – ePlanet Ventures and Draper Fisher Jurvetson. Naseeb is planning to use the money to both expand their sales and marketing into other markets, and also expand their product portfolio.
ePlanet Ventures has an excellent VC Track record, being key investors in Baidu and Skype, and it is nice to see them invest in Naseeb Networks / Rozee.
I am not sure if this investment was officially made into Naseeb Networks Lahore or Naseeb Networks, Silicon Valley, but this may be the first ePlanet Ventures investment into a company with a significant business presence in Pakistan.
The venture amount is not being disclosed, but I know this was in the range of any standard Series B round, which puts this in the US $10MM – 20MM range.
Good job Naseeb.
Monis Rahman will be on the Panel of the 2nd Startup Insiders session in Lahore — take that opportunity to ask him all about fund raising.