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The Weekly Notable Startup Funding Report: 8/7/23 – AlleyWatch

The Weekly Notable Startup Funding Report: 8/7/23 – AlleyWatch
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Networking Startup Nile Raises $175 Million to Challenge Cisco

Networking Startup Nile Raises $175 Million to Challenge Cisco
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Networking startup Nile raises $175 million to challenge Cisco

Nile, a networking startup co-founded by former Cisco Systems executives John Chambers and Pankaj Patel, has raised $175 million in a new round to fund its efforts to build a Cisco competitor, the company said. The new round, co-led by March Capital and Saudi Arabia's sovereign wealth fund, Sanabil Investments, also attracted corporate investors including the venture capital arms of Saudi Telecom Company and Liberty Global.

Saudi arabiaNew yorkUnited statesNick macfieJohn chambersPankaj patelSumant mandalCisco systemsSaudi telecom companyStanford universityJuniper networksMarch capitalSanabil investmentsJose based nileHewlett packard enterprisePankaj patel