July Systems gets $10-m from Motorola

BANGALORE: July Systems, a provider of smart mobile retailing technology, announced that it has secured $10 million in Series C funding.

Motorola Ventures, the venture capital arm of Motorola Inc., led the new round of investment along with existing investors Charles River Ventures, NeoCarta Ventures, WestBridge Capital Partners, Jumpstartup and SVB Financial Group. Reese Schroeder, a managing director of Motorola Ventures has joined the Board of Directors of July Systems.

"Motorola invests in innovative companies like July Systems to bring cutting-edge products and solutions to market," said Warren Holtsberg, Motorola's corporate vice president, Equity Investments.

"Smart mobile retailing technology aligns perfectly with Motorola's vision of Seamless Mobility -- seamlessly linking people, information and devices while they move about their everyday lives," he added.

"This new round of investment led by Motorola Ventures along with our

existing investors is a strong validation of July's product and market

strategy to date," said Ashok Narasimhan, chairman, CEO & co-founder, July

Systems.

"I expect our recently announced partnership with Motorola, as

well as our other ongoing mobile retailing technology initiatives, to

deliver exceptional progress for July and its stakeholders in the coming

months."

This new round of funding will be used to strengthen July's global sales

and marketing effort in the US and Europe, and to accelerate July's

ongoing and new product initiatives in the area of its mobile marketplace

solutions for smart mobile content retailing.