Mistral raises $6.5 Million in second round funding
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Bangalore: Mistral Solutions, a product realization company in the embedded space, has raised $6.5 million in a second round of venture funding from Nexus India Capital and JAFCO Asia. The investment will help accelerate the company's global expansion and also facilitate its product and IP development initiatives. Naren Gupta from Nexus and Byron Askin from JAFCO Asia will represent the investors at Mistral. Naren Gupta is the Vice Chairman of Wind River Systems, the largest company in embedded systems software. Naren also serves on the Boards of some of the world's most innovative technology companies such as RedHat and TIBCO. Byron Askin is Senior Director and Head of South Asia and leads JAFCO Asia's investment efforts in the rapidly growing India market. "We see Nexus and JAFCO Asia adding a lot of value to the organization and its goals. Both the funds bring a wealth of resources and experience to the Mistral Management, which will assist us in building global relationships in U.S. and Asia Pacific markets. The funding will help the company in its plans for R&D investment for design of sub systems for the growing Indian defense market and setup of its design center in the U.S.", said Anees Ahmed, President and CEO of Mistral. "We see tremendous opportunities in the embedded product and service space and are excited to be partnering with an experienced and committed team", added Naren Gupta, Founding Managing Director of Nexus India Capital.

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