The Fabric, a Palo Alto, CA-based incubator that backs networking startups, raised $10m in funding.
According to the WSJ, 15 backers including Sand Hill Angels and Hitachi Ltd invested in the incubator.
Co-founded by Rajan Raghavan, CEO, Prabakar Sundarrajan and Sumant Mandal, The Fabric invests $1m-$1.5m in the company at the seed stage and help entrepreneurs put together a syndicate for later rounds of financing.
It also leverages a technology innovation lab at Chennai India, which develops core networking technologies and also creates development centers for each of their companies.
Startups will also receive support from advisors from a network of technology and business experts and office space in downtown Palo Alto.
FinSMEs
11/10/2013