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Tech Industry

Megisto Systems raises $21.6 million

Megisto Systems on Monday announced it raised $21.6 million toward its second round, led by Norwest Venture Partners. Other investors include New Enterprise Associates and previous investors Columbia Capital, Bessemer Venture Partners and Lucent Venture Partners. Germantown, Md.-based Megisto plans to raise an additional $17.7 million for the round in the next several months. Megisto develops hardware it sells to telecom companies, which is used to connect mobile wireless subscribers to different data services. The company has raised a total of $33.6 million.

Megisto Systems on Monday announced it raised $21.6 million toward its second round, led by Norwest Venture Partners. Other investors include New Enterprise Associates and previous investors Columbia Capital, Bessemer Venture Partners and Lucent Venture Partners. Germantown, Md.-based Megisto plans to raise an additional $17.7 million for the round in the next several months. Megisto develops hardware it sells to telecom companies, which is used to connect mobile wireless subscribers to different data services. The company has raised a total of $33.6 million.