* BA Systems -- Just four months old, this San Jose, Calif. company is so stealthy that we have little idea what it's doing. Bessemer Venture Partners led its $880,000 series A round. Founder P.J. Singh has been an entrepreneur-in-residence at Bessemer since 2003. Previously, he founded router maker Allegro Networks and gigabit Ethernet company Packet Engines. Could another communications equipment play be in the offing?
* Teneo Systems -- Founded in December, this stealth startup appears to be funded entirely by its founders, whose past ventures likely supplied them with the means. Venkat Rangan is the former founder and chief technology officer at Yodlee.com, and Charu Rudrakshi is the former VP of engineering at BizRate.com. They put $4 million into Teneo in February.
Arun Natarajan is the Editor of TSJ Media, which tracks venture capital activity in India and Indian-founded companies worldwide. View sample issues of TSJ Media's Venture Intelligence India newsletters and reports.