Needham, Mass. - Bus Radio, a provider of radio broadcasts targeting school buses, has raised $10 million in its second round of venture capital, according to a report in Private Equity Week.

The investment was led by Charles River Ventures and included Sigma Partners, according to the report.

Massachusetts-based Bus Radio plans to offer its school bus radio service nationwide in 2007; the company is offering a percentage of its revenue to schools who agree to install its equipment on their buses.

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