RA'ANANA, Israel, September 7, 2016 /PRNewswire/ --
Celeno Communications, a leading provider of smart managed Wi-Fi chipsets and software technology, today announced that it has closed a new investment round of $38 million to drive its rapid growth and expansion. The round was led by Red Dot Capital Partners, a capital fund focused on growth stage investments funded by Temasek, an investment company based in Singapore, through its enterprise development unit. Additional new investors are Poalim Capital Markets, the investment arm of Bank HaPoalim, the largest financial banking group in Israel, and OurCrowd. Existing investors including Liberty Global, Cisco, Pitango, 83North (formerly Greylock IL), Vintage and Miven also participated in the round. Zvika Naggan, Managing Partner at Red Dot has joined Celeno's Board of Directors.
Celeno will use the funds to support its accelerated growth following the remarkable success of its 802.11ac Wave 2 product line and disruptive software technologies, which have established Celeno as a significant industry player. The funds will enable Celeno to further increase its investment in new technology and R&D activities, as well as expand its global presence and increase its sales and marketing endeavours to support the growing demand for its solutions.
Celeno's solutions continue to gain market traction with tens of millions of its Wi-Fi chipsets being deployed by top tier service providers in home gateways, routers and set top boxes designed by leading global OEMs.
"Celeno has made the crucial transition from an innovative, disruptive start-up to a global player alongside some of the Wi-Fi semiconductor industry's largest players and the solution of choice for many of the most important global service providers," says Mr. Naggan. "The growth and worldwide market presence that Celeno has established over time is remarkable, and a testament to their approach and the quality of their products. Celeno's track record speaks for itself and Red Dot is excited to join the company as it grows and establishes itself as a formidable player in this space."
"With this significant new investment round, combined with the calibre of investors backing us, we are able to continue executing our strategy, building a world class global company that will bring value to investors and shape the industry as a market leader," says Gilad Rozen, CEO of Celeno. "With this new round we have taken Celeno to the next level and are able to further accelerate our growth and expansion in the market as well as focus on enhancing R&D efforts and further developing our disruptive solutions."
About Celeno Communications
Celeno is the leading provider of smart, managed Wi-Fi solutions. Celeno's extensive 802.11ac chip portfolio and ground-breaking software technologies are designed to excel in real life, highly-interfered dense network scenarios, delivering the level of management, performance, speed, coverage, reliability and superlative user experience demanded by Wi-Fi users. Celeno's field-proven chips and software technology have been successfully integrated into numerous OEM Wi-Fi devices and have been deployed in tens of millions of homes around the world by almost 100 leading service providers worldwide. Founded in 2005 and backed by blue chip investors, Celeno is a well-established company headquartered in Ra'anana, Israel, with a global presence and offices in the US, EMEA and Asia Pacific. For more information, please visit http://www.celeno.com
SOURCE Celeno Communications