Asocs, an Israel-based virtualised communications technology provider backed by IT manufacturer Fujitsu, has raised $10m of a $30m funding round, Calcalistech has reported.
The $10m figure includes commitments from investment firm Taylor Frigon Capital and Fornaciari Trust. Asocs expects strategic investors to help close the round, which also features undisclosed participants, by the first quarter of 2018.
Founded in 2003, Asocs operates edge-based communication systems for wireless networks that seek to offer high security and bandwidth. Mobile servers are physically installed near the client so data can be exchanged with the cloud separately and directly.
The cash will be used to expand Asocs’ business in the US and to develop 5G-compatible services.
Asocs raised $25m of capital in 2013, according to Calcalistech, securing capital from Fujitsu, Taylor Frigon, the Singaporean state-owned Vertex Venture Capital, investment firm Forum Group and Harel Hertz Investment House.
The 2013 round, which increased the company’s overall funding to between $35m and $40m according to Globes, followed an $8m round in 2008 led by FinTech Global Capital and backed by Vertex and Harel Hertz.
Individual investors Gideon Ben-Zvi, Daniel Recanati and George Gilder are also among Asocs’ backers.