Israel-based wireless technology developer Celeno Communications raised $38m yesterday in a round featuring media group Liberty Global and networking equipment maker Cisco.
Red Dot Capital Partners, a $150m vehicle funded by the Singaporean government, led the round, which included Poalim Capital Markets, the venture capital arm of financial services firm Bank HaPoalim, OurCrowd, Pitango Venture Capital, 83North, Vintage Investment Partners and Miven Venture Partners.
Founded in 2005, Celeno produces wifi chipsets that are integrated in routers and set top boxes manufactured by more than 75 original equipment manufacturers across the world, as well as the software to manage those chips.
The money will go to accelerated international growth, increased investment in research and development efforts and the launch of new products. The company also intends to boost its sales and marketing activities.
Bruce Dines, partner at Liberty Global Investments, by email said: “We have been an investor since 2011, and began using their products in 2013. We still remain one of their largest customers, and they continue to evolve their products in interesting new and innovative ways. Great company!”
Celeno has now raised approximately $106m in total. It secured $24m in a 2012 series E round led by Vintage with participation from Cisco, Liberty Global, 83North (then known as Greylock IL) and Pitango.
Cisco initially invested as part of Celeno’s $16m series C round in 2008, which it led, participating alongside Miven Venture Partners, Greylock and Pitango. The four were joined by Liberty Global for a $12m round two years later.
Gilad Rozen, Celeno’s CEO, said: “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.
“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.”
– This story was adapted from an article on our sister site, Global Government Venturing. Image courtesy of Celeno Communications.