– ISRAEL, Raanana – 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.”
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