Celeno Communications, a start-up based in Israel, raised $38 million in new funding for its semiconductors for multimedia Wi-Fi networking.
Celeno's portfolio includes its 802.11ac Wave 2 product line and software technologies.
The new funding 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.
“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.”