Monday, December 8, 2014

Sckipio Raises $17 Million for Silicon

Sckipio Technologies, a start-up based in Israel, has raised US$17 million in a Series B round for its modem chipsets and software.

Sckipio's solution includes chipsets bundled with software for a variety of access and mobile backhaul applications based on the ITU G.9700 and G.9701 standards, to which Sckipio is a leading contributor.

The new funding was led by Pitango Venture Capital and combined with follow-on investment from the original Series A investors; Gemini Israel Ventures, Genesis Partners, Amiti Ventures and Aviv Ventures. This Series B round follows an initial investment of $10 million in the company.

“The market for is about to explode,” said Eitan Bek, General Partner, Pitango Venture Capital. “But what makes Sckipio a special opportunity is its combination of a world-class team, incredible technology and deep expertise in the market.”

“Sckipio intends to extend our leadership in,” said David Baum, Sckipio CEO. “The additional investment will help us move even faster, enhance our product offering more quickly, and provide working capital to scale production to meet the high demand for our solutions.”