Israeli chipset co Sckipio raises $10m

Startups

The additional investment will be used to support the global rollout of Gfast with tier-1 service providers.

Israeli Gfast chipset developer Sckipio Technologies announced that it has closed a $10 million financing round led by semiconductor company MegaChips. Intel Capital, Pitango Venture Partners, Genesis Partners, Gemini Israel Ventures, Amiti Ventures, Aviv Ventures, CIRTech Fund and Axess Ventures also invested in the round. The additional investment will be used to support the global rollout of Gfast with tier-1 service providers. The company has raised $50 million to date.

“We see a tremendous global opportunity for Gfast and see Sckipio as the leading player,” said Akira Takata, MegaChips president and CEO. “Of equal importance, MegaChips has a long history working with Sckipio executives and believes strongly in the company’s team, technology, vision and execution.”

“The Sckipio team has incredible technological foresight and knows how to bring true innovations to the market,” said David Baum, Sckipio CEO. “The new investment will fund R&D at the level required to be a continual leader in the Gfast market.”

The Ramat Gan-based company was founded in 2012 by Baum, CTO Rami Verbin, COO Oren Mansour and VP R&D Ron Sterenson.

Published by Globes [online], Israel business news - www.globes-online.com - on May 8, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

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