Israeli Mobile Edge Computing (MEC) pioneer Saguna Networks has closed a $5 million financing round led by CE Ventures and supported by the company's existing shareholders. Saguna will use the funding to expand the company's MEC offering and global market presence. Based in Yokneam, Saguna Networks MEC systems make mobile broadband faster, simpler and more agile.
Saguna helps mobile operators improve user experience, network economics and monetization by bringing distributed cloud-computing into the Radio Access Network (RAN); as close as possible to mobile users. With Saguna's solution, mobile operators can deploy new revenue generating services for content delivery, Internet of Things (IoT), retail and enterprise applications.
The Company's standard-based MEC solution, Saguna Open-RAN, creates an open ecosystem and growth engine inside the RAN. The solution features fully-virtualized, scalable architecture adding value to 4G networks, 5G and HetNets.
"As an industry, we are just beginning to realize the power of cloud-computing deployed at the radio edge of mobile networks with the growth of Mobile Edge Computing," said Saguna Networks CEO and founder Lior Fite. "In the past 2 years, Saguna established a wide MEC ecosystem by partnering with market leaders including Akamai, CloudFlare, AMD, ADLINK, Juniper and Brocade. This round of funding will enable us to accelerate the execution our vision and expand our partner ecosystem."
"Saguna's Mobile Edge Computing leadership and advanced offering is well aligned with the pressing needs of mobile network operators worldwide," said Tayman Kan, Managing Partner of CE Ventures. "We are excited to support the Saguna team in pursuing new opportunities in Tactile Internet, Internet of Things and content delivery over existing 4G and new 5G networks. Innovative technologies like MEC will play an increasingly important role for mobile operators."
Published by Globes [online], Israel business news - www.globes-online.com - on May 23, 2016
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