ECI spin-off Celtro raises $2.7m

The company develops switching solutions for mobile carriers.

31 August 10 17:28, Yaniv Magal

Mobile switching solutions developer Celtro Ltd. has raised $2.7 million in its fourth financing round, Israel Venture Research Center reports. The investors were Genesis Partners, Cedar Fund, and US fund, Rho Ventures. Celltro has raised $48 million today.

Celtro was founded in 2003 as a spin-off of ECI Telecom Ltd. to develop and market switching solutions for mobile carriers. The company raised $20 million in 2008, but it was it hard by the global economic crisis and laid off 20 employees.

Published by Globes [online], Israel business news - www.globes-online.com - on August 31, 2010

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