Wi-Fi chip and software developer Celeno Inc. has raised $24 million in its fifth financing round from current investors Greylock Partners, Pitango Venture Capital, Liberty Global, and Cisco Systems Inc. (Nasdaq: CSCO), and new investor Vintage Investment Partners. The company has raised $68 million to date.
Celeno CEO Gilad Rozen founded the company in 2005. It has 70 employees at its offices in Israel, the US, France, Korea, Japan, China, and Taiwan.
Celeno develops Wi-Fi chips and software for HD multimedia and high-performance data home networks. It will use the proceeds to further expand its 802.11ac development program, and to increase its sales, marketing and engineering teams to support its customers around the world. The company's chips have been deployed with over 75 service providers worldwide, including Deutsche Telekom, LLiberty Global, UPC, Bouygues Telecom, and China Telecom.
Celeno’s OptimizAIR technology, which builds on and optimizes standards-based Wi-Fi for best-in-class data and video home networking, enables the seamless and reliable distribution of up to eight 1080-pixel HD resolution video streams. The solution is client agnostic to deliver HD performance to any third-party Wi-Fi client devices for wireless distribution of HD video content to any screen in the home, including set-top boxes, tablet computers, wireless TVs, digital video recorders, media streamers, and laptops.
“The new funding comes at an exciting time in our industry as we move toward 802.11ac, the standard set to drive faster Wi-Fi in the home,” said Rozen. “Celeno will continue to increase its global footprint by offering outstanding Wi-Fi home networking technologies that ensure a superior quality of experience of HD video in the home."
Published by Globes [online], Israel business news - www.globes-online.com - on September 27, 2012
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