Israeli startup Celeno Communications, a CSI Awards Finalist, has raised a $38 million in funding led by Red Dot Capital Partners, a fund backed by Singapore state investor Temasek Holdings.
Founded in 2005 by CEO Gilad Rozen, Celeno’s data and 4K video stretch the limits of the home network, an issue Celeno’s technology addresses via its advanced 11ac Wave 2 chipsets, smart Wi-Fi management and multi-AP small cell architecture to provide the seamless, convenient Wi-Fi service which reducing churn and operational expenditure for operators.
supplies chips and software technology for managed WiFi apps.
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New investors participated in the current round, including Poalim Capital Markets, and the OurCrowd investment fund. Previous investors also took part, including Liberty Global, Cisco, Pitango Venture Capital, 83North (formerly Greylock Israel), Vintage Investment Partners, and Miven. According to figures from the IVC databse, Celeno has raised $107 million since it was founded, including the round announced today.
Celeno has 120 employees, including 85 in its Ra’anana headquarters. The company also has representatives in the US, Europe, and Asia. Celeno today said that it would use the money raised to recruit 20 employees in a variety of areas, among other things. Market sources believe that the company’s annual turnover is in the high tens of millions of dollars. At the same time, a source close to the company declined to comment on the question of whether it was making a net profit.
CEO Rozen said, “With this new round we have taken Celeno to the next level and are able to further accelerate our growth and expansion in the market as well as focus on enhancing R&D efforts and further developing our disruptive solutions.”
Red Dot, founded early this year, is controlled by Temasek Holdings, a Singapore government company. The fund, managed by Yoram Oron, Nagan, and Yaniv Stern, four months ago led a financing round by Israeli e-commerce startup Global-e.
