Israeli wifi startup receives $38m from Singapore’s Red Dot investment fund
Celeno, an Israeli wifi startup that makes chips for high speed connectivity and is based in Ra’anana, has announced a hugely successful Series F funding round of $38m.
According to reports on Geektime, the funding round was led by Temasek-backed Red Dot Capital Partners, and included new investors such as Poalim Capital Markets and OurCrowd, as well as the returning Liberty Global, Cisco, Pitango, 83North, Miven and Vintage.
The news brings Celeno’s total funding amount to $106.2m.
In a statement, Celeno’s CEO Gilad Rozen said, “With this significant new investment round, combined with the caliber of investors backing us, we are able to continue executing our strategy, building a world class global company that will bring value to investors and shape the industry as a market leader.
“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.”
As an investment fund Red Dot, is relatively new. In fact, it was only announced in February this year. The $150m fund, which is operated by Singapore’s state owned Temasek investment firm, is dedicated solely to providing funding to mature Israeli startups.
Zaikai Naggan, Red Dot’s managing partner, said, “Celeno has made the crucial transition from an innovative, disruptive start-up to a global player alongside some of the wifi semiconductor industry’s largest players and the solution of choice for many of the most important global service providers.”