WiFi chipmaker Celeno Communications said it has raised $38 million in an investment round led by Red Dot Capital Partners along with a batch of new investors that includes Poalim Capital Markets, the investment arm of Bank HaPoalim, and OurCrowd.
Celeno, which has raised $106.2 million so far, said existing investors including Liberty Global, Cisco Systems, Pitango, 83North (formerly Greylock IL), Vintage, and Miven also participated in the round. Zvika Naggan, managing partner at Red Dot, has joined Celeno’s board.
Celeno said it will use the fresh funds for R&D and to accelerate growth following the launch of its 802.11ac Wave 2 product line and associated software technologies that are used in a range of home gateways, routers, and set-top boxes.
“With this significant new investment round, combined with the calibre 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,” Gilad Rozen, CEO of Celeno, said in a statement.
Celeno was founded in 2005.