Celeno pockets $24M in investment round
Celeno Communications has lined its coffers with a $24 million round of funding to bring the Israel-based company’s total funding to more than $68 million.
With gobs of video downloaded and consumed around the home on various devices, Wi-Fi networks have needed to up their game. Celeno has been working on high-performance chips to enable the distribution of video streams, including HD, to set-top boxes, tablets, wireless TVs, DVRs, laptops and other devices.
Celeno’s strategy seems to be paying off, as existing investors Cisco, Liberty Global, Greylock Partners and Pitango Venture Capital took part in the latest investment round, along with newcomer Vintage Investment Partners.
Celeno said the funding would be used to further expand its 802.11ac development program, as well as increase the company’s sales, marketing and engineering teams to support customers throughout the world. Celeno’s chips have been deployed with more than 75 service providers worldwide, including Deutsche Telekom, Liberty Global, UPC, Bouygues Telecom and China Telecom.
“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 Gilad Rozen, CEO of Celeno. “Celeno, with its superior video-grade Wi-Fi OptimizAIR technology, is ideally positioned to capitalize on the increasing requirement by carriers seeking to offer consumers the high-quality video experience they demand on multiple screens throughout the home.”
Celeno’s OptimizAIR technology enables the distribution of up to eight 1080p HD resolution video streams. It includes channel-aware scheduling, rate selection, antenna selection and power adaptation for reliable throughput, extended range and low packet error rate. Celeno’s solution is client-agnostic and delivers HD performance to any third-party Wi-Fi client devices.