The company develops WiFi multimedia components and systems for home wireless networks.
Israeli start-up Celeno Communications Ltd. has closed its second financing round, raising $14.2 million. Pitango Venture Capital and Greylock Partners led the round and were joined by the company's existing investors. The company has raised $2 million from a number of undisclosed private investors since it was founded in 2005.
Celeno develops develops WiFi multimedia components and systems for home wireless networks. The company's technology enables service providers to quickly and simply deploy wireless home networks that can securely deliver multiple HDTV and SDTV streams as well as VoIP and multimedia content throughout the home. Its potential customers are telecommunications carriers and cable and satellite operators.
Celeno enables telecommunications providers to offer home users integrated telephony and Internet services and wireless connectivity between the computer and television thereby eliminating the need for the installation of further infrastructures. The funds raised in the latest round will enable the company to continue product development and expand its marketing operations.
Published by Globes [online], Israel business news - www.globes.co.il - on March 18, 2007
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