Multimedia chip co Celeno raises $12m

Liberty Global participated in the round.

Celeno Communications Inc/, a developer of Wi-Fi chips for high-definition multimedia and entertainment home networking applications, has raised $12 million in a financing round. Liberty Global Inc. (Nasdaq: LBTYA), the world's second largest cable TV operator, participated in the round.

In September, Liberty Global selected Celeno’s Wi-Fi solution to power its multimedia home gateway product.

Previous Celeno investors Pitango Venture Capital, Greylock Partners, Miven Venture Partners, and Cisco Systems Inc. (Nasdaq: CSCO), also participated in the current round.

In addition to September's contract with Liberty Global, in July China's FiberHome Telecommunication Technologies Co. Ltd. chose Celeno's Wi-Fi system-on-a-chip (SoC) for optical network gateways for IPTV streaming. The solution will be installed at Shanghai Telecom Ltd’s new metropolitan fiber network. Celeno will reportedly earn tens of millions of dollars from processor sales from the two contracts over the next few years.

Liberty Global Ventures VP technology investments Bruce Dines said, "We invested in Celeno because of the company's unique technology, which is an essential building block for the delivery of wireless video content to set-top boxes and mobile devices. Celeno's technology is expected to be a key component of our cable set-top boxes."

Celeno president and CEO Gilad Rozen said, "Celeno's technology is currently the leader in the Wi-Fi home entertainment multimedia applications industry. It is achieving success among many service providers in the field worldwide. The current round will help Celeno expand the company's sales and marketing activity in order to increase its customer base worldwide, and to continue to develop leading technology in the market."

Rozen founded Celeno in 2005. The company currently has 50 employees, mostly at its development center in Ra'anana. The company has offices in Europe, the US, and Asia, and it is now hiring.

Published by Globes [online], Israel business news - - on November 15, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018