Israeli mobile network optimization and management company Cellwize has announced the completion of a $32 million financing round led by Intel Capital and Qualcomm Ventures and with the participation of new investors Verizon Ventures and Samsung Next as well as previous investors. The company raised $24.5 million in its last financing round in 2015.
Cellwize has 150 employees of whom 80 are working in Israel where the company is headquartered and has its development center. With the new funds, the company plans hiring dozens more employees in Israel including developers, radio engineers and automation professionals.
Cellwize was founded in 2013 by Sasi Geva and Daniel Dribinski, who have since left the company, which is today managed by Ofir Zemer. The company's customers include the world's largest telecom operators like Verizon and Deutsche Telekom. Cellwize's platform enables, among other things, shortening the time required to integrate a new cellular cite into an existing network
Cellwize COO Dan Weil told "Globes," that the new funds will be used to increase the company's operations with both existing and new customers with the deployment of 5G networks by operators worldwide. He said, "5G networks in the US require deploying antennae every 100-150 meters instead of every few kilometers, thus making the network much more complex. In addition, telecom operators are trying to reduce costs by using telecom equipment that comes from different suppliers and this also adds complexity. Our tools come into their own in complex situations and so we have a great engine of growth."
Published by Globes, Israel business news - en.globes.co.il - on November 9, 2020
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