Bengaluru: New Jersey and Israel-based millimeter wave technology provider Siklu raises $18 million in Series D round of funding from investors including Sercomm Corporation, Argonaut Private Equity, Evergreen Venture Partners, Qualcomm Ventures, DFJ Tamir Fishman Ventures, The Tamares Group and Amiti Ventures. The company is expecting to deploy the latest funding to accelerate its growth by providing Gigabit to the Home (GTTH) and improve its mmWave market position. The firm also aims to build blocks for 5G mobile access deployed in the millimeter wave spectrum.
Incorporated in 2008 by industry veteran Izik Kirshenbaum, Siklu provides wireless communications which delivers mmWave solutions, including video surveillance, Wi-Fi backhaul and entree to residential Multi-Dwelling-Units (MDU). Through its magic in the air, the company’s products officially cover thousands of fiber extensions for 3G/LTE telecom systems and business network.
Concerning the company, James Wang, President & CEO, Sercomm says, “Siklu approaches network connectivity in an entirely different way, packing cutting edge technology into mass market products. We believe in the company’s potential to be a bellwether of change for the future of wireless networks. The strategic partnership we are building with Siklu will enable both our companies to enter new markets, which are expected to grow exponentially”.
Anil Khatod, Managing Director, Argonaut Private Equity says, “As a founding investor in Siklu, we are extremely pleased with the recent breakthroughs the company has achieved, with one major deal already signed, and a number of others in various stages of maturity. We believe Siklu will continue to craft and deliver customer value propositions in the high capacity wireless networking arena”.
“ Siklu solutions are already deployed across the globe, from the U.S. and Europe to emerging markets such as Eastern Europe, Russia, Latin America and Asia, to provide a wide range of connectivity solutions; from mobile, small cell and Wi-Fi backhaul, to video surveillance and fiber to the home connectivity,” he noted.
Speaking about the latest funding, Izik Kirshenbaum, Co-Founder, Chairman & President, Siklu says, “This additional funding is a great vote of confidence in Siklu’s vision and execution. The company’s exceptional connectivity solutions enable customers to swiftly expedite capacity increase, while supporting efficient business models. We will use this funding to further strengthen our market leadership, and to extend our reach into new markets and geographies. We are delighted to be partnering with a leading world-renowned ODM, such as Sercomm, and believe that together we will be able to create innovative solutions at a price that will unlock markets, otherwise inaccessible to this type of technology”.
According to the research market firm, MarketsandMarkets demonstrates that the worldwide millimeter wave technology sector is expected to grow up by 42.7 percent CAGR to $1.7 billion by 2020. Siklu is ready to catch this business through a range of intensely estimated arrangements in different territories.