Siklu Secures Additional $18M in Series D
FAIR LAWN, NJ, Global market leader in the millimeter-wave technology, announced today that it has closed $18 million in Series-D funding.
FAIR LAWN, NJ, Siklu Inc., the global market leader in the millimeter-wave technology, announced today that it has closed $18 million in Series-D funding to further accelerate the company's already impressive growth and market leadership. The new investor in this round Sercomm Corporation (TWSE: 5388), was joined by existing investors Argonaut Private Equity, Evergreen Venture Partners, DFJ Tamir Fishman Ventures, Qualcomm Ventures (NASDAQ: QCOM), The Tamares Group and Amiti Ventures.
'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,' said James Wang, President and CEO, Sercomm. 'The strategic partnership we are building with Siklu will enable both our companies to enter new markets, which are expected to grow exponentially'.
According to research firm MarketsandMarkets, the global millimeter wave technology market is expected to grow by 42.7% CAGR to $1.7 billion by 2020. Siklu is poised to capture this market through a range of competitively-priced solutions in areas such as video surveillance, Wi-Fi backhaul and access to residential Multi-Dwelling-Units (MDU). Siklu's mmWave solutions and technology already provide thousands of fiber extensions for 3G/LTE telecommunication networks and business connectivity.
'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,' said Anil Khatod, Managing Director, Argonaut Private Equity. '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,' added Mr. Khatod.
'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,' said Izik Kirshenbaum, Co-Founder, Chairman and President, Siklu. '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'.
With this new funding and partnership, Siklu will continue to disrupt the mmWave market with technology not only capable of carrying out the ambitious goal to provide Gigabit To The Home (GTTH), but also of providing important building blocks for 5G mobile access deployed in the millimeter wave spectrum.
Siklu delivers Gigabit capacity millimeter wave wireless connectivity operating in the 60, 70/80 GHz bands. Its millimeter wave technology is the prime choice of leading integrators and network operators worldwide. With maximal availability and minimum footprint, thousands of carrier-grade units delivering interference-free performance have been successfully deployed. Siklu's innovative all-silicon design has dramatically reduced prices and effectively opened the market for ultra-high capacity wireless links. Siklu's palm-sized radios provide reliable street level and rooftop connectivity solutions for diverse urban and enterprise networks. Siklu solutions have proved to be ideal for networks requiring fast and simple deployment of secure, high capacity and future-proof connectivity. Visit www.siklu.com.
Sercomm Corporation is a worldwide leading manufacturer of broadband and wireless networking equipment. Founded in 1992, Sercomm has been focusing on developing embedded solutions to make networking simple and affordable. Headquartered in Taipei, Taiwan, Sercomm's global operation network covers markets of North America, Europe and Asia Pacific, and its customer base includes the world's top ODMs, telecommunication vendors and system integrators. Listed on Taiwan Stock Exchange (TWSE:5388), Sercomm posted sales revenue of NT$23.2 BN in 2014 (approximately US$763 MN). For more information, please visit www.sercomm.com .
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