$20M for Provigent in Fourth Round of Financing

Provigent, a leading provider of System-on-a-Chip (SoC) solutions for the broadband wireless transmission market, announced today that it has increased its fourth round of financing to $20 million.

The privately-owned company, which was founded in Israel in 2000 but is now headquartered in the U.S., makes products that “enable system vendors to rapidly develop cost-effective high performance broadband wireless transmission systems.” Their SoCs “offer an unparalleled combination of increased bandwidth, extended range and enhanced flexibility while lowering overall system costs.”

Their hottest product is the PVG310, “a complete state-of-the-art single chip modem that integrates all the physical-layer baseband functionality – modulation, demodulation and forward error correction – for point-to-point broadband wireless transmission.”

Ray Stata, who raised his equity fund’s initial investment from $1 to $4 million, said that Provigent’s “consistently growing and strong customer base is constant validation of its leading position as the merchant silicon provider in this growing market.”

CEO Dan Charash added that the “successful round of funding will enable Provigent to further accelerate its roadmap and market penetration.” “With an established economy of scale, significant R&D investments and a focused dedication to the broadband wireless transmission industry, Provigent continues to establish itself as the market’s leading SoC provider.

Other investors in Provigent include some of the biggest names in venture capital from Israel and abroad, including Sequoia Capital, Pitango Venture Capital and Dr. Andrew Viterbi, co-founder of QUALCOMM.

Check out the press release for more.


Europeans to Use Actelis Ethernet Platform

actelis.jpgAn Israeli telecommunications start-up has signed deals to provide its Ethernet in the First Mile (EFM) platform to Swiss-based Cyberlink and UK-based Telent Plc. Actelis Networks, which was founded in 1998 in Petach Tikva but is now based in Silicon Valley, is a leading provider of Carrier Ethernet over Copper™ networking equipment. Its EFM enables telecom service providers and private enterprise to deliver symmetrical Ethernet services up to 100Mbps per customer over multiple voice-grade copper pairs.

UK-based Telnet Plc, which supplies communications support services to various telecommunications operatorsin the U.K. and Germany, has signed a full service partnership agreement with Actelis that allows the company to sell, service, and fully support Actelis Network’s portfolio over copper products.

Yaron Altit, VP of European Sales at Actelis said he is “delighted to be working with such an experienced and professional organization as Telent to supply and completely support our growing number of carrier Ethernet over copper deployments in the region.”…”With its impressive logistics facility in the U.K., complemented by their professionally trained staff, Telent can provide Actelis’ EFM products and services to our larger service provider customers throughout Europe.”

Just one day later Actelis announced that Swiss-based internet service provider Cyberlink will also use its ethernet platform to offer new Ethernet/IP-based voice, video and hosted data services to business customers in metropolitan areas throughout Switzerland.

Beat Tinner, founder and president of Cyberlink said: “The Actelis solution gives us the ability to deliver the higher connectivity and business-class broadband services our customers are requiring to conduct their business more efficiently and economically.” It “provided us with a system that installed quickly, seamlessly integrating into our network and enabling us to reach more customers than we thought possible.”

Ramon Amat, CEO of Cyberlink also noted that “Actelis’ EFMplus technology helps us to troubleshoot older installations quickly, reducing our maintenance costs drastically” and “provides us with a pragmatic approach to upgrading our legacy installations to Ethernet, while future-proofing our network to deliver high-bandwidth applications.”

For the full details see the Actelis press release on Telent and the press release on Cyberlink.

Brazilian Optics Giant Buys Civcom for $40M

civcom.jpgNot only Microsoft is buying up Israeli start-ups. Brazilian optical network solutions giant Padtec has paid $30-40 million for Civcom, an Israeli pioneer in the development and manufacturing of cost saving optical solutions for communications, test and measurement, and military applications. The move comes on a wave of rapid expansion for Padtec as it seeks to become a major player in the international optical communications market.

According to Jorge Salomão Pereira, CEO and Head of Technology Division at Padtec, “The Civcom acquisition is much more than a typical company acquisition. It represents a great opportunity to offer competitive solutions to the high speed optical communication market.”

Meron Raz, CEO of Civcom, adds that the acquisition will “will increase [Civcom’s] worldwide market share and will add leading knowledge and more capability” to their products and technology.

That buyout doesn’t exactly break the bank for Civcom’s investors Pitango, JVP, Concord, Ascend, Formula, and Morris Kahn’s Aurum Ventures. They invested nearly $38 million in the company.

But hey, you win some, and you break even on others.

For more on this check out Padtec’s press release or an interview with the Padtec CEO.