- General
- November 9, 2020
- 3 minutes read
Intel, Qualcomm Back Cellwize
Cellwize, a mobile network automation startup, has raised $32 million in Series B funding co-led by Intel Capital and Qualcomm Ventures,…
Cellwize, a mobile network automation startup, has raised $32 million in Series B funding co-led by Intel Capital and Qualcomm Ventures, the respective investment arms of chip giants Intel and Qualcomm, with participation from Verizon Ventures and Samsung Next. The deal marks a significant one for Cellwize, given it’s now backed by four big names from the chip and telecoms industries.
Cellwize is a platform that automates processes for carriers to deploy 5G networks. The company is looking to ride the wave of a nascent 5G industry that’s poised for huge growth. With the new round, Cellwize has now raised a total of about $56 million in outside equity and debt funding.
Cellwize says it’ll use its new funds to expand its global footprint and enter into new markets. The company is based out of Israel but also has operations in Dallas and Singapore. Initially, Cellwize was a platform that enabled network carriers to reconfigure their networks. That was before 2016 when telecoms firm Bell Canada requested automation capabilities from the company and saw it build a platform that became its core product.
Currently, Cellwize offers its services for only public networks but is, however, looking at compatibility with private networks. As part of expansion efforts, Cellwize will further build out its network automation platform to provide better value to customers.
The new investors who participated in Cellwize’s new round joins existing shareholders in the company including Viola Ventures, Vintage Investment Partners, and Sonaie IM.
