Siklu Secures New $18M Funding Round; Sets Sights on Video Surveillance Market
The provider of high capacity wireless connectivity networks aims to extend its reach into new markets and geographies.
FAIR LAWN, N.J. – Siklu, a provider of millimeter-wave technology, has closed $18 million in Series-D funding to supports its network connectivity efforts in video surveillance, Wi-Fi backhaul and access to residential multi-dwelling units (MDU).
The new investor in this round, Sercomm Corp., was joined by existing investors Argonaut Private Equity, Evergreen Venture Partners, DFJ Tamir Fishman Ventures, Qualcomm Ventures, 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,” says 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% compound annual growth rate to $1.7 billion by 2020. Siklu says it is positioned to capture this market through a range of competitively-priced solutions. The company’s mmWave solutions and technology provide thousands of fiber extensions for 3G/LTE telecommunication networks and business connectivity.
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