Israeli startup developing wireless super fast chipset raises a huge round of investment for. Is this the next generation of Wi-Fi?
Israeli startup Wilocity, developer of wireless chipsets, announced the completion of a 35 million dollar funding round. The round was led by Alan Feld’s Vintage Investment Partners and Shlomo Kalish’s Jerusalem Global Ventures. These were joined by returning investors Sequoia Capital, Tailwood Venture Capital, Marvell Technology Group, Qualcomm and other investors.
Next Generation Wi-Fi – super fast
The 60GHz chip is based on technology developed by the company used primarily for mobile computing, consumer electronics and peripherals. The chip enables devices to communicate wirelessly with computers at around 1-5 Gbps, 10 times faster than current Wi-Fi, N11 standards. For demonstration purposes, Full HD 1080p quality video at an average size of 16 GB can be viewed from computer to computer within seconds. The main drawback facing Wilocity’s technology lies in its inability to penetrate thick walls leaving it limited to a singular workroom environment per every chip/router base.
According IVC, the company has thus far raised $70M. This is the fourth funding round the company, which will use the funds to expand its business partners and to enter the smartphone market. Vice president Mark Grodzinsky related to Globes that the company’s goal is to bring the technology of 60GHz chips to the smartphone market by 2014. Last month, the company demonstrated partnerships with DisplayLink demonstrating the capabilities of the network by streaming WiGig Video quality 4K at crazy speed.
Wilocity was founded in 2007 by Tal Tamir (CEO), Dany Rettig (COO), Gal Basson (VP Communication Architecture) and Jorge Myzne – all former Intel employees who began selling chipsets together in 2012. The company has about 70 employees and sits in Caesarea but they also have sales and marketing branches in the United States, China, Taiwan, Japan and Korea. The company’s breakthrough came earlier this year when products began to be integrated into computers manufactured by Dell.