First Dell, now Cisco. 2013 is turning out to be a transformative year for the young Israeli startup
Back in mid October Wilocity, an Israeli startup and a wireless chipset developer, announced that it had raised a $35M from Alan Feld’s Vintage Investment Partners and Shlomo Kalish’s Jerusalem Global Ventures, as well as buy several returning and new investors. The company has now announced that Cisco Systems was one of those other investors and Wilocity will be entering into a collaborative partnership with Cisco to create a new Wi-Fi standard for enterprise marketing.
Next Generation Wi-Fi to go enterprise
Wilociti’s 60GHz chip set 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 first breakthrough came earlier this year when products began to be integrated into computers manufactured by Dell. The Cisco deal marks the company’s second major milestone of this year and will ensure that 2013 closes off as a major turning point in the young startups growth cycle to becoming a major player in the chip manufacturing industry.