Tech startup Cellwize secures $32m Series B financing to expand its global footprint
Cellwize, a global leader in mobile network automation and orchestration, announced a $32 million Series B funding round in its parent company, Cellwize Wireless Technologies, led by Intel Capital and Qualcomm Ventures with participation from Verizon Ventures, Samsung Next, and existing shareholders.
Cellwize will use the funds raised to expand its global footprint, penetrate adjacent markets, such as private LTE/5G networks, and to enhance the features and capabilities of its CHIME platform and its value proposition for the existing customer base – including in its artificial intelligence and machine learning capabilities.
The investment follows the significant market traction gained over the past year by Cellwize CHIME, the company's next generation RAN automation and orchestration platform. With CHIME, Cellwize has captured a leading position in the mobile network automation domain, playing a strategic role in 5G rollouts for global tier-1 carriers.
Cellwize CHIME enables operators to accelerate their 5G deployment by automating key business processes in the RAN domain. With its open architecture and open API layer, it also enables them to add self-created network applications on top of a multi-vendor RAN ecosystem with ease and simplicity, delivering high quality of service, an improved customer experience, accelerated time-to-market, and reduced costs.
The Cellwize platform leverages artificial intelligence and machine learning for zero-touch 5G deployments, for automating 2G/3G/4G/5G network optimization, and for delivering mobile network assurance. Through this combination of advanced capabilities, operators can democratize their network management functions and deliver fast innovation with unprecedented flexibility, scalability, and agility to monetize 5G and accelerate the revolution.
Ofir Zemer, CEO, Cellwize: "We are delighted to have been selected by these leading VCs for their strategic investments to accelerate 5G in a way that is open and disaggregated. This is a clear reflection of the trust they have in Cellwize and in the cutting-edge capabilities of CHIME for enabling the 5G revolution. This investment also serves as an additional testament to the great value our solution brings to operators in the age of 5G, and to the evolution of RAN from being just a broadband solution for consumers to being a part of the very fabric of modern enterprises, as well as in how it addresses some of the most critical challenges operators are facing today."
David Flanagan, VP & Senior Managing Director, Intel Capital: "Intel Capital is a lead investor in Cellwize because we're excited about the opportunity Cellwize has to help operators transform their networks to accelerate the 5G revolution. Cellwize and Intel Capital are aligned in their vision that Cellwize's cloud-native platform, which includes AI-based automation technology, will help customers deploy complex 5G networks in a more efficient, scalable, and flexible way.
Merav Weinryb, Senior Director, Qualcomm Israel and Managing Director, Qualcomm Ventures Israel and Europe: "Qualcomm is at the forefront of 5G expansion, creating a robust ecosystem of technologies that will usher in the new era of connectivity. As a leader in RAN automation and orchestration, Cellwize plays an important role in 5G deployment. We are excited to support Cellwize through the Qualcomm Ventures' 5G global ecosystem fund as they scale and expedite 5G adoption worldwide."
Intel Capital, Qualcomm Ventures, Verizon Ventures and Samsung Next join the existing Cellwize shareholders, including Viola Ventures, DTCP, GreenApple Tech part of Dar Global, Vintage Investment Partners, and Sonae IM.