Israeli startup Wilocity, which designs 60-gigahertz wireless microchips, recently completed a $35-million round of fundraising from investors.
Following the latest round of investment, Wilocity has raised a total of $100 million. Altogether, the company has 70 employees, with 60 working out of its headquarters in Caesarea. The company's chips are manufactured in Taiwan but designed in Israel. The latest round of investment will be used to develop the company's sales operations.
Wilocity was established in 2007 by four former Intel employees - CEO Tal Tamir, COO Dany Rettig, VP Communications Architecture Gal Basson and VP Products and Sales Jorge Myszne.
The technology developed by the company enables the high-speed wireless transfer of data, including voice and video. Wilocity chipsets currently can transmit data at a speed of 4.6 Gigahertz per second and are expected to eventually reach speeds of 7 Gigahertz per second. The standard used by Wilocity is called WiGig.
In September, the company announced that Dell had agreed to use Wilocity chips inside its ultrabook computers. Wilocity stated that it would also announce additional products using its chips in this quarter.
The latest round of investment was led by venture funds Vintage Investment Partners and Jerusalem Global Ventures. Several current investors in the company also participated in the latest round, including Sequoia Capital, Benchmark Capital, Tallwood Venture Capital, Qualcomm Corporation and Marvell Technology Group.
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