Support from existing investors, will be used for new market growth and customer support.
Celerica Ltd., a premier provider of capacity distribution solutions for mobile carriers, announced today the successful completion of its latest fundraising round in March of this year that will yield $8M in new capital resources. The funds were invested by Pitango VC, Charles River Ventures, Star Ventures and Platinum Ventures, all of whom are existing investors.
The investment will be used to strengthen Celerica’s business in existing markets and build the necessary infrastructure for new market growth. Additionally, the funds will add new field support for Celerica’s customer base.
“We are finding that the market is open to the concept of Distributed Cell Site Architecture,” explained Isaac Hillel, Managing Director of Pitango Venture Capital. “Operators are looking for innovative solutions to make more of their BTS assets and redistribute their capacity more efficiently. Celerica is starting to install systems in 3G deployments of first tier operators. “
Pini Sabach, Celerica’s CEO, sees the success of the round as a vote of confidence: “Clearly, this indicates that our investors are pleased with our solution and the interest it has sparked in the global mobile networks market. We intend to leverage this capital to extend our penetration in existing and new markets and to increase our customer support presence in the field.”