Fixed to Mobile Convergence Firm Commil Completes $4.7 Million Round Led by Tamir Fishman Ventures, Gemini and Formula Ventures
"Over 20 leading telecommunication operators world-wide are performing trails and examining technologies in preparations to launch FMC services during 2005 and 2006", said Yuval Dovev, Commil’s CEO
(PRWEB) January 7, 2005 -- Commil, provider of advanced solutions for fixed
to mobile convergence (FMC), completed a $4.7 million financing round from its
current investors. The Israeli venture capital funds Tamir Fishman ventures,
Gemini and Formula ventures participated in the financing
round.
Following the involvement of Commil in several FMC trials, led by
telecommunication operators around the world, the financing will enhance
Commil’s development and marketing efforts.
“The drive for the
convergence of fixed-line and cellular services has gained significant momentum
over the last year. Over 20 leading telecommunication operators world-wide are
performing trails and examining technologies in preparations to launch FMC
services during 2005 and 2006”, said Yuval Dovev, Commil’s Chief Executive
Officer. “The completion of this financing round signifies its investors’
confidence in Commil’s ability to become a major player in this fast-developing
market. As a result of the efforts of its highly motivated employees, Commil has
reached a point where its technology and products line answer FMC market needs
today, and are ready to respond to future developments in the
market.”
“Commil successfully gained credibility and reputation amongst
world telecommunication operators”, emphasizes Gemini Venture Capitals’ Lior
Berger. “The company managed to prove that it can attract partners and customers
for its unique technology which it has been developing over the last 5 years. We
believe that this financing round will help Commil achieve significant sales in
the second half of 2005 and 2006.”
Commil provides advanced communication
solution that leverages wireless short-range technologies such as Wi-Fi and
Bluetooth, to connect cellular phones to fixed-line telephony infrastructure,
with a focus on the business sector.
Commil’s solution enables cellular
phones to connect as to corporate telecommunication infrastructure as PBX
extensions, significantly reducing telecommunication costs and improving
employees’ efficiency and mobility. With Commil’s line of products, Wireline
operators can build on the employees preference to use cellular phone even while
in office to regain part of the voice traffic volume that has gradually migrated
from fixed-line to cellular networks.
Cellular operators can also
utilize Commil’s solution to save valuable cellular resources by harnessing
broadband infrastructure in the consumer and business sectors.
About
Commil
Commil, a global provider of advanced solutions for fixed to mobile
convergence, focus on solutions that enable cellular mobile handsets to access
service over fixed telecommunication infrastructure.
Commil’s wireless
solutions allow coverage of various telecommunications scenarios from single to
many hundreds of users. This is achieved by automatically and seamlessly
diverting indoor voice and data traffic over wireless protocols (including
industry standard technologies such as Bluetooth and WLAN) to small, affordable
access points. Commil’s application of the recent advances in these wireless
protocols allow users to roam freely with no interference and no degradation of
the voice quality whilst maintaining all the interface features they have become
accustomed to.
Commil was founded in January 2000, and attracted leading
Israeli VC’s and the Royal Phillips of the Netherlands as
shareholders.
Commil headquarters and research center are located in
Petah Tikva, Israel. The company London office serves its European customers and
partners. For more information, please visit Commil Web site at www.commil.com or contact Netta
Bucachin, at Commil, Tel: +972-3-9217770.
About Gemini
A pioneer in
Israel's venture capital industry, Gemini provides start-up financing and expert
guidance to help talented entrepreneurs build successful companies. The Gemini
portfolio includes some of the most exciting and innovative Israeli high tech
start-ups, and our track record includes many exits.
With over $550
million under management in four funds, Gemini focuses on seed and early stage
companies in the fields of Communications and Wireless Technologies,
Semiconductors, and Enterprise Software.
About Tamir Fishman
Ventures
Tamir Fishman Ventures (TFV) is a leading Israeli venture capital
group committed to building next-generation Israeli and Israel-related companies
through value-added partnerships.
Tamir Fishman Ventures has a proven
track record and over $200 million under management. Since its establishment in
1997, TFV has founded two funds Tamir Fishman Ventures II and Eucalyptus
Ventures invested in over 30 companies to date, and played an integral role in
the development of several of Israel’s most exciting next generation
companies.
About Formula Ventures
Formula Ventures I was established
in late 1998 with Shai Beilis as Managing Partner. In 1999 FV-I completed its
financing, at the time as the largest first time Israeli fund and the largest
early stage - focus Israeli fund. The portfolio of FV-I grew from six companies
in 1998 to twenty in 2000, divided among communications and data communications
infrastructure, Internet infrastructure and enterprise software.
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Source : http://www.prweb.com/releases/2005/1/prweb194576.htm