Cellwize secures $32M series B funding to advance 5G tech
Cellwize also plans to penetrate adjacent markets with the incoming funds
Cellwize Wireless Technologies, a mobile network automation provider, has announced it's secured $32 million in series B funding. Intel Capital and Qualcomm Ventures led the funding round, but Verizon Ventures, Samsung Next and existing shareholders also played a role in the round.
Cellwize will use the funds to expand its global footprint, penetrate adjacent markets, such as private LTE and 5G networks, and enhance the CHIME platform’s features and capabilities. It also plans to add to its artificial intelligence (AI) and machine learning (ML) offerings.
"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," said David Flanagan, vice president and senior managing director at Intel Capital. "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.“
Cellwize CHIME is a primary product in this endeavor. It enables operators to accelerate their 5G deployment by automating key business processes in the RAN domain. With CHIME, Cellwize has captured a leading position in the mobile network automation domain, playing a strategic role in 5G rollouts and monetization for global tier-1 carriers.
"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," said Ofir Zemer, CEO of Cellwize.
Zemer continued, "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."
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