Runcom Raises $10 Million

Runcom Technologies Ltd., an Israel-based developer of silicon solutions for user terminals and base stations, has raised $10 million in Series C funding from TLcom Capital.

 

PRESS RELEASE

Runcom Technologies Ltd., a leading technology company pioneering OFDMA based silicon solutions for user terminals and base stations that comply with the IEEE802.16e-2005 standard for WiBro and Mobile WiMAX applications, announced today that it has secured a US$10 million Series C investment by TLcom Capital LLP. This investment is intended to be used by the company to sustain its leading market share in the booming Broadband Wireless market.

In April 2008 Runcom Technologies received the WiMAX Forum Certified Seal of Approval for its products following rigorous testing to ensure that each product meets strict interoperability and conformance to standards. Runcom was one of the first companies that achieved such certification.

This is only the second round of financing of Runcom. The previous investment round currently hold by SMAC Partners from Germany and Concord from Israel was executed in the year 2000. Runcom is already profitable and in the year 2007 Runcom was placed third in the “Fast 500” list of the fastest-growing firms in the technology, media and telecommunications (TMT) industries in the EMEA region, with a growth rate of 27,950 percent.

“We are delighted to have TLcom as partners,” said Dr. Zion Hadad, Founder and CEO of Runcom: “this investment is an important milestone for Runcom, and a significant vote of confidence in Runcom's achievements and growing potential.”

“This investment in Runcom is one of a number of growth stage investments that TLcom Capital is completing from its second fund which was closed in late 2007” said Maurizio Caio, Managing Partner of TLcom Capital LLP; “Runcom is a core player in the rapidly expanding market for WiMAX and is now also developing expertise and intellectual property in 4G technologies such as 802.16m and LTE which have a significant OFDMA component.”

About Runcom

Runcom is a technology company pioneering OFDMA technology and offering silicon products and solutions for User Terminals and Base Stations that comply with the IEEE802.16e-2005 standard for WiBro and Mobile WiMAX applications; Runcom Products include the PHY and MAC communication layers. Runcom's RNA200 ASIC was the first and most popular Mobile WiMAX compliant ASIC in the market for user terminals with more than 250,000 ASIC sold. The RNU2000 Base Station System on Board was first in the market as well with more than 1000 Base Station fielded.

About TLcom Capital

TLcom Capital LLP is a London-based venture capital firm investing since 1999 in Telecom, Media and Technology (TMT) companies across Europe and Israel, with a growing focus and expertise in Southern and “Emerging” Europe TLcom primarily targets high growth revenue stage companies in the following industry segments: mobile; internet protocol (IP) technologies and services; broadband based network architecture and service platforms; semiconductors and materials; web based applications, services and technologies; digital media and technologies targeting the digital home environment. For more information, please visit http://www.tlcom.co.uk, or email info@tlcom.co.uk