Israeli Satellite communications SatixFy raises $25 million
1 November, 2016
The funding round was led by the Chinese-Israeli Catalyst fund. The Chinese involvement could ease the company’s way into the Chinese market. SatixFy’s develops chips for the IoT and M2M markets
Rehovot, Israel based SatixFy, a developer of chips for satellite communication systems raised $25 million. The funding round was led by the Chinese-Israeli Catalyst CEL fund. The fund has invested in companies such as Mobileye in the past. The current funding round will come to a conclusion during the next month.
SatixFy technology is based on the company’s own advanced silicon chips. SatixFy’s technology radically reduces the cost, size, weight and power consumption of user-terminals, and cost of air-time for satellite communications. SatixFy targets multiple markets such as the Internet of Things (“IoT”), and M2M (machine to machine) applications, which are at the forefront of satellite communications innovation today.
The company develops ASIC chips for connecting varios on-ground devices with satellites. The company’s chips make use of K frequencies, i.e 30GHz I (uplink) and 20 GHz (downlink). The use of these frequencies enables wider and faster data transfer rates than conventional satellites.
Satixfy was founded in 2012 by serial entrepreneur Yoel Gat, founder and former Chairman and CEO of Gilat Satellite Networks. The company has raised $30 million in 3 funding rounds. The company has recently opened a research and development center in Britain after receiving generous support from the ESA, The European Space Agency .
said: “The Company targets very big markets such as the people unconnected to the internet, IoT devices for private networks and rural areas as well as drone communications. The current round of funding will be used to fuel our aggressive future product and new silicon design developments and market reach. We are very impressed with the Catalyst CEL Fund’s reach, as was demonstrated, for example, in the very successful investor event at the GoforIsrael Conference in Shanghai in September. We are looking forward to working with the Fund’s team.”
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