RISHON LEZION, Israel (PRNewswire) -- Runcom Technologies Ltd., a 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."