Investment & Fund Management

Celeno, based in Ra'anana, Israel, faced significant challenges in providing reliable Wi-Fi solutions amidst the growing demand for high-performance connectivity. With an estimated 17 billion Wi-Fi devices worldwide and households often using 10-15 devices simultaneously, the limitations of existing Wi-Fi systems became apparent. The company identified a critical gap in the market, particularly as users began to expect consistent, high-quality service capable of supporting multiple HD video streams and other data-intensive applications.

To address these niche issues, Celeno developed advanced smart Wi-Fi technology that enhances the user experience by intelligently managing data allocation across devices. This technology not only improves performance in residential settings but is also crucial in environments like offices and production plants, where reliability is essential for mission-critical functions. The company’s innovations have been adopted by major IPTV operators, including Deutsche Telekom, showcasing the effectiveness of their solutions.

To support its rapid expansion and ongoing development of next-generation products, Celeno secured financing from LeumiTech, backed by the European Investment Fund (EIF) through the InnovFin SMEG program. This loan provided essential working capital, enabling the company to grow its sales and invest in research and development. As a result, Celeno expanded its workforce to 160 employees and created additional jobs indirectly through its suppliers and service providers. The financing has positioned Celeno to explore new markets and segments, including Industry 4.0, smart transportation, smart cities, and education, further solidifying its role as a leader in the ICT sector.