Mobile data services startup CellGlide has completed a $10 million private placement, TheMarker has learned.
Investment in the company, which develops content-aware and cell-resource-aware adaptiveswitches for mobile packet data networks, were led by the pan-European venture capital fund TLcom Capital Partners.
Finnish mobile communications company Sonera and Israeli fund Magnum also provided follow-on capital.
Tlcom partner Giuseppe Curatolo will be joining CellGlide's board of directors.
CellGlide's switches optimize data communications over communications networks at the level of the cell, to improve service efficiency. They are used in EDGE, GPRS and UMTS networks.
The company was established in September 2000 by Liron Langer, Aharon Satt and Haim Zelikovsky. Shortly after its establishment the company raised $5 million according to a post-money company value of $15 million, mainly from Magnum and Sonera.
The company employs 25 people at its facility in Netanya. It plans to open offices in Europe soon.