Gfast Leader Sckipio Raises $50M to date with new $10M Funding

MegaChips leads round with returning investors Intel Capital, Pitango Venture Capital and others

Ramat Gan, ISRAEL


RAMAT GAN, Israel, May 08, 2018 (GLOBE NEWSWIRE) -- Sckipio Technologies, the leader in Gfast chipsets, announced at the Intel Capital Global Summit it has raised $50M USD to date with its latest $10M USD round led by semiconductor leader MegaChips. Intel Capital, Pitango Venture Partners, Genesis Partners, Gemini Israel Ventures, Amiti Ventures, Aviv Ventures, CIRTech Fund and Axess Ventures also invested in the round. The additional investment will be used to support the global rollout of Gfast with tier-1 service providers.

In a recent survey by Broadbandtrends, 80% of service providers plan to deploy Gfast by the end of 2018. “Gfast technology is an important technology, especially in multi-dwelling units (MDUs),” said Teresa Mastrangelo, Broadbandtrends founder.  

“We see a tremendous global opportunity for Gfast and see Sckipio as the leading player,” said Akira Takata, MegaChips president and CEO. “Of equal importance, MegaChips has a long history working with Sckipio executives and believes strongly in the company’s team, technology, vision and execution.”

“The Sckipio team has incredible technological foresight and knows how to bring true innovations to the market,” said David Baum, Sckipio CEO. “The new investment will fund R&D at the level required to be a continual leader in the Gfast market.”

About Sckipio
Sckipio, the leader in Gfast, develops award-winning, standards-compliant Gfast modems used to enable ultra-broadband access and mobile backhaul. Sckipio partners with more than 30 companies globally on Gfast and is one of the leading contributors to the ITU-T standard. For more information about Sckipio, visit our website at www.sckipio.com. For more information follow us on LinkedIn, SlideShare and Twitter @SckipioTech.

About MegaChips Corporation
MegaChips Corporation (1st section of the TSE (Tokyo Stock Exchange): 6875) was established in 1990 as the first innovative fabless semiconductor company in Japan. MegaChips exploits expertise in analog, digital and MEMS technology and globally provides LSIs and solutions that are crucial for advancing technology innovation. For more information about MegaChips, visit our website at www.megachips.com.

Media Contacts:
Rainier Communications for Sckipio
Marianne Dempsey/Michelle McMahon       
sckipio@rainierco.com          
508-475-0025

For MegaChips
Sacha Arts
Slider & Associates
+1 408-458-6316
s.arts@me.com