Gemini Leads $4.25M Investment in Next Generation Broadband Co Sckipio
Gemini Israel Ventures joined Genesis and Amiti Ventures in a $4.25M Series A investment in Sckipio Technologies Ltd. Sckipio is a semiconductor company dedicated to delivering ultra-high-speed broadband using next generation G.fast-based modems.
The company is focused on implementing the evolving G.fast ITU standard designed for providing fiber-like bandwidth of up to 1Gbps per subscriber using existing short range telephone copper wires. The work on the standard was initiated and is strongly supported by some of the world's leading telecom companies and its initial drafts are expected to be approved by the end of 2012.
The founding team at Sckipio had a previous start-up, CopperGate Communications, which sold to Sigma Technologies in 2009 for just under $200M.