MegaChips invests in Gfast supplier Sckipio

May 16, 2018 // By Peter Clarke
Japanese fabless chip company MegaChips Inc. has led a $10 million round of finance, along with returning investors Intel Capital, Pitango Venture Capital and others, in Gfast modem chipset provider Sckipio Technologies Ltd. (Ramat Gan, Israel).

The latest round brings the total raised by Sckipio to $50 million since the company was founded in 2012. The additional money will be used to support the global rollout of Gfast with tier-1 service providers, Sckipio said.

Gfast is capable of delivering data rates of hundreds of megabits per second over very short distances and is being looked on favourably for multioccupancy dwellings. Some 80 percent of telecommunication service providers plan to deploy Gfast by the end of 2018, according to a survey by Broadbandtrends.

"The new investment will fund R&D at the level required to be a continual leader in the Gfast market," said David Baum, Sckipio CEO, in a statement.

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