Catalyst CEL Fund leads US$25 million funding round in SatixFy Limited
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Catalyst CEL Fund leads US$25 million funding round in SatixFy Limited

November 1, 2016

 

Catalyst CEL Fund is pleased to announce the investment in SatixFy Limited, a leading provider of satellite and quasi-satellite communication technology Catalyst CEL Fund is the lead investor in a $25 million USD investment round, which will be completed by the end of the year.

 

The Fund aims to support the long term growth of innovative Israeli companies and promote the development of China's high-tech industry. The investment highlights the focus of investors on one of Israel's strongest markets, satellite communication. By designing its own silicon chips, SatixFy's technology radically reduces the cost, size, weight and power consumption of user-terminals, and cost of air-time for satellite communications. SatixFy targets multiple markets such as the Internet of Things (IoT) ,and M2M (machine to machine) applications, which are at the forefront of satellite communications innovation today. The Company’s experienced management team is led by Founder & CEO Yoel Gat, founder and former Chairman and CEO of Gilat Satellite Networks Limited. The Company recently opened its new research center in the UK after receiving a significant grant from the UK Space Agency through the European Space Agency. 

 

Yair Shamir, Managing Partner of Catalyst CEL Fund, said: “Under Yoel Gat's leadership, SatixFy became a global leader in its field. The management's experience in the market of satellite technology is exceptional. Their previous experience in China joined with the expertise of our partners at China Everbright Limited secure a meaningful entry to the Chinese market for the company.”

 

Shengyan Fan, Head of Merger and Acquisition Department at China Everbright Limited and Managing Partner of Catalyst CEL Fund noted, “SatixFy’s unique technological advantages position the Company well for future business growth and expansion in satellite broadband communications. Yoel and his team are some of the industry’s best and we are proud to join hand with them to support their technological innovations in this area.”

 

Yoel Gat, Founder & CEO of SatixFy said: “The Company targets very big markets such as the people unconnected to the internet, IoT devices for private networks and rural areas as well as drone communications. The current round of funding will be used to fuel our aggressive future product and new silicon design developments and market reach. We are very impressed with the Catalyst CEL Fund’s reach, as was demonstrated, for example, in the very successful investor event at the GoforIsrael Conference in Shanghai in September. We are looking forward to working with the Fund’s team.”

 

SatixFy is the third investment made by the Catalyst CEL Fund. Its previous investments include Lamina Technologies, a manufacturer of state-of-the-art, precision carbide metal cutting tools, and XJet, the world's pioneering technology of inkjet-based 3D printing system for metal parts.

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