Celona closes new financing round for $60 million
Celona said that the proceeds will be used to accelerate the firm’s worldwide expansion, channel growth and R&D efforts
California-based Celona announced that it has closed a $60 million Series C financing round led by DigitalBridge Ventures, the venture capital initiative of DigitalBridge Group.
The financing round also included participation from all of Celona’s existing investors: Lightspeed Venture Partners, Norwest Venture Partners, NTTVC, Qualcomm Ventures and Cervin Ventures. The new financing brings Celona’s total capital investment to $100 million. The company said in a release that the proceeds will be used to accelerate the firm’s worldwide expansion, channel growth and R&D efforts.
“This latest financing round is a strong endorsement of both our existing accomplishments leading the market in 5G network adoption and the tremendous growth prospects still ahead for Celona,” said Rajeev Shah, co-founder and CEO of Celona. “We are proud to have the support of a top-tier group of investors, including DigitalBridge leading this financing round. We believe that Celona has all the right pieces in place to build upon our foundation of disruptive innovation and leadership with our 5G LAN technology, particularly with these additional resources to expand our reach and grow our capabilities.”
“Celona has brought a solution to the private 5G market that we believe will have a transformative impact on the entire industry,” said Marc Ganzi, president and CEO of DigitalBridge. “We will be leveraging DigitalBridge’s leadership and resources in digital infrastructure to expand our ventures platform by investing in exciting, entrepreneurial businesses like Celona. We are thrilled to partner with Celona for DigitalBridge’s inaugural venture investment, and we see tremendous potential for the business’ continued growth and leadership in the private cellular space.”
Since launching its fully integrated 5G LAN platform in November 2020, Celona said it has seen strong demand from a range of enterprises, managed service providers, and mobile network operators looking to satisfy strategic digital business initiatives not adequately addressed today. The company’s customer base includes organizations such as Verizon, NTT Ltd, SBA Communications, St. Luke’s Hospital System, Purdue Research Foundation, Stanislaus State University, and many other enterprises.
Celona also noted that its 5G LAN platform is used by manufacturers, retailers, hospitals, schools, and supply-chain organizations to drive transformational results for a wide range of mission-critical use cases that require the deterministic wireless connectivity on private & interference-free cellular spectrum and fast mobility for new generation of highly mobile devices and robotics infrastructures.
The company also highlighted that this solution is the only private 5G solution in the industry that has been purpose-built to help organizations easily deploy, operate, and integrate 5G cellular technology with their existing infrastructure. Patented MicroSlicing technology enables customers to offer guaranteed QoS, latency and performance on a per application and per device group basis, Celona said.