Fixed to Mobile Convergence Firm Commil Completes $4.7 Million Round Led by Tamir Fishman Ventures, Gemini and Formula Ventures

"Over 20 leading telecommunication operators world-wide are performing trails and examining technologies in preparations to launch FMC services during 2005 and 2006", said Yuval Dovev, Commil’s CEO

(PRWEB) January 7, 2005 -- Commil, provider of advanced solutions for fixed to mobile convergence (FMC), completed a $4.7 million financing round from its current investors. The Israeli venture capital funds Tamir Fishman ventures, Gemini and Formula ventures participated in the financing round.

Following the involvement of Commil in several FMC trials, led by telecommunication operators around the world, the financing will enhance Commil’s development and marketing efforts.

“The drive for the convergence of fixed-line and cellular services has gained significant momentum over the last year. Over 20 leading telecommunication operators world-wide are performing trails and examining technologies in preparations to launch FMC services during 2005 and 2006”, said Yuval Dovev, Commil’s Chief Executive Officer. “The completion of this financing round signifies its investors’ confidence in Commil’s ability to become a major player in this fast-developing market. As a result of the efforts of its highly motivated employees, Commil has reached a point where its technology and products line answer FMC market needs today, and are ready to respond to future developments in the market.”

“Commil successfully gained credibility and reputation amongst world telecommunication operators”, emphasizes Gemini Venture Capitals’ Lior Berger. “The company managed to prove that it can attract partners and customers for its unique technology which it has been developing over the last 5 years. We believe that this financing round will help Commil achieve significant sales in the second half of 2005 and 2006.”

Commil provides advanced communication solution that leverages wireless short-range technologies such as Wi-Fi and Bluetooth, to connect cellular phones to fixed-line telephony infrastructure, with a focus on the business sector.

Commil’s solution enables cellular phones to connect as to corporate telecommunication infrastructure as PBX extensions, significantly reducing telecommunication costs and improving employees’ efficiency and mobility. With Commil’s line of products, Wireline operators can build on the employees preference to use cellular phone even while in office to regain part of the voice traffic volume that has gradually migrated from fixed-line to cellular networks.

Cellular operators can also utilize Commil’s solution to save valuable cellular resources by harnessing broadband infrastructure in the consumer and business sectors.

About Commil
Commil, a global provider of advanced solutions for fixed to mobile convergence, focus on solutions that enable cellular mobile handsets to access service over fixed telecommunication infrastructure.

Commil’s wireless solutions allow coverage of various telecommunications scenarios from single to many hundreds of users. This is achieved by automatically and seamlessly diverting indoor voice and data traffic over wireless protocols (including industry standard technologies such as Bluetooth and WLAN) to small, affordable access points. Commil’s application of the recent advances in these wireless protocols allow users to roam freely with no interference and no degradation of the voice quality whilst maintaining all the interface features they have become accustomed to.

Commil was founded in January 2000, and attracted leading Israeli VC’s and the Royal Phillips of the Netherlands as shareholders.

Commil headquarters and research center are located in Petah Tikva, Israel. The company London office serves its European customers and partners. For more information, please visit Commil Web site at www.commil.com or contact Netta Bucachin, at Commil, Tel: +972-3-9217770.

About Gemini
A pioneer in Israel's venture capital industry, Gemini provides start-up financing and expert guidance to help talented entrepreneurs build successful companies. The Gemini portfolio includes some of the most exciting and innovative Israeli high tech start-ups, and our track record includes many exits.

With over $550 million under management in four funds, Gemini focuses on seed and early stage companies in the fields of Communications and Wireless Technologies, Semiconductors, and Enterprise Software.

About Tamir Fishman Ventures
Tamir Fishman Ventures (TFV) is a leading Israeli venture capital group committed to building next-generation Israeli and Israel-related companies through value-added partnerships.

Tamir Fishman Ventures has a proven track record and over $200 million under management. Since its establishment in 1997, TFV has founded two funds Tamir Fishman Ventures II and Eucalyptus Ventures invested in over 30 companies to date, and played an integral role in the development of several of Israel’s most exciting next generation companies.

About Formula Ventures
Formula Ventures I was established in late 1998 with Shai Beilis as Managing Partner. In 1999 FV-I completed its financing, at the time as the largest first time Israeli fund and the largest early stage - focus Israeli fund. The portfolio of FV-I grew from six companies in 1998 to twenty in 2000, divided among communications and data communications infrastructure, Internet infrastructure and enterprise software.

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Source :  http://www.prweb.com/releases/2005/1/prweb194576.htm