Asocs Raises $8M

Asocs closes $8M in a second round of funding led by FGF

September 3, 2008

1 Min Read

ROSH HA'AYIN, Israel -- ASOCS, the developer of the world's 1st wireless MultiComms processor for handheld devices, today announced it has secured $8 million. The round was led by FinTech GIMV Fund (FGF) and included existing investors: Vertex Venture Capital and Harel Hertz Investment House. Mr. Takashi Hondo, a managing partner with FinTech Global Capital (FGC) responsible for semiconductors and information technology, will represent FGF as member of ASOCS' board of directors.

So far ASOCS has raised $20 million. The company will use the current investment to further scale its presence in the Japanese and US markets and ramp its sales up in conjunction with developing marketing activities to support its growing customer base.

“We found ASOCS to be a promising innovator providing the desired solution for the most challenging dilemma in the mobile industry today – combining multiple radio interface standards over a single processor, to offer end users a truly seamless connectivity experience when shifting between different radio networks", said Mr. Takashi Hondo, a managing partner with FGC. “FGF underpins the efforts of overseas companies as they seek to establish a stronger presence in Japan. We see great potential in ASOCS' breakthrough technology which is backed by prominent partners such as Fujitsu, Wipro and Comneon”. Mr. Hondo adds. "Therefore we intend to support ASOCS in leveraging its position in the Japanese market."

Asocs Ltd.

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