The Catalyst CEL Fund (the “Fund”) has made an investment in SatixFy Limited (“SatixFy” or the “Company”), a provider of satellite and quasi-satellite communication technology—Catalyst CEL Fund is the lead investor in a $25 million 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 to 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 their 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 management team is led by Founder and CEO Yoel Gat, the founder and former Chairman and CEO of Gilat Satellite Networks Limited (NASDAQ, TASE: GILT). 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.
SatixFy is the third investment made by the Catalyst CEL Fund, whose 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.
Yair Shamir, Managing Partner of Catalyst CEL Fund, reported that under Yoel Gat's leadership, SatixFy became a global leader in its field, with the management's experience in the market of satellite technology being 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.
According to Yoel Gat, SatixFy targets large markets, such as 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 SatixFy's aggressive future product and new silicon design developments and market reach.
