Celeno Communications has raised $38 million in funding to help build smart Wi-Fi chips and software.

The Ra’anana, Israel-based company will use the money to grow its range of products based on 802.11ac Wave 2 wireless networking technology, which aims to disrupt traditional Wi-Fi networking. The company’s Quicksilver tech is designed for dense networks with lots of interference. It also does real-time spectrum analysis — to figure out where the interference is –and software-defined Wi-Fi virtualization, using its OtimizAIR technology. And its ControlAIR technology enables gigabit Wi-Fi coverage using “small cell” architecture. That basically means it has figured out how to unclog Wi-Fi networks.

The round was led by Red Dot Capital Partners, a capital fund that’s backed by Singapore-based investment company Temasek and is focused on growth-stage investments. New investors OurCrowd and Poalim Capital Markets — investment arm of Bank Hapoalim, the largest financial banking group in Israel — joined the round. Existing investors, including Liberty Global, Cisco, Pitango, 83North (formerly Greylock IL), Vintage, and Miven, also participated. Zvika Naggan, managing partner at Red Dot, has joined Celeno’s board.

“With this significant new investment round, combined with the calibre of investors backing us, we are able to continue executing our strategy, building a world-class global company that will bring value to investors and shape the industry as a market leader,” said Gilad Rozen, CEO of Celeno, in a statement. “With this new round, we have taken Celeno to the next level and are able to further accelerate our growth and expansion in the market, as well as focus on enhancing R&D efforts and further developing our disruptive solutions.”

Celeno will use the funds to support accelerated growth of its 802.11ac Wave 2 product line. Celeno said that top-tier service providers have deployed its Wi-Fi chipsets in the tens of millions in home gateways, routers, and set-top boxes.

“Celeno has made the crucial transition from an innovative, disruptive startup to a global player — alongside some of the Wi-Fi semiconductor industry’s largest players — and is the solution of choice for many of the most important global service providers,” said Naggan, in a statement. “The growth and worldwide market presence that Celeno has established over time is remarkable, and a testament to their approach and the quality of their products. Celeno’s track record speaks for itself, and Red Dot is excited to join the company as it grows and establishes itself as a formidable player in this space.”

Celeno was founded in 2005. It has 120 employees and has raised $106.2 million, to date.

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