The Tamir Fishman-CIG venture fund, has invested in a new Russian JV company in partnership with the Israeli company, Mobix Wireless Solutions, to design a new ASIC semiconductor chip in Russia for smart metering communication infrastructure. The investment of over $6 million into Mobix Chip LLC., the project company, was done by the Tamir Fishman-CIG venture fund in cooperation with the Russian Venture Company (RVC).
Mobix Chip LLC. in Russia, will further develop the patented n-DNet™ technology of Mobix Wireless Solutions, and implement it on the semi-conductor level.
Daniel Gimpel, Managing Director of the Tamir Fishman-CIG venture fund said: "Mobix Wireless Solutions (MWS) in Israel, is a systems company, and this new investment will establish Mobix Chip as a “fabless” semiconductor company in Russia based on MWS n-DNet technology. The international market is now extremely hot for smart meter infrastructure technologies due to new regulations for management of electric grid balancing, and gas/water efficiency management.”
The new developed intellectual property of Mobix Chip LLC. will further enable better communications reliability and scalability while implementing leading standards and improved security protocols. The implementation of the new technology will drastically reduce the implementation costs ofthe entire system.
Shai Hemli, CEO and Chairman of Mobix Wireless Solutions said, "With this investment from the Tamir Fishman-CIG VC Fund and Russia Venture Corporation, Mobix is partnering with top Russian financial resources to develop this joint venture and integrate the best engineering talent in Russia. We intend to leverage our technology expertise and international sales experience to make this Russian joint venture a leading international success.”
Yan Ryzantezev, Director of Investments for RVC said, “The joint company of Tamir Fishman CIG Venture Fund and Mobix Wireless Solutions is not only a successful model of how to leverage new technologies in our country for internal use, this is also a brilliant example of how to create here in Russia, a global center of revenues earned from using these technologies. The newly established joint venture aims to be a leading company at designing microchips for the global markets in the nearest future. In addition, the solutions developed by Mobix Chip will enable Russian utilities to save and manage energy recourses and money”.
Erez Tsur, member of Mobix Chip advisory board and General Manager of Cadence Design System (Israel), said, “Cadence`s advanced technologies and services reduce the launch time for products that are introduced to foreign markets. Cadence's local presence in Russia means that Cadence is well positioned to support Israeli customers that are looking at Russia and the Commonwealth of Independent States (CIS) as suitable markets to operate and develop microelectronic devices.”
About Mobix Wireless Solutions
Mobix Wireless Solutions (MWS) has been introducing innovative solutions to the Advanced Metering Infrastructure (AMI) and the Smart Grid market from 2004. From the very beginning, Mobix has dedicated itself to provide the most advantageous and affordable two-way communication infrastructure to the industry. MWS has a wide experience in PLC and RF based solutions and in 2009, MWS has introduced a solution in the form of a fused PLC and RF communications into a virtual Dynamic 3D network (n-DNet)
Our products are available as a fully functional integrated AMI solutions as well as OEM modules to be easily integrated into our Partners solutions.
About Tamir Fishman
The Tamir Fishman Group is Israel’s leading and fastest growing full-service financial group. Through our strategic partnership with RBC Capital Markets, we give clients access to global markets, benchmark research and world-class investment products. The host of domestic and international investment banking services offerred include: venture capital, corporate finance: public offerings, private placements, M&A and advisory services, underwriting of public offerings on the Tel Aviv Stock Exchange (TASE), local and global asset management: portfolio management, mutual funds management, real estate fund Eastern Europe, equities research, management and outsourcing of corporate benefits services and trustee services.