November 1, 2016 / 10:45 AM / 3 years ago

Israel-China Catalyst Fund leads $25 mln investment in SatixFy

TEL AVIV, Nov 1 (Reuters) - Catalyst CEL Fund said on Tuesday it is leading a $25 million investment round in SatixFy Ltd, an Israeli provider of satellite communication technology.

The investment round will be completed by the end of the year, Catalyst said.

By designing its own silicon chips, SatixFy’s technology reduces the cost, size, weight and power consumption of user-terminals, and cost of air-time for satellite communications.

The Catalyst CEL Fund, jointly managed by Israel’s Catalyst and China Everbright Ltd, primarily invests in mid-to-late stage companies whose growth strategy is oriented towards emerging markets with a special focus on China. (Reporting by Tova Cohen)

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