MegaChips makes strategic investment in Sckipio

MegaChips' strategic investment underscores the complementary partnership and will accelerate Gfast penetration globally, particularly in Japan, MegaChips writes in a press release. Intel Capital, Pitango Venture Partners, Genesis Partners, Gemini Israel Ventures, Amiti Ventures, Aviv Ventures, CIRTech Fund and Axess Ventures also invested in the USD 10 million round. The investment expands on MegaChips' and Sckipio's existing six-year relationship, and the companies will cooperate in developing new solutions for new markets. "Demand for Gfast products is ramping up quickly as consumers and businesses desire affordable, ultra-high-speed broadband solutions, and our partnership with Sckipio helps us drive these solutions to market quickly," Akira Takata, MegaChips president and CEO, says in the release. "This joint effort underscores our commitment to help enhance our customers' competitiveness and strengthens our mission in seeking to further expand our business and sustainable growth." "Our joint partnership with MegaChips allows us to collaborate on our respective areas of expertise and helps us build on our recent momentum as we further position ourselves as a global leader in the quickly growing Gfast space. MegaChips' investment is a testament to the strength of our brand and the tremendous global opportunity ahead, including access to the Japanese market," says David Baum, CEO and co-founder at Sckipio.