Israel’s Elron Electronic Industries Ltd. announced that Wavion, Inc., an Elron group company, has completed a financing round led by Sequoia Seed Capital, raising six million dollars out of which Elron invested two million dollars. Following the financing, Elron holds approximately 45 percent of Wavion, on a fully diluted basis.
Wavion, founded in 2000 by entrepreneurs together with Elron, specializes in the development of "smart antenna" technology to enhance the performance of wireless systems.
Elron Electronic Industries Ltd. is a multinational high technology holding company based in Israel.
Through affiliates, Elron is engaged with a group of high technology operating companies in the fields of advanced defense electronics, communication, software, information technology, Medical devices, semiconductors and amorphous metals. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
