Intel, MegaChips Back Israel-Based Chipmaker Sckipio

Intel Capital, the venture investment arm of Intel, participated in a $10 million funding round for Israel-based chip company Sckipio Technologies S.I Ltd. The round was led by Japanese multinational semiconductor company MegaChips Corporation, the companies announced Tuesday. Intel Capital also invested in the company’s previous round.

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Additional participants include Israeli venture capital firms Pitango Venture Capital, Gemini Israel Ventures, Genesis Partners, Amiti Ventures Management Ltd. and Aviv Venture Capital Ltd.

Founded in 2012 and based in greater Tel Aviv, Sckipio develops chips for modems and broadband applications. The company has raised $50 million to date. It employs 50 people, according to LinkedIn data.

The investment extends MegaChips and Sckipio’s existing six-year partnership, MegaChips said in a statement.

Sckipio intends to use the funding for research and development as well as expanding the company’s reach to new global markets, according to a statement.