How to secure follow on investments in China? Portfolio highlight: CommuniTake
CommuniTake Technologies Ltd., an Israeli enterprise mobile security and productivity developer and provider, and one of Shirat Enterprises customers in Israel and China, has secured a follow-on investment in its China subsidiary. The company will utilize the funds to continue building firm partnerships and provide its service to large corporations and operators in China.
What does it take to raise follow on investments, especially in China? CommuniTake China was established within Shirat Enterprises Business Oriented Incubator in Changshu. The program, a multi-city partnership between Shirat Enterprises and local Changshu government, supports and mentors Israeli and international hi-tech companies in their initial steps in China. The initial investment in CommuniTake was made in 2013 and played a crucial role in kick-starting the company operations and expanding its business in China. The company, already with initial sales in China, was able to establish a local team and gain traction, making the company more attractive for local investors.
The follow-on investment will be made by the Beijing Sino-Israeli Technology Innovation Center fund and is a bill of confidence in the company’s activity and products as it continues to grow in the Chinese market. CommuniTake believes the investment will help to increasingly provide stable, convenient and efficient products and services for more and more enterprises, carriers and after-sales service providers in China.
“With Shirat Enterprises bridge funding and collaboration, we were able to succeed the incubation period and accomplish phased presence in China. I cherish their help in making it happen”,said Ronen Sasson, CEO of CommuniTake Technologies (Israel/China). “Now we are effectively moving forward, endorsed by Beijing SITIC fund, and focusing on large scale mobile security and support deployments where the sky is the limit”.
He Ping, Shirat Enterprises General Manager of SITIC fund added: “The Investment in CommuniTake, the leading solution provider in Mobile Security, has proven to be one of the most significant achievements SITIC made in 2016. We will continue the momentum and strive for supporting more innovative Israeli companies so they can leverage the great market potential in China.”
About CommuniTake Technologies
CommuniTake delivers a game-changing mobile security and support platform. CommuniTake mobile security solution integrates a specially manufactured hardware-trusted mobile phone, security-rich Android-like operating system, encrypted communications, fused command and control center, Antivirus and remote control technology to provide organizations with powerful in-depth protection against mobile cyber-attacks. CommuniTake Omni-channel productivity suite unifies a one-of-a-kind crowd support solution, self-troubleshooting app, and remote assistance tools, assuring device performance and reducing service costs.
With a highly skilled Israeli R&D team and an established China subsidiary since 2013, CommuniTake offers a three-way promise: the ultimate mobile enterprise security solution; a comprehensive after-sales support platform; and OEMs with device manufacturers.
About the SITIC Fund
SITIC – the Sino-Israeli International Technology Innovation & Cooperation Center managed by Shirat Enterprises in the prestigious Zhongguancun Software Park in Beijing. SITIC offers eligible hi-tech companies from Israel to execute an acceleration development plan for the promotion of their business in the PRC, and provides the necessary funding and support, integrating numerous resources from local governments to commercial players.