Motorola Ventures invests $25 million in Israel

Motorola Ventures, the venture capital arm of U.S.-based Motorola, will invest up to $25 million in Israeli start-ups in 2006, according to a Reuters report.

"We have a $150 million investment commitment from six offices for 2006," Motorola Ventures co-founder and managing director Matthew Growney was quoted as at a venture capital conference in Tel Aviv. "Of that, we will invest $20 to $25 million in Israel," he reportedly said.

Motorola's Israel's investment include BroadLight, whose products enable system vendors to deliver broadband services over fiber, and CopperGate Communications, which develops chipsets for high-speed multimedia home networking over existing cables and phone lines.

Growney was also quoted as saying that WiMAX will in the long run cut into the popularity of Wi-Fi, as companies such as Motorola and Intel back WiMAX to provide long-range broadband access for portable devices.

- Spencer Chin
EE Times