The latest round of funding, led by MegaChips, Intel Capital and Gemini Israel Ventures reached $10 million

Gfast chip manufacturer, Sckipio, has revealed that it has raised close to $50 million, with its latest round of funding generating $10 million.

The additional investment will help Sckipio to support the rollout of Gfast with tier one service providers across the road.

The latest round of investment was led by a range of international players, including MegaChips, Intel Capital and Gemini Israel Ventures.

“We see a tremendous global opportunity for Gfast and see Sckipio as the leading player,” said Akira Takata, MegaChips president and CEO.

“Of equal importance, MegaChips has a long history working with Sckipio executives and believes strongly in the company’s team, technology, vision and execution.”

“The Sckipio team has incredible technological foresight and knows how to bring true innovations to the market,” said David Baum, Sckipio CEO. “The new investment will fund R&D at the level required to be a continual leader in the Gfast market,” he added.

As the pursuit of gigabit capable broadband services increases, a recent survey by broadbandtrends found that 80 per cent of service provides plan to deploy Gfast in oneform or the other by the end of 2018.