February 29) - Schema Ltd., which develops algorithm-based software for the wireless and other industries, said yesterday it had raised $4.7 million in a private placement from venture capital funds Gemini, Walden, Etgar, Eurfund, and others.

Schema, which was formed by 1994 by Yuval Davidor, said it was the second round of financing in which Gemini participated. It invested $500,000 in the current round, it added..

"The demand for services by wireless networks has grown quickly throughout the world. The growth is a result of increasing competition among wireless providers as prices fall and volume increases significantly," Tali Even, a Gemini senior partner, said in a statement.

Falcom, Schema`s main product, optimizes frequency allocations and provides other solutions for cellular networks.

Credit: Jerusalem Post Staff