Intel invests in Kiryat Gat-based chip co Xsight Labs

Semiconductor fab in Israel

Among other investors in Xsight Labs are Microsoft, and Avigdor Willenz.

Intel has led a fund raising round in Kiryat Gat-based semiconductors company Xsight Labs, which has raised a total of $100 million. The current round is $80 million. Xsight Labs was founded in 2016 by a group of former employees of EZchip - Guy Koren, Erez Sheizaf, and Gal Malach - who left the company when it was sold to Mellanox fo rover $800 million. Among other investors in Xsight Labs are Microsoft, and Avigdor Willenz, whose company Habana Labs was sold to Intel for $2 billion at the end of last year.

Xsight Labs develops processors that facilitate advanced, high-speed transfer of data for server farms. The product is of a similar kind to the processor developed by EZchip, and later by Annapurna Labs, which was founded by Willenz and sold to Amazon for $370 million. Xsight Labs is developing a new architecture for high-speed data transfer.

Its technology thus competes with that of Amazon, and is thus relevant to Microsoft, which competes with Amazon in cloud services, and also competes with Mellanox, which makes it relevant to Intel. Other investors in the current round, which closed recently, are Battery Ventures, Xilinx, and Valor Equity Partners. According to IVC, Zvi Limon, Orly Tsioni and Manuel Alba have also invested in the company.

Published by Globes, Israel business news - en.globes.co.il - on May 14, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Semiconductor fab in Israel
Semiconductor fab in Israel
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