Israeli car chip startup Valens has raised $63 million from Linse Capital and Oppenheimer Asset Management. The Hod Hasharon based company is developing HDBaseT technology for the audiovisual and automotive markets and chipsets that simplify in-vehicle connectivity. With the new investment, Valens is looking to accelerate the development of its portfolio for the autonomous vehicle sector and address the ongoing requirements of its automotive partners.
Since its latest funding in 2017, Valens, with strategic partnerships with leading OEMs and tier-1s, has identified significant opportunities in the autonomous sector. By raising additional capital, the company will be ramping up its activities in the sector, addressing in-vehicle high-performance computing, smart architectures and PCIe transmission, to realize the vision of the autonomous car.
Valens CEO and cofounder Dror Jerushalmi said, "Valens continues to drive the innovation required to enable the future of autonomous vehicles. The autonomous and connected vehicles that automakers are designing today depend on advanced chipsets to enable high-speed data transmission. Our technology is leading the pack, optimizing in-vehicle connectivity to handle increased bandwidth with less complexity."
Linse Capital managing director Michael Linse said, "We are excited to support Valens as they design the most advanced technological solutions for today's in-vehicle connectivity challenges. Valens' technology is ahead of its time and will revolutionize how car manufacturers design and deliver the autonomous and connected car of the future."
Oppenheimer head of technology investment banking Robin Graham said, "Oppenheimer recognizes that the rapid technological evolution happening in the automotive industry requires high-speed connectivity. Investing in Valens allows Oppenheimer's clients to participate in that evolution. We believe Valens' technology will enable the automotive industry to meet the increasingly stringent design requirements of advanced connectivity and autonomous driving."
Published by Globes, Israel business news - en.globes.co.il - on November 6, 2018
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