Israeli fabless semiconductor company Xsight Labs has come out of stealth and announced that it has raised $116 million to date from Intel Capital, Microsoft M12, Xilinx, Battery Ventures, Valor Equity Partners, Atreides Management and others.
Xsight Labs was founded in 2017 by a group of former employees of EZchip - CEO Guy Koren, Switch GM Erez Sheizaf, and CTO Gal Malach - who left the company when it was sold to Mellanox for over $800 million. A founding investor in the company is Israeli serial entrepreneur Avigdor Willenz, who founded Galileo Technology, which was acquired by Marvell in 2001 for $2.7 billion. His other ventures included Annapurna Labs, acquired by Amazon in 2015, Leaba Semiconductor, acquired by Cisco in 2016; and Habana Labs, acquired by Intel for $2 billion in 2019.
With offices in Israel and the US, Xsight Labs seeks to redesign the foundation of cloud infrastructure by delivering a broad portfolio of products that enable end-to-end connectivity. "Globes" reported in May that the company had already raised $100 million but this is the first official confirmation of Xsight Labs financial backing.
Xsight Labs is developing products that will drive the seamless adoption of these end-to-end connectivity. The company says that the technology will help cloud service providers accelerate their innovation velocity by maximizing the use of added resources without additional overheads.
Koren said, "We are extremely proud of the strong legacy of our team, which has developed and productized multiple generations of cloud infrastructure products. Building on this strong foundation, the team has successfully executed on a unique new data center switch architecture, delivering unmatched performance with remarkably low power, and this is just the tip of the iceberg."
Willenz said, "Xsight Labs has assembled a world-class engineering team, with the goal of enabling next-generation data center end-to-end interconnects that drive new paradigms of scale and efficiency. The sampling of X1 is the first step towards realizing this ambitious vision, and I am extremely happy to be part of this journey with the team."
Published by Globes, Israel business news - en.globes.co.il - on December 14, 2020
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