Israeli deep data co proteanTecs raises $50m

proteanTecs management Photo: PR

proteanTecs provides cloud and edge enterprise software solutions for electronics' health and performance monitoring.

Israeli company proteanTecs, which provides deep data solutions for advanced electronics, announced today the completion of a $50 million growth equity financing round led by Koch Disruptive Technologies (KDT) with strategic investors MediaTek and Advantest, together with Porsche SE and Champion Motors. This brings the company's total funding to $150 million.

With deep data derived from Universal Chip Telemetry (UCT), proteanTecs provides cloud and edge enterprise software solutions for electronics' health and performance monitoring. Addressing end-to-end needs of mission-critical markets, the company serves some of the largest and most technologically innovative companies in Datacenter, Automotive and Communications.

Based in Haifa, proteanTecs was founded in 2017 by CEO Shai Cohen, CTO Evelyn Landman and COO Roni Ashuri.

Cohen said, "The investment will strengthen proteanTecs' technological and market leadership. It solidifies our strategy of bringing together market leaders' diverse view points to solve a cross-stake challenge, while validating the need for advanced monitoring solutions from design to field. We're grateful for the existing and new investors' support and shared vision to bring a common data language to the industry."

Published by Globes, Israel business news - en.globes.co.il - on September 23, 2021

Copyright of Globes Publisher Itonut (1983) Ltd. 2021

proteanTecs management Photo: PR
proteanTecs management Photo: PR
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