Israeli HDBaseT automotive technology developer Valens Semiconductor, said it raised $60 million in a Series D funding round led by Israel Growth Partners (IGP), and includes Delphi, Samsung Catalyst Fund, Goldman Sachs and MediaTek, with the participation of existing investors. This brings the company’s total funding to date to over $100 million.
Founded in 2006, Valens provides semiconductor products for the distribution of ultra-high-definition (HD) multimedia content. The company’s HDBaseT technology enables long-reach connectivity of devices over a single cable and is a global standard for advanced digital media distribution. Valens is a co-founder of the HDBaseT Alliance.
Hod Hasharon-based Valens introduced its HDBaseT automotive technology in 2016 to address the challenges of connected cars, including the increasing amount of bandwidth and wiring necessary to cater to infotainment and Advanced Driver Assistance Systems (ADAS) needs.
“Valens is deeply committed to the automotive market, which represents a major growth area for the company, and this financing round strengthens the ecosystem we are building to do so,” said Valens co-founder and CEO Dror Jerushalmi. “Delphi, Samsung Electronics, who recently completed the acquisition of Harman International Industries, a provider of audio and infotainment systems for the automotive, consumer and professional markets, and MediaTek are leading players in the sector and value the potential of our solution for the advancement of the connected car.”
As part of this investment round, IGP co-founder and General Partner Moshe Lichtman will join Valens’ Board of Directors.
“Valens has shown its commitment to revolutionizing wired connectivity in several industries, and its success in the audiovisual and consumer electronics market is proof of it,” Lichtman said. “We have been deeply impressed with Valens’ management team and with their collaboration with some of the world’s leading automotive companies. We believe the Valens technology will be an important enabler in the era of connected and autonomous cars and we are looking forward to assisting the company in fully realizing its potential in the market.”
“Best-in-class signal and power distribution capabilities are key enablers for increasing levels of vehicle connectivity and automation,” said Glen De Vos, Delphi senior vice president and chief technology officer. “Our investment and partnership with Valens brings great opportunity to leverage the potential of HDBaseT Automotive technology in future mobility platforms.”
“There is great potential in the automotive industry as it continues to embrace technological change. We see significant opportunity for Valens to benefit from this trend and look forward to supporting the company’s growth going forward,” commented Michael Ronen, Partner at Goldman Sachs Investment Banking Division and head of Automotive 2.0 Banking.