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Israeli Car Chip Co Valens Raises $60m

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Thursday, April 13th, 2017

The Hod Hasharon company will use the funds to promote its HDBaseT technology semiconductors for enhanced car communications.

As reported in Globes:

Israeli semiconductor company Valens has raised $60 million in a financing round led by Israel Growth Partners (IGP), and including Delphi, Samsung Catalyst Fund, Goldman Sachs and MediaTek as new investors, in addition to Valens’ existing investors.

The new funding will enable the Hod Hasharon based company to make inroads into the automotive industry with its HDBaseT technology. This latest funding round will also allow Valens to speed up time to market, develop additional products per market demands and support customers with design and development projects.

Valens introduced its HDBaseT Automotive technology in 2016 to address the challenges of the connected car, including the increasing amount of bandwidth and wiring necessary to cater to infotainment and Advanced Driver Assistance Systems needs.

There has been significant interest in self-driving car technology in Australia, with trials in South Australia and partnerships between automakers and Victorian road authorities. The first autonomous vehicle to be developed in Australia was unveiled in Victoria in October 2016.