Israel's Valens Semiconductor, inventor of HDBaseT connectivity technology for transmitting content, said Thursday (April 6) it secured $60 million in venture funding from new and existing investors.
The funding round was led by Israel Growth Partners, and included the participation of new investors Delphi, Samsung's Catalyst Fund, Goldman Sachs and MediaTek, Valens said through a statement. The company said it would use the funding to speed up time to market, develop additional products per market demands and support customers with design and development projects.
Valens has raised about $100 million through several rounds of funding since its founding in 2006. The company emerged in 2009 to promote HDBaseT as one several wired alternatives to the high definition multimedia interface (HDMI). Valens eventually co-founded the HDBaseT Alliance with Samsung Electronics, Sony Pictures Entertainment and LG Electronics.
Last year, Valens introduced its HDBaseT Automotive technology for the connected car. Among other things, the technology increases the amount of bandwidth and wiring necessary to cater to infotainment and Advanced Driver Assistance Systems.
Last year, Daimler selected HDBaseT Automotive for its infotainment and telematics systems.
"Valens is deeply committed to the automotive market, which represents a major growth area for the company, and this financinground strengthens the ecosystem we are building to do so," said Dror Jerushalmi, Valens’ co-founder and CEO, in a statement.
----Form EE Times