The funding round was led by Israel Growth Partners (IGP), and includes Delphi, Samsung Catalyst Fund, Goldman Sachs and MediaTek as new investors, in addition to Valens’ existing investors. It will allow Valens to speed up time to market, develop additional products per market demands and support customers with design and development projects.
“Valens is 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.
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 (ADAS) needs.
During recent past, Valens made progress in the automotive industry. For example, the technology has been selected by Daimer for future advanced infotainment and telemactics systems.
As part of this funding round, Moshe Lichtman, co-founder and General Partner of IGP will join Valens’ Board of Directors.
For more information visit www.valens.com