HOD HASHARON, Israel, November 7, 2018
HOD HASHARON, Israel, November 7, 2018 /PRNewswire/ --
The latest funding will speed up development and shorten time-to-market of Valens' automotive portfolio to meet customer demands for autonomous vehicles
Valens, the developer of HDBaseT technology for the audiovisual and automotive markets, announced today that Linse Capital, joined by Oppenheimer Asset Management, invested a total amount of $63 million as part of this financing round. The company, whose chipsets simplify in-vehicle connectivity, is looking to accelerate the development of its portfolio for the autonomous vehicle sector and address the ongoing requirements of its automotive partners.
Since its latest funding in 2017, Valens, with strategic partnerships with leading OEMs and tier-1s, has identified significant opportunities in the autonomous sector. By raising additional capital, the company will be ramping up its activities in the sector, addressing in-vehicle high-performance computing, smart architectures and PCIe transmission, to realize the vision of the autonomous car.
"Valens continues to drive the innovation required to enable the future of autonomous vehicles," said Dror Jerushalmi, CEO and Co-Founder of Valens. "The autonomous and connected vehicles that automakers are designing today depend on advanced chipsets to enable high-speed data transmission. Our technology is leading the pack, optimizing in-vehicle connectivity to handle increased bandwidth with less complexity."
"We are excited to support Valens as they design the most advanced technological solutions for today's in-vehicle connectivity challenges," said Michael Linse, Managing Director at Linse Capital. "Valens' technology is ahead of its time and will revolutionize how car manufacturers design and deliver the autonomous and connected car of the future."
"Oppenheimer recognizes that the rapid technological evolution happening in the automotive industry requires high-speed connectivity. Investing in Valens allows Oppenheimer's clients to participate in that evolution," said Robin Graham, Head of Technology Investment Banking at Oppenheimer. "We believe Valens' technology will enable the automotive industry to meet the increasingly stringent design requirements of advanced connectivity and autonomous driving."
Valens Automotive, a division of Valens, was established in 2015 with the singular goal of delivering the world's most advanced audio/visual chipset technology to the automotive world. Valens HDBaseT Automotive chip technology enables unparalleled in-vehicle connectivity, converging audio & video, Ethernet, USB, controls, PCIe, and power over a single cable. Valens' patented HDBaseT technology is used by the world's largest audio/video component manufacturers, enabling the highest quality of connectivity without the limitations of legacy infrastructure. Valens is a private company headquartered in Israel. For more information, visit https://www.valens.com/automotive-solutions, or follow @ValensAuto.