Israel-based electronics maintenance technology startup ProteanTecs closed a $35m series B round on Monday that included Intel Capital, semiconductor technology producer Intel’s corporate venturing unit.
Mitsubishi UFJ Capital, the venture capital arm of financial services group Mitsubishi UFJ, also took part in the round, along with ITI Venture Capital Partners, Redline Capital Management, Viola Ventures, WRVI Capital, Zeev Ventures and private investor Avigdor Willenz.
Founded in 2017, ProteanTecs has created a chip telemetry system that combines machine learning with data garnered from embedded sensors to track the performance of electronics over their lifetime, providing in-depth data about their operation.
Intel Capital managing director Yair Shoham said: “As chip process and assembly technologies become increasingly advanced, they also become increasingly complex. ProteanTecs’ solution has great potential to transform how our industry achieves the essential levels of visibility, quality, reliability and predictability.”
The company has not disclosed details of its earlier financing but said the series B round boosted its overall funding to almost $50m.
The deal made up part of the 14 investments Intel Capital announced on Monday, a list that also includes a $150m series B round for artificial intelligence application platform developer SambaNova Systems that it led.
