Israel-based multimedia transfer company Valens Semiconductor has raised $14m in its series B round of funding co-backed by corporate venturers Mitsui Global Investment, a division of the Japan-based Mitsui Group, and the Taiwan-based electronics manufacturing conglomerate Pegatron.
Including the B round, Valens said it had raised $25m in total with its existing investors including venture capital (VC) firms Genesis Partners, Magma Venture Partners, Aviv Venture Capital and Amiti Ventures.
Founded in 2006, Valens produces semiconductor products for use in high definition multimedia systems. The company plans to use the income raised from this round to accelerate the development of its products, some of which have already started shipping.