Israel-based semiconductor technology producer Valens attracted $60m in series D funding on Thursday from a consortium of investors that included automotive parts manufacturer Delphi and consumer electronics conglomerate Samsung.
Mitsui Global Investment, a division of conglomerate Mitsui, fabless semiconductor company MediaTek and electronics manufacturer Pegatron also contributed to the round.
The round, which was led by private equity firm Israel Growth Partners, was filled out by Goldman Sachs, Genesis Partners, Magma Venture Partners, Aviv Venture Capital and Amiti Ventures as well as various private investors. Samsung took part through its Samsung Catalyst Fund.
Founded in 2006, Valens has created semiconductor technology dubbed HDBaseT that can facilitate the transmission of ultra-high definition (also known as 4K) multimedia content over long distances using a single cable.
The money will support Valens’ accelerated expansion into the automotive sector, where it is targeting infotainment and advanced driver assistance systems, and towards the development of additional products as well as design and development projects.
Moshe Lichtman, general partner at Israel Growth Partners, will join Valens’ board of directors. Valens has raised $105m to date, Magma and Genesis having co-led a $20m series C round in 2015 with participation from assorted angel investors.
Mitsui, Pegatron, Genesis, Magma, Aviv and Amiti supplied $14m in series B capital for the company in 2011, adding to $7m series A round led by Genesis and supported by Magma in 2007. Valens has not disclosed the origin of the other $4m in funding.