Mellanox founders' startup raises $35m

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Startup company proteanTecs, among the founders of which are three of the founders of Mellanox, has announced a $35 million series B financing round. Among the investors are Avigdor Willenz, Intel Capital, ITI Venture Capital Partners, Mitsubishi UFJ Capital, Redline Capital Management S.A., Viola Ventures, WRVI Capital, and Zeev Ventures.

The company, which up to now has operated under the radar, was founded in 2017 and employs 35 people. Among its founders Shai Cohen (CEO), Evelyn Landman (CTO) and Roni Ashuri (COO), all three of whom were also among the founders of InfiniBand and Ethernet technology company Mellanox, recently sold to Nvidia for $6.9 billion. The fourth founder is Raanan Gewirtzman, formerly CEO of BroadLight, which was sold to Broadcom for $230 million in 2012.

proteanTecs develops solutions for the prediction of failures in electronics. The problem that its product is intended to solve is that the more widespread the use of electronics becomes, and the more complex they become, the more their quality and reliability declines. Electronics failures can have a drastic impact, financial and other. proteanTecs' Universal Chip Telemetry is described as "a new language of inferred measurements for chip health and performance monitoring."

"We offer a one-stop cloud-based platform, that combines data derived from proprietary Agents embedded in chips, with machine learning and data analytics," Shai Cohen said. "This significantly improves chip and system production quality, while tracking operational reliability and alerting on faults before they become failures. proteanTecs provides unprecedented insights throughout the value chain, from Chip Vendors to System Vendors and Digital Service Providers."


Published by Globes, Israel business news - en.globes.co.il - on April 2, 2019


© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

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