Thursday, July 7, 2011

Valens Semiconductor Closes $14 Million Investment B Round

HOD-HASHARON, Israel--(BUSINESS WIRE)--Valens Semiconductor, a leading provider of semiconductor products for the distribution of uncompressed high-definition (HD) multimedia content and the inventor of the HDBaseT™ technology, announced today that it has raised $14 million in its latest round of funding.

Valens’ successful traction with HDBaseT products in the marketplace contributed to the support from leaders in the global investment community. The Series B round of financing comes from a blend of new strategic partners, including Taiwan-based Pegatron and Japan-based Mitsui & Co. Global Investment Ltd., together with new venture capital fund investors, Amiti Ventures and Aviv Venture Capital. In addition, Genesis Partners and Magma Venture Partners, who participated in Series A round of financing, also contributed to Series B.

The funding will accelerate the development of follow-on generations of Valens’ HDBaseT chipset, enabling further integration, cost reduction and the facilitation of growth in multimedia transmission and data communication for consumer electronics and content provider industries. An impressive number of ProAV equipment manufacturers and consumer electronics companies are currently shipping and developing HDBaseT-enabled products including displays, projectors and A/V receivers.

Dror Jerushalmi, CEO and Co-Founder of Valens, stated “The quality of investors engaged in this round of financing speaks to the success of our HDBaseT technology and signals trust in our vision and our ability to further penetrate the CE market. These partnerships significantly enhance our ability to strengthen our foothold in the home-networking marketplace. We are ramping up production to deliver HDBaseT chipsets to global ODMs, OEMs and CE manufacturers along with added presence in the Japanese marketplace.”

Valens’ HDBaseT technology is a consumer electronic (CE) connectivity technology optimized for whole-home and commercial multimedia distribution. HDBaseT connects all entertainment devices, enabling a whole-home experience with the flexibility and features consumers demand. Using a single, long-reach LAN cable with RJ45 connectors already common in households for its Ethernet use, HDBaseT is fast becoming the global standard for advanced media distribution.

About Valens Semiconductor

Valens provides semiconductor products for the distribution of uncompressed high-definition (HD) multimedia content. The company's HDBaseT™ technology enables long-reach connectivity of devices over a single 100m/328ft standard CAT5e/6 LAN cable and is fast becoming the new, global standard for advanced digital media distribution. Valens is a founding member of the HDBaseT Alliance formed by leading CE companies to define a new industry standard for advanced digital media distribution. Founded in 2006, Valens is a private company with offices in Israel, Japan, Hong-Kong, USA and local representatives in Korea, Taiwan and China.

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