Koch Corporation, leads $45 million investment in Israeli startup ProteanTecs
ProteanTecs was established by former Mellanox founders. Other former Mellanox founders new startup emerged from stealth last week and has already bagged almost $100M in funding.
The proteanTecs team / credit proteanTecs
The Israeli startup ProteanTecs has raised $45 million in a round led by Koch Disruptive Technologies (KDT), a subsidiary of Koch Industries, one of the largest private companies in the world.
Investors in this round are Atreides Management, Valor Equity Partners, with the participation of existing investors.
The company, which develops predictive technology for monitoring electronic chip performance, said that the recruitment will be used to accelerate penetration into target markets and expand business operations.
Founded in 2017 by three out of ten founders of Mellanox: Shai Cohen, Evelyn Landman, and Roni Assyria. Three other entrepreneurs joined the company Yahel David, Yuval Bonen, and Eyal Felina.
The company that has already raised $50 million, employs 75 people in Israel, New Jersey, and San Francisco.
ProteanTecs is designed to address the challenges currently facing the advanced electronics industry, resulting from the increase in production volumes and complexity. Its technology combining operational data mined from the chip with machine learning and proprietary analytics capabilities, ProteanTecs provides companies with self-sustaining capabilities, while increasing production volume and quality of their systems.
In addition, ProteanTecs’s system allows the optimization of electronic fleets by alerting to potential malfunctions prior to the chip fully collapsing.
“ProteanTecs has brought to market a new category of health and performance monitoring of electronic systems,” said Shai Cohen, the company’s CEO. “We are experiencing a significant increase in demands coming from the market, whether it be chip makers, systems integrators, or service providers. The current recruitment will allow us to accelerate bringing solutions to the market and expand our global deployment.”
“The increase in chip design complexity and system performance requirements requires new ways of monitoring performance, especially in a world that is developing an increasing reliance on electronics,” explained Eli Gruner, director at KDT. Protantex’s customers include global electronics suppliers from various sectors, including the data center market, cloud technologies, artificial intelligence and communications.
“The increase in chip design complexity and system performance requirements requires new ways of monitoring performance, especially in a world that is developing an increasing reliance on electronics,” explained Eli Gruner, director at KDT. Protantex’s customers include global electronics suppliers from various sectors, including the data center market, cloud technologies, artificial intelligence and communications.
Read more about: Koch Industries, Mellanox, ProteanTecs
