Validates need for multi-segment visibility from production to system operation
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HAIFA, Israel, Sept. 24, 2021 /PRNewswire/ — proteanTecs, a global leader in deep data solutions for advanced electronics, announced today a $50 million extension to their Growth Equity Round, demonstrating accelerated market adoption of system health and performance monitoring across multiple verticals. The round extension was led by Koch Disruptive Technologies (KDT) and joined by strategic investors MediaTek and Advantest, together with Porsche SE, the major shareholder of Volkswagen Group, and Allied Group subsidiary Champion Motors, as well as current investors. This brings the company’s total funding to $150 million.
Based on deep data derived from Universal Chip Telemetry™ (UCT), proteanTecs provides cloud and edge enterprise SW solutions for electronics’ health and performance monitoring. Addressing end-to-end needs of mission-critical markets, the company serves some of the largest and most technologically innovative companies in Datacenter, Automotive and Communications.
proteanTecs onboards leading investors from multiple verticals
The strategic investment reinforces the growing need for full lifecycle visibility, spanning all segments of the electronics industry. Eli Groner, managing director at KDT, commented: "Since KDT’s first investment in proteanTecs we’ve seen their continued success in scaling and developing their technology, and this new investment is a testament to our confidence in the company. The addition of leading strategic partners across multiple verticals will enable proteanTecs to continue to stay ahead of the curve in the exciting new world of real time electronics monitoring."
One of the main forces driving the paradigm shift to an integrative approach is the automotive industry, which is entering the next phase of its electrification, driven by rising customer demands for safety and connectivity.
Lutz Meschke, member of the board of management responsible for investment management at Porsche SE, said: "Due to the fast-paced technological advancements and the ever-growing requirements for new chip generations, we see an enormous market potential for proteanTecs’ technology leveraging predictive reliability, performance and power management. We see clear benefits and the necessity for the use of this technology across a wide range of industries including the automotive industry."
Spurred by the progress of the digital revolution, and driven by complexities in design and manufacturing, advanced analytics are also transforming the way production testing is performed. Advantest, a leading manufacturer of automatic test equipment, is strategically reinforcing its core business by integrating traditional silos across the product lifecycle through cloud-based data.
"We are excited to add proteanTecs to our investment portfolio, and to welcome their collaboration in the Advantest Cloud Solutions’ open solution ecosystem", said Doug Lefever, president and CEO of Advantest America. "The way we are addressing test today has changed. We are strategically transitioning to an integrated methodology, leveraging cloud and edge analytics based on multiple data sources. We look forward to working with proteanTecs on the next phase of semiconductor test, finding innovative and scalable ways to shape the future of test platforms."
Versatile deployment of advanced electronics is another key dynamic driving collaboration. MediaTek, a global semiconductor leader, enjoyed first mover advantage in AI and 5G, providing chipsets for smart home, connectivity, IoT and wearable, ASIC and smart mobile devices.
"The investment in proteanTecs aligns with our commitment to bring cross-platform technologies that help connect users to the world around them", said Brian Hsu, Managing Partner of MediaTek Capital. "Robust, high-efficiency and low-power-consumption ICs are key to driving a scalable digital future. We believe synergies from strong technology portfolios and proteanTecs’ predictive performance capabilities will grow product value and enable unique competitive advantages."
The addition of strategic investors comes on the heels of a momentous year for proteanTecs. In 2020-2021, the company onboarded key customers, including cloud hyperscalers, leading system OEMs, disruptive fabless startups, and ASIC houses, enabling the formation of a value-add solution portfolio. The extended financing will be used to fuel global expansion, accelerate product development, and pursue strategic collaborations.
"The investment will strengthen proteanTecs’ technological and market leadership", said Shai Cohen, CEO and co-founder of proteanTecs. "It solidifies our strategy of bringing together market leaders’ diverse view points to solve a cross-stake challenge, while validating the need for advanced monitoring solutions from design to field. We’re grateful for the existing and new investors’ support and shared vision to bring a common data language to the industry."
About Porsche SE
Porsche Automobil Holding SE ("Porsche SE") is a listed investment company and a major shareholder of Volkswagen AG, in which Porsche SE holds 53.3 percent of ordinary shares and 31.4 percent of capital. In addition to the core holding in Volkswagen AG, Porsche SE is a global investor in the mobility and industrial technology sectors. Porsche SE focuses on high-quality growth companies that thrive on strong macro trends and are led by excellent management teams.
About Advantest Corporation
Advantest (TSE: 6857) is the leading manufacturer of automatic test and measurement equipment used in the design and production of semiconductors for applications including 5G communications, the Internet of Things (IoT), autonomous vehicles, artificial intelligence (AI), machine learning, smart medical devices and more. Its leading-edge systems and products are integrated into the most advanced semiconductor production lines in the world. The company also conducts R&D to address emerging testing challenges and applications, produces multi-vision metrology scanning electron microscopes essential to photomask manufacturing, and offers groundbreaking 3D imaging and analysis tools. Founded in Tokyo in 1954, Advantest is a global company with facilities around the world and an international commitment to sustainable practices and social responsibility. More information is available at www.advantest.com.
About MediaTek Inc.
MediaTek Incorporated (TWSE: 2454) is a global fabless semiconductor company that enables nearly 2 billion connected devices a year. We are a market leader in developing innovative systems-on-chip (SoC) for mobile device, home entertainment, connectivity and IoT products. Our dedication to innovation has positioned us as a driving market force in several key technology areas, including highly power-efficient mobile technologies, automotive solutions and a broad range of advanced multimedia products such as smartphones, tablets, digital televisions, 5G, Voice Assistant Devices (VAD) and wearables. MediaTek empowers and inspires people to expand their horizons and achieve their goals through smart technology, more easily and efficiently than ever before. We work with the brands you love to make great technology accessible to everyone, and it drives everything we do. Visit www.mediatek.com for more information.
About KDT
Koch Disruptive Technologies (KDT) is a unique investment firm, focused on empowering founders to create a could-be world. KDT provides a flexible, multi-stage investment approach which includes both traditional venture and growth stages. We work with principled entrepreneurs who are building transformative companies, disrupting the status quo, and creating new platforms. KDT is a subsidiary of Koch Industries, one of the largest privately held companies in the world with $110 billion in revenue and operating in more than 70 countries. KDT helps its partners unlock their full potential by bringing Koch’s capabilities and network to them, structuring unique capital solutions, and embracing a long-term, mutual benefit mindset.
About proteanTecs
proteanTecs develops revolutionary Universal Chip Telemetry™ (UCT) for electronic systems throughout their entire lifecycle, increasing their performance and reliability. By applying machine learning to novel data created by on-chip UCT Agents™, proteanTecs provides meaningful insights and visibility unattainable until today, leading to new levels of quality, reliability and scale. Founded in 2017, the company is headquartered in Israel with offices in New Jersey, California and Taiwan. For more information, visit: www.proteanTecs.com.
Press Contact
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Related Links :
http://www.proteantecs.com/
