ProteanTecs, a company that builds deep data solutions to monitor the health and performance of electronics, has raised $51 million in a Series D funding round. IAG Capital Partners led the round.
New strategic investors include Arm, Samsung Catalyst Fund, and Siemens. Existing investors such as Addition, Zeev Ventures, Avigdor Willenz Group, MediaTek Innovation Fund, Intel Capital, Porsche Automobil Holding SE, and Koch Disruptive Technologies (KDT) also took part.
The company will use the new funding to expand operations, develop new products, and strengthen its role across the electronics industry value chain.
ProteanTecs has raised over $250 million to date. The company was founded in 2017 by a group of executives, some of whom had previously worked at Mellanox (later acquired by Nvidia). The founders are Shai Cohen (CEO), Evelyn Landman (CTO), Roni Ashuri (COO), Yahel David, Eyal Fayneh, and Yuval Bonen.
Today, ProteanTecs employs more than 200 people. Its headquarters are in Israel, with additional offices in the U.S., India, and Taiwan.
ProteanTecs uses telemetry-based technology to monitor electronics throughout their lifecycle. This helps improve power efficiency, boost performance, and make complex electronic systems safer and more reliable.
The company works with major cloud providers and top semiconductor companies and is quickly expanding into industries like automotive, consumer electronics, and telecommunications.
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