Valens Semiconductor Raises $7 Million in Series A Financing

Valens Semiconductor Ltd., a developer of a chip that will enable high quality transmission of audio and video in a home networking environment, recently announced the completion of a $7 Million series A round of equity financing, led by Genesis Partners. Magma Venture Partners also participated in the round. Dr. Eyal Kishon of Genesis Partners and Eitan Dekel of Magma Venture Partners will join the company’s Board of Directors. Yossi Kofman, the former Co-founder and Co-CEO of Modem Art, will join the company’s advisory board.

Valens is headed by Dror Jerushalmi, who was previously Director of Business Development at Saifun, VP Marketing at Emblaze Semiconductors, and VP Business Development at Tioga. Valens’ founding team also includes Eyal Massad and Eyran Lida, who were part of the founding team of Mysticom, a developer of high speed communication integrated circuits. Additional team members include former Mysticom and TranSwitch employees.

According to Dror Jerushalmi, CEO of Valens, “In addition to enabling the company to accelerate product development this investment represents a significant vote of confidence in the company’s solution. Valens’ product line meets an increasingly growing need in the consumer electronic market.”

Dr. Eyal Kishon, Founder and Managing Partner of Genesis Partners, stated, “Genesis Partner has been following Valens’ development since our early seed investment in company 6 months ago. Valens has assembled an exceptional team of entrepreneurs with a proven track record. The company is developing an innovative offering that addresses a growing market. We are very excited with this partnership and believe in the company’s potential to become a dominant player in this market.”

Eitan Dekel, a Partner at Magma, stated, “The high definition video technology space creates an environment for creativity and tremendous growth potential. Valens’ experienced entrepreneurial team has the opportunity to penetrate this market with unique technology, and we are pleased to partner with them in order to realize this potential.”

Genesis Partners is a leading Israeli venture capital firm focused on early stage companies in the information and communication technology (ICT) sectors. Established in 1996, Genesis Partners manages over $500 million in capital commitments across three funds, and has made over 70 investments with 26 successful exits. Genesis Partners has strong ties to the Israeli entrepreneurial community and the global technology industry, and a strong team of venture professionals with extensive experience in venture capital, technology, operations and entrepreneurship.

For more information, please visit www.genesispartners.com