Koch Industries and Porsche invest in Israeli deep data startup proteanTecs


The venture capital arm of Koch Industries, Koch Disruptive Technologies (KDT) and Porsche have invested in Israeli deep data startup proteanTecs, a developer of an advanced software solution to monitor the health and performance of electronic systems before they do not become defective.

The $ 50 million investment, announced on Thursday, was led by KDT and comes on top of the Israeli company’s $ 45 million funding round. last august, also headed by Koch’s VC division.

Besides Porsche, the largest shareholder in the Volkswagon group, investors in the proteanTecs extension cycle included MediaTek, a Taiwanese factory-less semiconductor company; Advantest, a Japanese manufacturer of automatic test equipment for the semiconductor industry; and the subsidiary of Allied Group Champion Motors, a major Israeli automobile importer.

ProteanTecs was created in 2017 by veterans of the semiconductor industry, including the co-founders of Mellanox Technologies, the Israeli developer of high-speed servers and storage switching solutions, acquired two years ago by the chipmaker Nvidia for $ 6.7 billion. The startup exited stealth mode in 2019 and immediately announced a $ 35 million investment led by Intel Capital.

A cloud-based analytics platform developed by proteanTecs applies machine learning algorithms to metrics pulled from on-chip monitors, which it calls agents, and provides insight and visibility into health and performance. ‘a given electronic system throughout its life cycle.

The startup’s customers include major system OEMs (Original Equipment Manufacturer), factory-less startups, and cloud-based companies in industries spanning the automobile, communications and data centers.

According to the announcement, proteanTecs marked a “year to remember” in 2020 and 2021, and the new funding “reinforces the growing need for full lifecycle visibility, covering all segments of the electronics industry.

The funds will be used to expand globally, accelerate product development and pursue strategic collaborations, the company added.

“Since KDT’s first investment in proteanTecs, we have seen their continued success in scaling and developing their technology, and this new investment is a testament to our confidence in the company,” said Eli Groner, Managing Director general of KDT, former general manager of the Prime Minister’s office.

“The addition of leading strategic partners in several verticals will allow proteanTecs to continue to stay ahead in the exciting new world of real-time electronic surveillance. “

Shai Cohen, CEO and co-founder of proteanTecs, said the investment “strengthens our strategy of bringing together the diverse perspectives of market leaders to solve a cross-stakes challenge, while validating the need for monitoring solutions. advances, from design to the field “.

According to the company, one of the main drivers of the shift to an integrative approach in electronics manufacturing is the automotive industry, which is pursuing innovations in the electric vehicle market, due to the growing demand for clients.

Lutz Meschke, board member responsible for investment management at Porsche SE, said that “due to rapid technological advancements and ever increasing demands for new generations of chips, we see enormous market potential for proteanTecs technology leveraging predictive technology. reliability, performance and power management.

“We see clear benefits and the need to use this technology in a wide range of industries, including the automotive industry,” he added.

ProteanTecs is headquartered in Israel, with offices in New Jersey, California, Germany, and Taiwan.

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