ProteanTecs, an Israel based leading developer of in-depth data solutions for electronics’ health and monitoring using Artificial Intelligence, closed a $45 M funding round on Thursday. Koch Disruptive Technologies (KDT) led the funding round with the participation from Valor Equity Partners and Atreides Management and the company’s existing investors. ProteanTecs will use the new funds to expand worldwide and meet the growing demands.
Founded in 2017, ProteanTecs aims to give electronics the ability to report on their performance. They provide a platform to monitor chip reliability and quality. They do it by using AI to novel data created by on-chip Agents (IPs). Then they provide actionable insights and predictions about electronics’ performance, quality, and reliability at every stage. It makes a common data language based on newfound correlation. They try to provide continuous visibility from design and production to lifetime operation, uncovering critical issues. This performance check helps businesses increase their product value by gaining insights on topics that lack and mitigating risks in design and production to prevent losses. Mistakes made during the earliest phases of chip manufacturing often result in enormous losses for the company, and thus, eliminating these risks beforehand saves a lot of time and money. PCs, servers, cars, smartphones, etc. use these chips. When these chips are in use, ProteanTechs applies analytics to trigger critical alerts.
Chip design and performance monitoring market is increasing. There is stiff competition in the market between companies like Google, Moortec, and ProteanTecs. ProteanTechs claims to stand out due to its general approach to any sort of chip. Its investors include Intel Capital, Viola Ventures, Avigdor Willenz, Redline Capital Management, etc. This latest funding brings its total raised to around $100 million.
Consultant Intern: Currently in her third year of B.Tech from Indian Institute of Technology(IIT), Goa. She is an ML enthusiast and has a keen interest in Data Science. She is a very good learner and tries to be well versed with the latest developments in Artificial Intelligence.
