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Koch Industries, Porsche invest in Israeli deep data startup proteanTecs

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Koch Industries’ venture capital arm, 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 become faulty.

The $50 million investment, announced on Thursday, was led by KDT and adds to the Israeli company’s growth equity round of $45 million last August, also led by Koch’s VC division.

In addition to Porsche, the major shareholder of Volkswagon Group, investors in proteanTecs’ extension round included MediaTek, a Taiwanese fabless semiconductor company; Advantest, a Japanese manufacturer of automatic testing equipment for the semiconductor industry; and Allied Group subsidiary Champion Motors, a major Israeli auto importer.

ProteanTecs was established in 2017 by semiconductor industry veterans that include co-founders of Mellanox Technologies, the Israeli developer of high-speed servers and storage switching solutions, acquired two years ago by chipmaker Nvidia for $6.7 billion. The startup emerged from stealth mode in 2019 and immediately announced a $35 million........

© The Times of Israel

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