Valens Semiconductor Ltd. announced Monday that it completed a $7 million Series A round of equity financing from Genesis Partners and Magma Venture Partners. Dr. Eyal Kishon of Genesis and Eitan Dekel of Magma will join Valens' board of directors.
Herzliya Pituah-based Valens is the developer of a chip said to enable high-quality transmission of audio and video in home networking. The company is headed by Dror Jerushalmi, previously director of business development at Saifun. Valens' founding team also includes Eyal Massad and Eyran Lida, members of the founding team of Mysticom.