Semiconductor co Xsight Labs raises $300m at $2.8b valuation

Xsight Labs, an Israeli semiconductor company, raised $300 million at a $2.8 billion valuation. The round was led by Fidelity Management & Research Company with participation from multiple investors. The company's X2 Switch processors were successfully tested in SpaceX's new V3 satellites last week.

Xsight Labs, an Israeli semiconductor company managed from Kiryat Gat, announced a $300 million funding round at a $2.8 billion valuation. The round was led by Fidelity Management & Research Company, with participation from Aliya Capital Partners, Atreides Management, Artisan Partners, Battery Ventures, Diagonal Capital, Intel Capital, Key1 Capital, Maverick Capital, Sienna, T. Rowe Price, Union Group, and Valor Equity Partners. Serial entrepreneur Avigdor Willenz, an initial investor, serves as chairperson. The timing follows a successful joint trial of Xsight's X2 Switch processors in SpaceX's new V3 satellites last week. The X2 is fully programmable, making it suitable for space applications. The company plans to use the capital to accelerate its DPU roadmap, support Ultra Ethernet Consortium standards, grow engineering and customer support teams across the US, Israel, Europe, and Asia, and scale manufacturing and supply chain operations for high-volume Tier-1 customer orders.