Xsight Labs Raises $300 Million at $2.5 Billion Valuation, Fueled by New Customers Including Starlink

Xsight Labs, the Krayot-based chip startup founded by serial entrepreneur Avigdor Willenz, is raising about $300 million at a $2.5 billion valuation. The financing comes after the company landed several new customers, led by Starlink, the SpaceX subsidiary that recently completed a successful Nasdaq listing.

The new round marks a sharp improvement for the company after years of management changes and layoffs. Until now, Xsight Labs had been relying mainly on cash from a large funding round it closed in March 2021, at the height of the pandemic boom, when it was valued at $500 million.

Willenz, known in Israel’s semiconductor industry for a series of successful ventures, appears to be extending that track record again with Xsight Labs. The article says the company’s recent business momentum, especially the Starlink deal, helped drive the much higher valuation.

The report does not say when the current round will close, but the fundraising is underway and reflects a major turnaround for the startup compared with its earlier struggles.