Silicon Valley automotive ethernet chip startup Ethernovia raises $64 million

The team from Silicon Valley automotive ethernet chip startup Ethernovia, from left to right - Hossein Sederat, CTO and Co-Founder, Ramin Shirani, CEO and Co-Founder, Roy Myers, SVP of Engineering and Co-Founder, and Darren Engelkemier, VP of Silicon Engineering and Co-Founder, work together at the Ethernovia Offices, in San Jose, California, U.S., in this handout obtained by Reuters on May 13, 2023. Courtesy of Ethernovia/Handout via REUTERS

OAKLAND, California (Reuters) - Silicon Valley automotive ethernet chip startup Ethernovia Inc said on Monday it had raised $64 million in a Series A funding round including Porsche Automobil Holding SE, Qualcomm Ventures, VentureTech Alliance and others.

As automakers pivot to electric vehicles with more driver assistance functions, they are revamping the electronics to eliminate dozens of cables that crisscross the car linking up over 100 microchips. Instead, they are building a central computer to control everything from camera and radar sensors to the windows and the entertainment dashboard.