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iAngels December Deal Digest

Happy new year to you and your families. As we enter 2017, iAngels is grateful for your attention and eager to hear your feedback about the Monthly Deal Digest. What do you like about it? What can we improve? Please feel free to send us an email via max@iangels.co. This December we tracked 21 announced deals totaling $416m, […]

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Happy new year to you and your families. As we enter 2017, iAngels is grateful for your attention and eager to hear your feedback about the Monthly Deal Digest. What do you like about it? What can we improve? Please feel free to send us an email via [email protected]

This December we tracked 21 announced deals totaling $416m, alongside seven acquisitions for a disclosed $156m. Obvious highlights were Houseparty, Lemonade, Bluevine, Lumus, and Nova Lumos announcing monster rounds, while in parallel Snapchat’s first Israeli acquisition created a new R&D center in Israel.

Read on for the full scoop!

Seed Rounds

  • Intezer Labs, a cybsercurity company providing a visual map of all software running in an organization at any given moment, raised $2m led by Samsung Next and CyberArk co-founder Alon Cohen.
  • Nurami Medical, a synthetic tissue developer , raised $650,000 from AMIT, the Technion hub for biomedical innovation.

Series A Rounds

  • Capitalise, a platform enabling traders to create and execute trades based on natural language, raised $4m in a round led by Poalim Capital Markets and StageOne Ventures.
  • Knowmailan intelligent email management solution, raised $3.5m led by CE Ventures, with participation from existing investors.
  • SecDo, a cybersecurity incident response solution, raised $6m in a round led by RDC, subsidiary of Elron, with participation from Rafael and Checkpoint co-founder and chairman Marius Nacht.
  • Gordian Surgical, a laparoscopic surgery closure device, raised $2.25m in a round led by B.Braun with participation from VI Ventures and private investors.
  • Breezometer, a leading provider of air quality analytics, raised a $3m round led by Phi Square Ventures with participation from SeedIL, Entree Capital, and Liron Rose.
  • Hippo Insurance, an insurtech start-up focused on homeowners, raised a $14m party round led by Horizons Ventures with participation from GGV Capital and 10 other investors.
  • RoutePerfect, an online trip planning tool that helps travelers create a custom itinerary, raised $2m from Cyrus Angel Fund, Elevator Ventures, GlenRock, AltaIR Capital, and Meir Caspi.
  • xPlenty, a platform enabling SMBs to read and process data from relational databases, raised $4m in a round that included Bain Capital, Rembrandt Ventures, True Ventures, and existing investors. This round enabled xPlenty to acquire Driven, a big data application infrastructure.
  • DIR Technologies, a developer of thermography based inspection for pharmaceutial quality assurance, raised $10m from Pfizer Venture Capital.

Series B Rounds

  • After extending its seed round by $14m in August, Lemonadethe on-demand home and renter insurance platform turned on the juice in December, announcing a $33m round led by General Catalyst with participation from Thrive Capital, GV, and existing investors.
  • Beamr, a provider of encoding and optimization solutions for streaming video providers, extended its Series B round this December, taking another $4m from Verizon Ventures.
  • Evercompliant, a cyberintelligence solution helping acquiring bansk and payment service providers to manage merchant-based fraud, raised $9.5m led by Arbor Ventures with participation from Carmel, Nyca, and Star Farm Ventures
  • RedHill, a drug development company focused on inflammatory and gastrointestinal diseases, raised $15m in a PIPE from Emc2 Fund.

Growth/Miscellaneous Rounds

  • Lumusa developer of optical imaging technology enabling augmented and mixed reality, extended its $15m D round by $30m led by Quanta Computer with participation from HTC and existing investors.
  • Housepartya group video chat app, pulled in a $52m slug led by Sequoia, with participation from Greylock, Comcast Ventures, and Aleph.
  • Bluevine, an invoice financing company focused on SMBs, raised $49m in a round led by Lightspeed with participation from Citi, Greylock, Rakuten, Menlo, and others. This brings its 2016 total to $94m!
  • Nova Lumos, an on-demand solar energy company providing affordable energy to off-grid homes in Africa, raised $40m in equity led by Pembani Remgro with participation from Schneider Electric, and ICV, as well as $50m in venture lending from OPIC.
  • OrthoSpace, a medical device used to treat rotator cuff injuries, raised $7m in a round led by Johnson and Johnson with participation from existing investors.
  • Neovasc, a medical device company addressing cardiovascular disease and complications , raised $75m in a PIPE from Boston Scientific.

M&A

  • HearMeOut, a social audio platform, raised $5m on the ASX.
  • Hanita Coatings, a developer and manufacturer of coating materials, was acquired by Avery Dennison, a leading in global packaging for $75m.
  • Cronologics, a smartwatch OS platform started by ex-Googlers, was acquired by Google for an undisclosed amount.
  • Framez, an online platform for managing video products, was acquired by Israeli start-up LookAt, which is developing a platform to discuss videos in production, for an undisclosed amount.
  • Cimagine, a developer of a mobile AR platform for home and office goods, was acquired by Snapchat, for $35m and will now establish an R&D center in Israel.
  • Hexatier, a cloud database security and compliance solution, was acquired by Huawei for $42m.
  • RiT technologies, a provider of data center infrastructure management tools, was acquired by YOFC, the world’s largest fiber optic company, in a deal worth about $1m.

On behalf of everyone at iAngels, I’d like to thank you for tuning into our deal digest.  

If you’d like to receive our monthly digest in your inbox, please subscribe below. 

Love,
Max

Max Marine
Max Marine is an iAngels Investment Analyst. Prior to iAngels, Max was a Junior Partner at Venture1st, providing marketing and communications support to Israeli start-ups. Max passed the three CFA exams consecutively, holds an MS in Investment Management, and a B.B.A. in Finance, Real Estate, and Risk Management and Insurance from Temple University’s Fox School of Business. Contact him at [email protected]

[/av_textblock] Source: https://www.iangels.com/2017/01/iangels-december-deal-digest/

Private Equity

Alternative Investments: Accelerate’s Alt ETFs Now On RBC Dominion Securities A+ Platform

Accelerate Financial Technologies Inc announced this week that its alternative ETFs have been added to the RBC Dominion Securities A+ platform. RBC Dominion Securities describes the A+ as the next level of wealth management.

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Alternative Investments: Accelerate’s Alt ETFs Now On RBC Dominion Securities A+ Platform

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The A+ is for you if “you require serious investment management for your serious money.”

Accelerate Financial Technologies Inc announced this week that its alternative ETFs have been added to the RBC Dominion Securities A+ platform.

RBC Dominion Securities describes the A+ as the next level of wealth management.

For select clients with serious money, the platform provides greater convenience, customization, RBC’s Unified Managed Account technology, access to elite money managers worldwide, and tax efficiency.

Accelerate’s Alt ETFs on RBC A+

The range of alternative ETFs from Accelerate allows investors to diversify beyond stocks and bonds by including alternative asset classes in their portfolios.

The firm is known as a pioneer in institutional caliber alternative ETFs including hedge fund and private equity ETFs. It claims it is “disrupting the asset management industry by offering performance-oriented alternative investment strategies previously reserved for wealthy investors at a fee significantly lower than competitors.”

“We are pleased to be chosen by RBC Dominion Securities, a global leader in wealth management, as one of the select group of high-quality investment managers on the exclusive A+ platform for RBC Dominion Securities advisors and their clients,” said Accelerate CEO Julian Klymochko. “In an era of rock-bottom interest rates and record-high stock market volatility, we are pleased to provide investors with diversification, alternative yield, and alpha generation solutions through alternative investment strategies including absolute return, arbitrage, enhanced equity, and private equity replication.”

Selected ETFs

The alternative ETFs on the RBC Dominion Securities A+ platform include:

  • Accelerate Absolute Return Hedge Fund (TSX: HDGE) – a diversified, liquid, and performance-oriented long-short equity hedge fund
  • Accelerate Arbitrage Fund (TSX: ARB) – provides exposure to SPAC arbitrage and merger arbitrage investment strategies
  • Accelerate Enhanced Canadian Benchmark Alternative Fund (TSX: ATSX) – combines exposure to the S&P/TSX 60 plus a long-short Canadian equity overlay
  • Accelerate Private Equity Alpha Fund (TSX: ALFA) – designed to provide investors with private equity-like investment returns

Related Story:  Liquid Alt ETF Provider Accelerate Offers Ready-Made Alternative Investment Strategy                                                

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Source: https://dailyalts.com/accelerates-alt-etfs-now-on-rbc-dominion-securities-a-platform/

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Private Equity

Venture Capital: AgTech Startup Benson Hill Lands $150M

Benson Hill, an agtech startup based in St. Louis, announced Thursday its close of a $150 million Series D round led by Wheatsheaf and GV (formerly Google Ventures). It uses biotechnology and data science to enhance the nutritional qualities and sustainability of crops.

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Venture Capital: AgTech Startup Benson Hill Lands $150M

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Benson Hill uses biotechnology and data science to enhance the nutritional qualities and sustainability of crops.

Benson Hill, an agtech startup based in St. Louis, announced Thursday its close of a $150 million Series D round led by Wheatsheaf and GV (formerly Google Ventures).

The company said other strategic and ESG focused investors also participated. These included Argonautic Ventures, Caisse de dépôt et placement du Québec (CDPQ), Emart, GS Group, Louis Dreyfus Company, iSelect Fund, Fall Line Capital, Mercury Fund, Prelude Ventures, Prolog Ventures, S2G Ventures, and additional strategic and family office investors.  (FOOD navigator-USA.com)

Benson Hill technology

Benson Hill uses biotechnology, data science, and AI to enhance the nutritional qualities, flavor, and sustainability of crops and vegetables.

The firm’s “Cloud Biology” is the fusion of data, machine learning, and AI techniques with biology. Its “CropOS” is a proprietary platform that facilitates the accessibility and actionability of Cloud Biology.

The CropOs platform uses plant phenotyping, predictive breeding, and environmental modeling algorithms to better control the plant breeding process and realize these advantages:

  • Produces plants that are highly productive, highly nutritious, and better tasting
  • Better texture
  • Reduce the number of processing steps
  • Reduce the need for additives
  • Grow plants that “do more with less,” thus boosting sustainability

The company’s work so far has been concentrated around soybeans.

Its new, ultra-high-protein (UHP) soy products spiked the interest of investors. They come from a highly productive non-GMO soybean that is rich in oleic oil content.

Use of funds

Benson Hill plans the commercial launch of the first Ultra-High Protein soybean varieties in 2021, among other product launches.

It also plans to expand its team by adding top talent and continue the development of Cloud Biology and CropOS.

“As a society, we’re at a crossroads made more evident as the pandemic has revealed strengths and vulnerabilities in our food system,” said Matt Crisp, Benson Hill CEO. “Food choices that create enjoyment, make us stronger, and help preserve our environment need to be accessible to everyone, and the power of plant diversity and technology innovation can help fuel that evolution.

Related Story:   Smart Farm Technology To Take The Drudge Out of Plant Breeding

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Source: https://dailyalts.com/agtech-startup-benson-hill-lands-150m/

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Private Equity

FinTech: Alliance Data Buys BNPL Fintech Bread For $450M

Alliance Data Systems (NYSE: ADS) said Thursday that it will acquire Bread and its digital platform for $450 million of which $100 will be paid through Alliance stock. The transaction would expand Alliance Data’s own digital offerings by including buy-now-pay-later (BNPL) products.

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FinTech: Alliance Data Buys BNPL Fintech Bread For $450M

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Alliance Data will pay in cash and stock for the acquisition.

Alliance Data Systems (NYSE: ADS) said Thursday that it will acquire Bread and its digital buy-now-pay-later (BNPL) platform for $450 million of which $100 will be paid through Alliance stock.

The transaction would expand Alliance Data’s own digital offerings by including BNPL products. BNPL is a major trend now that consumers have embraced the interest-free, zero-fee facility to pay in installments. Alliance is a provider of data-driven marketing, loyalty, and payment solutions. (Alliance)

Digital BNPL is particularly popular with millennials and the younger set. They prefer not to run up credit card debt and like the speed and convenience. The technology and products acquired from Bread will address this segment of the population.

Bread already has tie-ups with merchants such as online jewelry seller Noémie, the luxury watch seller Hublot and Newton Baby, the crib mattress provider.

BNPL customer experience

“Bread’s flexible, easily-integrated payment solutions, coupled with Alliance Data’s Enhanced Digital Suite, will improve the digital customer experience and support increased acquisition and checkout rates, offering the best payment product to the right consumer at pivotal moments in the customer’s online shopping journey,” Alliance said in a statement.

Alliance intends to leverage Bread’s solutions along with its own existing private label, general-purpose and commercial products.

COVID-19

Its brand partners will therefore get another advantage in the eCommerce channel, with online businesses already getting a boost from COVID-19.

“With the timing of the holiday season upon us, the COVID-19 pandemic has accelerated the adoption of digital technologies, and perhaps nowhere as significantly as in financial services and payments,” said Val Greer, chief commercial officer, Alliance Data.

BNPL is now crowded with cash-rich players

Payments giant PayPal (NASDAQ: PYPL) announced in August that it would begin offering BNPL services, recognizing that COVID-19 had triggered a dramatic increase in their popularity.

Other players in the BNPL field include Klarna, Affirm, Afterpay, and Quadpay.

In a recent study, Tech Crunch found that PayPal had the highest retailer coverage with a presence of 65% retailers. Afterpay was a distant second at 10%, then Affirm 6%, Klarna 5%, and QuadPay 2%.

The study concluded that PayPal was primed to dominate the BNPL wars.

Related Story:   PayPal Challenges Klarna In U.K. BNPL Tussle                                                

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Source: https://dailyalts.com/alliance-data-buys-bnpl-fintech-bread-for-450m/

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