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iAngels Israeli Deal Digest – April 2019

Welcome to the iAngels Monthly Deal Digest, a summary of movements in the Israeli startup market. This April we tracked 29 announced deals totaling $788M, and 6 exits totaling $2.4B. FinTech and cybersecurity were the leading sectors this month. Lemonade, an InsurTech company, designed to offer homeowners and tenants insurance powered by AI and behavioural […]

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Welcome to the iAngels Monthly Deal Digest, a summary of movements in the Israeli startup market.

This April we tracked 29 announced deals totaling $788M, and 6 exits totaling $2.4B.

FinTech and cybersecurity were the leading sectors this month. Lemonade, an InsurTech company, designed to offer homeowners and tenants insurance powered by AI and behavioural economics by replacing brokers and bureaucracy to guarantee zero paperwork and instant coverage, raised $300M in a growth financing round led by Softbank’s Vision Fund with the participation of Aleph LP, Expansion Venture, General Catalyst, OurCrowd, Sequoia Israel, Sound Ventures, Thrive Capital, Tusk Ventures, XL Innovate and including the Corporate VC Allianz X. Armis Security, a cybersecurity company that eliminates the IoT security blind spot, protecting enterprises from the threat of unmanaged or rogue devices and networks, completed a $65M growth round led by Sequoia Capital with the participation of Bain Capital, Cerca Fund, Insight, Red Hot Capital Partners, Tenaya, the Corporate VC Intermountain Ventures, and a few private investors.

On the M&A side, we saw three large acquisitions including EFI, SAManage, and Magisto. EFI, a machine vision company, that is involved in digital imaging and print management solutions for commercial and enterprise printing, was acquired by Siris Capital for $1.7B. SAManage, a SaaS company that enables modern organizations worldwide to deliver a superior service experience to their employees, was acquired by SolarWinds for $350M. Magisto, a company that operates a cloud-based mobile video platform to upload, edit, and share video memories with friends and offers services for creating and sharing personal movies, was acquired by Vimeo for $200M.

April 2019 Investment Highlights

Seed Rounds

  • Crowdsense.ai, a FinTech B2B startup, whose core technology is a fully automated intelligence engine for institutional traders that detects disruptive events before they reach the news, received $0.22 million from private investors.
  • Brandable Technologies, an online B2B marketplace, enabling companies to buy top quality promotional and office products at low prices, received $0.12 million in seed funding from the Barclays Accelerator.

A Rounds

  • VDroom, an AI startup that has developed an interface for managing the images of hotels and online tourism properties, with the creation of VR/360 images of tourism assets, has raised $0.33 million in a Series A financing round from private investors via ExitValley.
  • Run:AI, a company that has developed an automated distributed training technology which virtualizes and accelerates deep learning, speeding up the training of neural network models and enabling the development of large AI models, has raised $10 million in a Series A financing round co-led by S Capital and TLV Partners.
  • HomeTalk, a company that has become the world’s leading Do-It-Yourself Home & Garden community allowing homeowners, bloggers, and professionals to share their DIY projects has raised $15 million in a Series A financing round led by NFX with the participation of Adam Neumann, AltaIR Capital and private investors.
  • ExamPAL, a startup that is disrupting the test prep industry with a fully personalized online learning experience, using AI to forecast what would be the fastest way for the learners to solve any question by studying the way they think, received $2.2 million in a Series A financing with the participation of HighGrade Ventures, the holding company EduLab and private investors.
  • Splitty Travel, a booking platform based on patent-pending technologies, that detects and offers its users significantly reduced prices, has closed $6.75 million in a Series A financing round led by Fosun RZ Capital with the participation of 11-11 Ventures, 2B Angels, Founders Group, Corporate VCs such as Taya Ventures and Cockpit, the Accelerator TechStars, BIP and a private investor.
  • Phantom Auto, a remote control-as-a-service safety solution for autonomous vehicles, using low-latency, high-bandwidth technology which allows trained teleoperators to remotely support AVs encountering challenges that can’t be resolved by current autonomous technology or when passengers seek assistance, has raised $13.5 million in a Series A financing round led by Bessemer, with the participation of Maniv Mobility Fund, OurCrowd, Tectonic Capital, the holding company Wolfson Group and a private investor.
  • Betalin Therapeutics, a pre-clinical stage company developing an innovative cell therapy solution for diabetes treatment with a game-changing technology (an Engineered Micro-Pancreas) which aims to replace insulin therapy for millions of patients worldwide, has closed $2.5 million in a Series A financing round with the participation of Shay Sapir Investment and several private investors.
  • Oriient, a company that helps brick-and-mortar retailers integrate their stores into a shopper’s digital experience, enabling them to extend the digital experience into the store itself, has completed a $4 million Series A funding round with the participation of F2 Capital Fund, Innogy Innovation Hub and NGN Partners.

B Rounds

  • ProteanTecs, a company that predicts failures in electronics by monitoring chips’ health and performance throughout their full lifecycle, applying machine learning to novel data, has raised $35 million in a Series B financing round from Redline Capital, Viola Ventures, Zeev Ventures, WRVI Capital, ITI fund, Corporate VCs such as Mitsubishi UFJ Capital and Intel Capital, and several private investors.
  • Teridion Technologies, a startup that is redefining content delivery by bringing a personalized Internet experience to businesses and their users, with a Global Cloud Network to stream video faster, to run Web conferences seamlessly, to upload files quicker, and more, received $9 million in a Series B financing round led by JVP with the participation of Magma and Sing Tel Innov.
  • Epitomee Medical, a MedTech company, that developed and commercialized drug-free self-administered, shape-shifting capsules, aimed to prevent diabetes and address overweight & obesity co-morbidities by promoting weight loss and establishing a healthier lifestyle, has raised $8 million in a Series B financing round led by XT Hi-Tech Investments with the participation of 7Health LP, Agate Medical, Consensus Business Group, and some private investors.
  • Amenity Analytics, a tech company that developed a cloud-based analytics solutions to help businesses draw actionable insights from text on a massive scale by transforming unstructured data into targeted information and delivering it in elegant formats, has closed $18 million in a Series B financing round led by the insurance company, STARR Companies, with the participation of State of Mind Ventures, AltruJem Ventures, and Corporate VCs such as Intel Capital and Allstate Investments, as well as a private investor.
  • Tarya, a company that provides an alternative investment platform in Israel, empowering growth, retention and relevance for the benefit of the public in both alternative investments and credit solutions to individuals and small businesses, has raised $19.7 million in a Series B financing round co-led by Digital Horizon, Hetz Ventures and Viola Ventures along with private investors.
  • 3D Signals, a company that is providing a sound-based predictive maintenance and equipment monitoring system, developed SENSO-MRR, an ultrasonic acoustic sensor which predicts electro-mechanical failure long before it becomes production-interruptive, has raised $12 million in a Series B financing round led by State of Mind Ventures with the participation of Grove Ventures Fund, Dor Engineering and several private investors.
  • Aidoc, a MedTech company that is creating a novel system for medical imaging, aiming to harness the recent advances in computer vision and machine learning to improve medical image diagnosis, and help the physician find the relevant data, received $27 million in a Series B financing round led by Square Peg with the participation of TLV Partners Fund, Magma, Emerge Fund, and several private investors.
  • AudioBurst, a company that is building the world’s largest growing library of audio content by listening to and indexing millions of audio files from a plethora of sources in real time, powered by advanced NLP technology and a proprietary AI platform that indexes audio segments into searchable bursts, has closed $10 million in a Series B financing round led by the Telecom company, Dentsu, along with 2B Angels, 83North, Flint Capital, a Corporate VC, Samsung Ventures and other companies such as Elron, Hyundai, Nippon Broadcasting or Advanced Media.
  • VDOO, a cybersecurity company whose mission is to create a chain of trust across the connected world, helping secure the Internet of Things on a global scale by using a machine learning-based engine to automatically analyze security vulnerabilities in connected devices, has raised $32 million in a Series B financing round co-led by GGV Capital and WRVI Capital with the participation of 83North alongside Corporate VC such as Dell Technologies, MS&AD Ventures or NTT Docomo Ventures, and several private investors.

Growth/Miscellaneous Rounds

  • Aqua Security, a company that enables enterprises to secure their cloud native, container-based and serverless applications from development to production, accelerating container adoption and bridging the gap between DevOps and IT security, received $62 million in a Series C financing round led by the private equity fund, Insight, alongside Lightspeed, TLV Partners Fund, the Corporate VC M12 and a private investor.
  • Pagaya Technologies, an FinTech company that is focused on deploying machine learning algorithms and Big Data analytics to deliver measurably higher profits across the fixed income and alternative credit spectrum, using state-of-the-art machine learning and algorithms, has raised $25 million in a Series C funding round led by Oak HC/FT Partners with the participation of Carmel, GF Capital, the Corporate VC Digital Ventures, the insurance company Clal Insurance, Siam Commercial Bank, and a private investor.
  • Armis Security, a cybersecurity company that eliminates the IoT security blind spot, protecting enterprises from the threat of unmanaged or rogue devices and networks, with an IOT security platform that can see and control any device or network, completed a $65 million growth round led by Sequoia Capital with the participation of Bain Capital, Cerca Fund, Insight, Red Hot Capital Partners, Tenaya, the Corporate VC Intermountain Ventures and a few private investors.
  • Lemonade, an insurance company designed to offer homeowners and tenants insurance powered by artificial intelligence and behavioural economics by replacing brokers and bureaucracy to guarantee zero paperwork and instant coverage, has received $300 million in a growth round led by Softbank Vision Fund with the participation of Aleph LP, Expansion Venture, General Catalyst, OurCrowd, Sequoia Israel, Sound Ventures, Thrive Capital, Tusk Ventures, XL Innovate and including the Corporate VC Allianz X.
  • Bizzabo, a networking and mobile platform for event organizers and attendees which integrates social media to build highly-interactive event communities, helping organizers, sponsors and exhibitors, to engage directly with guests and seek out meaningful new business opportunities, has closed a $27 million Series D funding round led by Viola Growth with the participation of AfterDox, Kaedan Capital, LionBird, Maor Investments, Massa Innovations, next47, OurCrowd, Pilot Growth, Star Farm Ventures, and many private investors.
  • Rapid Medical, a biotech company that is developing products designed to treat aneurysm (abnormal expansion of the artery or vein), blood vessels, especially stroke, including a supporter that can expand into blood vessels, allow its flow, capture, and get rid of blood clots, has closed a $20 million Series C funding round co-led by JAM Capital Partners and Microport with the participation of Agate Medical, BRM Group, Gefen Capital Fund, RocSon Medtech fund, Shanghai-Israel Investment Fund, Winnovation, and a few private investors.
  • Spot.IM, a social engagement startup that brings together discovery, conversation and digital sharing, received $25 million in Series C funding from AltaIR Capital, Cerca Fund, D5 Capital, Index Ventures, Millhouse Capital, Norma Investments, and two private investors including Roman Abramovitch.
  • Reali, a real-estate platform that brings buyers and sellers together around open communications and fair home prices, making the entire process as frictionless, transparent and financially rewarding as possible, completed a $30 million growth round led by Zeev Ventures with the participation of Liquid2 Ventures, SGVC, and Signia Venture Partners.
  • Seedo, a startup that is developing a fully automated hydroponics growing device, letting users grow their own herbs’ and medicinal plants in the comfort of their own home and to control and monitor the growing process, from seed to plant, while providing optimal lab conditions to assure premium quality produce year-round, completed a $4 million financing round from private investors.
  • Can-Fite Biopharma, a biopharmaceutical company with fully integrated pharmaceutical discovery and clinical development capabilities with an advanced pipeline of proprietary compounds in phases 2 and 3 of the clinical development stages, which addresses autoimmune-inflammatory and cancer diseases, completed a $3.2 million financing round from one undisclosed investment management firm.

M&A and IPOs

  • NetNut Ltd, a provider of a secure business proxy network that routes any HTTP/S requests through residential IPs with one hop connectivity to the target site, thus providing smooth and efficient traffic flow, with high speeds and low latency, was acquired by Safe-T for $9.7 million.
  • Tufin Software Technologies, a cybersecurity company that enables customers to increase their business agility while maintaining a robust security posture across physical networks, hybrid cloud, containers and microservices, raised $105 million in its initial public offering on the New York Stock Exchange.
  • SAManage, a SaaS company that enables modern organizations worldwide to deliver a superior service experience to their employees with its enterprise service management software which accelerates efficiency and visibility into required and delivered services across an organization, was acquired by SolarWinds for $350 million.
  • Magisto, a company that operates a cloud-based mobile video platform to upload, edit, and share video memories with friends and offers services for creating and sharing personal movies, was acquired by Vimeo for $200 million.
  • PRACTi, a company that develops iPad-based retail fund management systems for small businesses and self-employed workers, was acquired by Just Eat for $8.7 million.
  • Electronics For Imaging (EFI), a machine vision company, that is involved in digital imaging and print management solutions for commercial and enterprise printing, was acquired by Siris Capital for $1700 million.

On behalf of everyone at iAngels, I’d like to thank you for tuning in to our Israel Deal Digest. If you’d like to receive a version direct to your inbox, please subscribe below.

Best,
Massimo

Massimo is an investment associate in the iAngels investment team. He is passionate about technology & innovation and enjoys working alongside entrepreneurs with disruptive business ideas looking to make an impact. At iAngels, Massimo focuses on seed as well as series A, B & C investments and has built special expertise around FinTech, Cybersecurity, Enterprise Software, Environmental Tech, AgriTech and FoodTech.

Source: https://www.iangels.com/2019/05/iangels-israeli-deal-digest-april-2019-2-2-2/

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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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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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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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