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iAngels Israeli Deal Digest – August 2017

Welcome to the iAngels monthly deal digest, a summary of movements in the Israeli startup market. This August we tracked 24 announced deals totaling $405M, and one massive WeWork round of $4.4B bringing the total amount raised in August to $4.8B. On the M&A side, August was a great month for Israeli companies with  7 acquisitions for a disclosed $1.54B, including […]

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Welcome to the iAngels monthly deal digest, a summary of movements in the Israeli startup market.

This August we tracked 24 announced deals totaling $405M, and one massive WeWork round of $4.4B bringing the total amount raised in August to $4.8B. On the M&A side, August was a great month for Israeli companies with  acquisitions for a disclosed $1.54B, including Plarium, a social gaming company that was acquired for $500M and R2Net, a solution for jewelry e-commerce that was acquired for $328M.

Read on for the full scoop!

August investment highlights

Seed Rounds

  • ClanPlay, a messaging app for gamers, has raised a $1M seed round from F2 Capital, MJ Fahmi – Babil Games, and Anton Gauffin – CEO of Huuuge Games.
  • VRHealth, a developer of Virtual Reality environments to enhance physical therapy, has raised a $1.95M round, led by ExitValley.

Series A Round

  • Namogoo, a developer of an e-commerce security solution, has raised an $8M round led by GreatPoint Ventures with participation from Blumberg Capital and Inimiti Capital.
  • SpaceIQ, a Facility Management Software, raised a $7M round led by Vertex Ventures, Xplorer Capital, Bullpen Capital, Divergent Ventures and RoundTwo Capital.
  • Karius, a developer of a solution for infectious disease diagnostics, has raised $50M, led by Data Collective (DCVC) and Lightspeed Venture Partners, with participation from Tencent and Khosla Ventures. 
  • Healthy.io, a solution for turning smartphone cameras into clinical-grade medical devices, has raised a $12M round led by Quantum Pacific Ventures.
  • Brayola, an e-commerce platform for bras, has raised $2.5M round from The Firstime Fund, Ilan Shiloah, Nir Tralovsky, Jonathan Benartzi, and other private investors.
  • MedAware, a solution for the detection of prescription errors, has raised an $8M round with investments from Becton, Dickinson & Co, Gefen Capital, OurCrowd and Yingcheng City Fubon Technology Co.
  • Amenity Analytics, a developer of a platform for deriving insights from text, has raised $7.6M round led by State of Mind Ventures.
  • Mobility Insight, a developer of a vehicle fleet and transportation management solution, has raised a $3M round led by Champion Capital Group.

Series B Rounds

  • GuardiCore, a cyber security company providing network security solutions for software defined data centers, has raised $15M, led by TPG Growth and Greenfield Partners, with participation from Battery Ventures, 83North, Cisco Investments and Dell Technologies.
  • Proov, a proof of concept platform, has raised $14M round led by Helios Capital and Mangrove Capital Partners with participation from OurCrowd and Cerca Partners.
  • Amitree, a tool for real estate agents, has raised a $7M round led by Vertical Venture Partners, with participation from Accel Partners and Seven Peaks Ventures.
  • OryX Vision, a company developing Light Detection and Ranging systems for self-driving vehicles, has raised a $50M round led by Third Point Ventures and WRV.
  • Innoviz, another company developing Light Detection and Ranging system for self-driving vehicles, has raised $65M round led by Delphi Automotive and Magna International, along with other investors
  • Puls (previously CellSavers), an on-demand smartphone and tablet repair service, has raised $25M round led by Red Dot Capital Partners with participation from Samsung next, Maverick ventures, Kreos Capital, Sequoia Capital and Carmel Ventures
  • RescueDose, which has developed a compact robot system for dispensing liquid drugs for injection, has raised a $2.5M round led by ERA Brazil Israel

Growth/Miscellaneous Rounds

  • WeWork, a global co-working space giant has raised a massive $4.4B round from SoftBank Group, 
  • PrimaryData, an enterprise metadata engine, has raised $20M round from Pelion Venture Partners, Accel, Battery Ventures and other investors.
  • Eloxx, a company developing therapeutics for genetic diseases, has raised an $8M round led by LSP with participation from Pontifax VC, OPKO Health Inc., Quark, Catalyst, KIP, and additional private investors.
  • Signals Analytics, a system dedicated to driving product portfolio optimization, has raised $8M round led by Pitango Growth with participation by existing investors, Sequoia Capital and Qumra Capital.
  • Happify, a developer of behavioral health applications, has raised $9M round led by T Capital Partners.
  • Mapi Pharma, a developer of lifecycle management pharmaceuticals, has raised a $10M round from aMoon Fund, an Israeli firm founded by Marius Nacht and Dr. Yair Schindel.
  • Redis Labs, a database company that specializes in in-memory databases, has raised $44M round led by Goldman Sachs.
  • ScaleMP, a provider of virtualization solutions facilitating software based computing, has raised a $10M round led by Bank Leumi’s investment banking arm, Leumi Partners Ltd.

M&A and IPO

  • Pelarium, a social gaming company, was acquired by Aristocrat, one of the largest manufacturers of gaming solutions and poker machines in the world, for a reported $500M.
  • R2Net, providing solutions to transition bricks and mortar jewelry stores into e-commerce retailers, was acquired by Signet, world’s largest retailer of diamond jewelry, for a reported $328M
  • ZoomInfo, a B2B data platform was acquired by private equity firm Great Hill Partners for a reported $240M.
  • DoubleVerify, a provider of online media verification and campaign effectiveness solutions, was acquired by Providence Equity Partners for a reported $200M.
  • Luminati, a division of hola Networks and an IP proxy network for businesses was acquired by EMK CApital for a reported $200M.
  • DiP-Tech, a provider of solutions for digital printing on glass, was acquired by Ferro, a global supplier of technology-based functional coatings and color solutions, for a reported $80M.
  • Brenmiller Energy, a developer of hybrid energy sources like solar, biomass or any other heat source, for covering electric base load demands, has raised $15M on the Tel Aviv Stock Exchange (TASE).
  • Vbrand, a developer of an AI platform to measure brand exposure and impact in sports programming, was acquired by Nielsen, a global information, data and measurement company for an undisclosed amount.
  • Streetsmart,  a developer of a decision support system for drivers was acquired by Gett, a global ride sharing app was acquired for an undisclosed amount.
  • Unomy, a developer of sales and marketing intelligence platform, was acquired by WeWork, a global co-working space giant, for an undisclosed amount
  • Applause, a provider of digital experience quality tools, was acquired by Vista Equity Partners, for an undisclosed amount.

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.

Best,
Avi

Source: https://www.iangels.com/2017/09/iangels-2017-august-deal-digest/

Private Equity

Boston startups expand region’s venture capital footprint

This year has shaken up venture capital, turning a hot early start to 2020 into a glacial period permeated with fear during the early days of COVID-19. That ice quickly melted as venture capitalists discovered that demand for software and other services that startups provide was accelerating, pushing many young tech companies back into growth […]

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This year has shaken up venture capital, turning a hot early start to 2020 into a glacial period permeated with fear during the early days of COVID-19. That ice quickly melted as venture capitalists discovered that demand for software and other services that startups provide was accelerating, pushing many young tech companies back into growth mode, and investors back into the check-writing arena.

Boston has been an exemplar of the trend, with early pandemic caution dissolving into rapid-fire dealmaking as summer rolled into fall.

We collated new data that underscores the trend, showing that Boston’s third quarter looks very solid compared to its peer groups, and leads greater New England’s share of American venture capital higher during the three-month period.

For our October look at Boston and its startup scene, let’s get into the data and then understand how a new cohort of founders is cropping up among the city’s educational network.

A strong Q3, a strong 2020

Boston’s third quarter was strong, effectively matching the capital raised in New York City during the three-month period. As we head into the fourth quarter, it appears that the silver medal in American startup ecosystems is up for grabs based on what happens in Q4.

Boston could start 2021 as the number-two place to raise venture capital in the country. Or New York City could pip it at the finish line. Let’s check the numbers.

According to PitchBook data shared with TechCrunch, the metro Boston area raised $4.34 billion in venture capital during the third quarter. New York City and its metro area managed $4.45 billion during the same time period, an effective tie. Los Angeles and its own metro area managed just $3.90 billion.

In 2020 the numbers tilt in Boston’s favor, with the city and surrounding area collecting $12.83 billion in venture capital. New York City came in second through Q3, with $12.30 billion in venture capital. Los Angeles was a distant third at $8.66 billion for the year through Q3.

Source: https://techcrunch.com/2020/10/23/boston-startups-expand-regions-venture-capital-footprint/

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Private Equity

Alternative Investments/Real Estate: Housing Market Demand Is “Insane”

Speaking to CNBC on Power Lunch, Glenn Kelman, CEO of real estate brokerage Redfin (NASDAQ: RDFN), said he expected the current boom conditions in the housing market to last well into next year. He attributed the high demand to affluent professionals looking for remote homes as well as low interest rates. Also, he thinks some sellers will put their properties on the market only after the presidential election.

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Alternative Investments/Real Estate: Housing Market Demand Is “Insane”

https://platodata.net/wp-content/uploads/2020/10/alternative-investments-real-estate-housing-market-demand-is-insane.jpg

Redfin CEO Glenn Kelman says the boom could last into next year.

Speaking to CNBC on Power Lunch, Glenn Kelman, CEO of real estate brokerage Redfin (NASDAQ: RDFN), said he expected the current boom conditions in the housing market to last well into next year. He attributed the high demand to affluent professionals looking for remote homes as well as low interest rates. Also, he thinks some sellers will put their properties on the market only after the presidential election. (CNBC)

Kelman: Too good to last forever

“This level of demand is absolutely insane. I would expect it to last into 2021, at least,” Kelman said.

Recent data from the National Association of Realtors shows up the strength in the housing market.

Existing home sales shot up 9.4% in September beating expectations. Even though the median purchase price of a home rose approximately 15% year over year, there is just a 2.7-month supply of for-sale homes, showing tight market inventory conditions.

The 30-year fixed-rate mortgage averaged 2.80% for the week ending Oct. 22, down from 2.81% in the previous week and 3.75% a year ago, according to the Freddie Mac Primary Mortgage Market Survey. Therefore, mortgage rates crept even lower in the latest week.

However, “there’s no way it can last forever,” Kelman warned of the bullish conditions.

Canada: Off the charts

Meanwhile, at the northern neighbor, home sales activity in September is described as “off-the-charts.”

Housing data released by the Canadian Real Estate Association (CREA) last week showed a nationwide year-over-year increase in sales of 45.6%.

This was a new all-time monthly record for the third month in a row.

“This is starting to sound like a broken record (about records being broken), but Canadian home sales and prices set records once again in September … as they did in July and August,” said Shaun Cathcart, senior economist at CREA, in a statement.

Real Estate ETFs in the U.S.

The year-to-date performance of some real estate ETFs is shown below:

iShares U.S. Home Construction ETF (ITB)              +24.61%

SPDR S&P Homebuilders ETF (XHB)                          +20.83%

Vanguard Real Estate Index Fund ETF                      -13.91%

It may be noted that despite the boom conditions in housing, real estate ETFs and stocks have declined in recent days.

According to Barron’s, this may be due to yields on the 10-year and 30-year Treasuries moving higher in recent weeks.

Other reasons could be fears of inflation ticking up in the future amidst an improving economic situation.

Nevertheless, the view is that interest rates are likely to remain low for longer. So demand may remain strong.

“Part of what is fueling this boom is that the economy has just split into two and rich people are able to access capital almost for free, so, of course, they’re going to use that money to buy homes,” said Redfin’s Kelman.

Related Story:   Mortgage Rates Set Another Record Low; Real Estate ETFs Could Benefit

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Source: https://dailyalts.com/alternative-investments-real-estate-housing-market-demand-is-insane/

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Private Equity

Asda’s new owner EG Group seeks new leadership ahead of IPO – report

EG Group is owned by the billionaire Issa brothers and the private equity firm TDR Capital, who teamed up for a £6.8 billion takeover of Asda last month

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UK grocer Asda Group’s new owner EG Group is looking for a new chairman and independent directors as it prepares for a £10bn initial public offering, The Timesreports.

EG Group is owned by the billionaire Issa brothers and the private equity firm TDR Capital, who teamed up for a £6.8 billion takeover of Asda last month.

The move comes after Deloitte resigned last week as the company’s auditor because of concerns over the group’s governance and lack of internal controls, according to the publication.

A decision on candidates will be taken before the end of this year, although roles haven’t been finalised yet as the company is in the process of deciding whether to float in the UK or the US, The Times reports.

Write to Barcelona editors at barcelonaeditors@dowjones.com

From Dow Jones Newswires

Source: https://www.penews.com/articles/asdas-new-owner-eg-group-seeks-new-leadership-ahead-of-ipo-reports-20201023

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