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iAngels Israeli Deal Digest – August 2019

Welcome to the iAngels Monthly Deal Digest, a summary of corporate developments in the Israeli startup market. This August we tracked 27 announced deals totaling to $464 Million, and 7 exits totaling to $2.6 Billion.  IT & Enterprise Software was the leading sector this month. Cybereason, a provider of endpoint protection, offering endpoint detection and […]

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

This August we tracked 27 announced deals totaling to $464 Million, and 7 exits totaling to $2.6 Billion

IT & Enterprise Software was the leading sector this month. Cybereason, a provider of endpoint protection, offering endpoint detection and response, next-generation antivirus, managed monitoring and IR services, has received $200 Million in a growth financing round led by Softbank. AU10TIX, a developer and implementer of automated capture solutions, authentication, validation and generation of digital records for identifying documents such as passports, identity cards, driving licenses, etc.,  has received $60 Million in a Series A financing round from TPG Growth.

On the M&A side, we saw two large acquisitions – ClickSoftware Technologies and Corindus. ClickSoftware Technologies, a provider of workforce and service management software products and solutions, was acquired by Salesforce for $1.35 Billion. Corindus, a company developing and commercializing remote robotic systems for interventional procedures, was acquired by Siemens Healthineers for $1.1 Billion.  

August 2019 Investment Highlights

Seed Rounds

  • AntiShock, a medical device startup which utilizes state-of-the-art technology to develop non-invasive continuous monitoring devices assessing the flow in blood vessels to help  physicians optimize administered fluid dosage in a personalized fashion, has received $2.1 Million in seed funding, mostly from Israel’s Innovation Authority granting $1.8 million.  
  • MyPart, an AI-driven gaming platform allowing for instant discovery of songwriting talent from around the globe and maximizing revenue for music publishers by pinpointing long forgotten gems in their catalogs, has received $1.3 Million in seed funding, mostly from Abbey Road Red Accelerator. 
  • Tulou, a provider of smart solutions to transform products into shared services within the building in order to encourage responsible consumption, promote energy efficiency and reduce the cost of living in the city, has received $0.75 Million in seed funding with the participation of private Investors, among them MIT Sloan.
  • Veoli, the developer of a unique inhaler that enables patients to consume cannabis oil in an accurate dosage has received $0.65 Million in a Seed funding round participated by Sanara Ventures and Merchavia Holdings.
  • CivDrone, a construction tech startup aiming to revolutionize land surveying by using a custom-made staking mechanism controlled by autopilot algorithm and data management software, has received  $0.5 Million in seed funding, led by FF Venture Capital. 
  • MDI Health, a provider of an AI powered platform allowing decision support tools for personalized drug treatments, has received $0.5 Million in seed funding from Jumpspeed and other private investors.

A Rounds

  • AU10TIX, a developer and implementer of automated capture solutions, authentication, validation and generation of digital records for identifying documents such as passports, identity cards, driving licenses etc.,  has received $60 Million in a Series A financing round from TPG Growth.
  • Homeis, a developer of a software platform that assists immigrants, has received $12 Million in a Series A financing round co-led by Spark Capital and Canaan Partners. 
  • SofWave, a developer of an ultrasound technology platform for non-invasive skin tightening treatment closed $8.4 Million in a Series A financing round co-led by Shimon Eckhouse and  XT Hi-Tech Investments. 
  • Rookout, a provider of debugging solutions that collects data on-demand from live codes and pipelines them immediately to any destination, such as alerting and monitoring tools, has received $8 Million in a Series A financing round led by Cisco Investments. 
  • Anzu, an in-game advertising platform that brings ads into video gaming and esports, closed $6.5 Million in a Series A financing round led by BITKRAFT Esports Ventures. 
  • Salaryo, a company allowing workspaces being more accessible for tenants by avoiding traditional office security deposits, has received $5.5 Million in a Series A financing round with the participation of Michael Ullmann.
  • Versatile Natures, a provider of a patent-pending AI and IoT platform which supports construction managers with real-time, actionable insights, closed $5.5 Million in a Series A financing round led by Robert Bosch Venture.
  • Airbud, a voice platform that allows enterprises to easily add voice capabilities to their websites and mobile apps, has received $4 Million in a Series A financing round led by Hanaco VC. 
  • TriEye, a startup that developed an HD shortwave infrared (SWIR) camera solving the low-visibility challenge for ADAS and AV, has received $2 Million in Series A funding led by Porsche Ventures.
  • BC Bike, the provider of an electric-hydraulic drive-train system with continuous and automatic transmission which creates a smooth riding experience, has received $1.4 million in a Series A funding round  led by Fundit (an Angel Club / Group).
  • Ginger Bit, the provider of a custom-tailored international travel insurance for Hi-Tech companies and employees in Israel and abroad, has received  $1.3 Million in a Series A financing round from Private Investors. 
  • Comunix (Pokerface), the developer of an all-in-one video, voice, and text chat technology for game companies,  has received  $1 Million from private investors. 
  • Convizit, the provider of an autonomous insight-generation solution which enables companies to easily leverage behavioral data for tangible business benefits, has received  $1 Million in Series A funding led by Pitango. 

B Rounds

  • Zendrive, a provider of actionable insights that improve safety for passengers and drivers by leveraging mobile sensors data, has received $37 Million in a Series B funding round led by XL Innovate. 
  • MDClone, a provider of a new healthcare data paradigm, enabling fast and direct access to healthcare data while fully protecting patient’s privacy, has received $26 Million in Series B funding led by aMoon. 
  • Axonius, a cybersecurity asset management platform that provides organizations with complete visibility and automated policy validation on all assets, devices, and users, closed $20 Million in a Series B funding round led by OpenView.
  • CropX, an ag-analytics company that has developed an advanced adaptive irrigation service, which automatically optimizes irrigation, thereby delivering crop yield increases and water and energy cost savings to farms, has received $10 Million in a Series B funding round with the participation of OurCrowd, Germin8 Ventures, Finistere Ventures and others. 

Growth/Miscellaneous Rounds

  • Cybereason, a provider of endpoint protection, offering endpoint detection and response, next-generation antivirus, managed monitoring and IR services, has received $200 Million in a growth round led entirely by Softbank Group.
  • JoyTunes, a provider of an app which combines education methods and sound recognition with a patented MusicSense Acoustic Engine (making it easier to learn how to play musical instruments), has received $25 Million in a Series C funding round led by Qumra Capital. 
  • WSC Sports, a provider of an innovative workflow automation solution for sports media-right owners (and iAngels portfolio company), has received $23 Million in a Series C financing round led by O.G. Tech Ventures with the participation of iAngels.
  • Weebit Nano, a provider of a memory technology of flash through innovative sources, has received $1.7 Million funding from private investors. 

M&A and IPOs

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/2019/09/iangels-israeli-deal-digest-august-2019/

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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