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iAngels Israeli Deal Digest – December 2017

Welcome to the iAngels monthly Deal Digest, a summary of movements in the Israeli startup market. This month we are closing 2017 with 22 announced deals totaling in $780M, including the $450M raised by Compass and $120M raised by Lemonade. Read on for the full scoop!   December investment highlights   Seed Rounds   Splitty, a Travel tech company […]

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

This month we are closing 2017 with 22 announced deals totaling in $780M, including the $450M raised by Compass and $120M raised by Lemonade.

Read on for the full scoop!

December investment highlights

Seed Rounds

  • Splitty, a Travel tech company the brakes traditional hotel packages and combine several offers to provide cheaper accommodation, has raised a seed round of $2.4M from Techstars Ventures, Techstars Accelerator, AOL, and BIP Capital.
  • Shoodoo Analytics, a developer of an Analytics-as-a-Service platform for advanced data and predictive analysis, has raised $550K in a seed financing round from the VLX Ventures technological incubator.

Series A Rounds

  • Upstream Securitya cybersecurity platform for connected cars and autonomous vehicles, has raised a $9M financing round led by CRV (Charles River Ventures, with participation from Glilot Capital Partners and Maniv Mobility.
  • Earny, a personal assistant who automatically refund your purchases when prices drop, has raised $9M financing round led by Mayfield with participation from Comcast Ventures and Science Inc.
  • Ironscales, an automated phishing prevention, detection and response solution has raised a $6.5M financing round led by K1 Investment Management, with participation from existing investor RDC.
  • Valooto,  a developer of a cloud-based platform for digital sales and customer engagement, has raised a $3M financing round led by Cornerstone Venture Partners, with participation from Shaked Ventures.
  • SmartGreen, a developer of a platform that uses machine learning and algorithms to analyze the energy performance of buildings, has raised a $3M financing round from Tedi Sagi.
  • Magdent, a developer of a technology that uses electromagnetic fields to stimulate, accelerate and improve bone formation has raised a $1.75M financing round from three angel investors.
  • PageSeal, a developer of a cyber solution to protect sites and users from malicious code injections, has raised $1M from Alon Arbov.

Series B Rounds

  • Anodot, a company developing anomaly detection for Business Intelligence (BI), has raised a $3M Series A funding round led by Disrupt-ive Partners.
  • Bizzabo, an events management platform, has raised another $15M (just 8 months after the last financing round bringing total capital raised to $30M). the round was led by Pilot Growth Equity, with participation from Maor Investments and other investors.
  • Graduway, a software for engaging and managing alumni community, has raised $12.7M in funding from Susquehanna Growth Equity (SGE), with participation from Gigi Levy, Massa Innovations, and SaaS Capital.
  • ChemomAb, a developer of drugs for the treatment of inflammatory and fibrotic diseases, has raised a $10M financing round led by PayPal founder Peter Thiel (the first external investor in Facebook, and currently a partner in the Founders Fund venture capital fund) and OrbiMed Advisors LLC.
  • StemRad, a developer of a unique personal radiation shield for first responders (established after the after the Fukushima nuclear disaster in Japan), has raised $6M in an investment round led by Tampa Bay Lightning chairman Jeff Vinik.
  • Bugatone Ltd., which develops software that enables ordinary headphones to act as sensors, has raised $3M in a round led by China-based electronics company Oppo Electronics Corp.
  • Noveto Systems, which develops virtual earphones, has raised $2.5M in its B round from the family fund of Vyacheslav Bresht and Daniel Jammer.

Growth/Miscellaneous Rounds

  • Compass,  A technology-based real estate brokerage, has raised additional $450M from Japanese conglomerate SoftBank, only a month after raising $100M round led by
  • Lemonade inc, a company that uses artificial intelligence and bots to minimize paperwork and speed-up the claims process for renters and homeowners, has raised $120M from Softbank. 
  • Vayyar Imaging, a developer of a 3D imaging sensor has closed a $45M Series C financing round co-led by Walden Riverwood and ITI with additional funding from Claltech and follow-on investments from Battery Ventures, Bessemer Ventures, Israel Cleantech Ventures, and Amiti. 
  • Atox Bio, a clinical stage biotechnology company developing novel therapies for critically ill patients, has raised a  $30M financing round led by Arix Bioscience plc with participation from Adams Street Partners, Asahi Kasei Corporation, and additional investors. 
  • Leadspace, a developer of lead generation SAAS software, has raised $21M in Series C funding,  led by Arrowroot Capital and existing investor Jerusalem Venture Partners (JVP).
  • Ecoppia, a developer of  a unique technology for cleaning solar panels, has raised $13M in its third financing round, led by Harel Insurance Investments with participation from current investors including Swarth, the investment company of Shaul Shani; GlenRock Capital, the investment company of Leon Recanati; and Gandyr, the investment fund of Yehudit Yuval Recanati.

M&A and IPOs

  • Drippler, a developer of content recommendations and technical support app designed to help smartphone users to get the most out of their devices, and an iAngels portfolio company, has merged with Soluto, an Israeli support and digital protection service that enables users to contact premier support technicians.
  • EXO Technologies, a developer of GPS technology providing high-accuracy solutions for autonomous and connected vehicle applications was acquired by Lear Corporation (NYSE: LEA), a leading global supplier of automotive seating and electrical systems, 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/2017/12/iangels-israeli-deal-digest-december/

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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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Private Equity

Lone Star agrees £630m deal to buy UK’s McCarthy & Stone

The American private equity firm is expected to back the strategy of Britain’s biggest retirement housebuilder to build more homes for rent

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McCarthy & Stone said Friday, 23 October, that it has agreed to a £630m all-cash takeover by Lone Star Real Estate Fund VI.

Under the offer, accepting shareholders of the London-listed retirement-community builder will get 115 pence in cash for each share held, a 39% premium to its closing share price of 83 pence on Thursday, 22 October.

“The all-cash offer represents a compelling and attractive opportunity for shareholders to realise and crystallise their investment in McCarthy & Stone in the near term and also provides a meaningful premium to the prevailing share price notwithstanding the backdrop of the wider risks posed by the political and macro-economic environment,” McCarthy Chairman Paul Lester said.

Write to Ian Walker at ian.walker@wsj.com

From Dow Jones Newswires

Source: https://www.penews.com/articles/lone-star-agrees-630m-deal-to-buy-uks-mccarthy-stone-20201023

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