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iAngels Israeli Deal Digest – January 2020

Welcome to the iAngels Monthly Deal Digest, a summary of corporate developments in the Israeli startup market. This January we tracked 31 announced deals totaling approximately $479 Million, and 8 exits totaling approximately $1.97 Billion.  Life Sciences and FinTech  were the two top performing sectors this month. Emendo, a biotherapeutics company that develops next generation […]

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

This January we tracked 31 announced deals totaling approximately $479 Million, and 8 exits totaling approximately $1.97 Billion

Life Sciences and FinTech  were the two top performing sectors this month. Emendo, a biotherapeutics company that develops next generation gene editing tools for genetic disorders, closed $61 Million in a series B financing round led by AnGes with participation from OrbiMed Israel, Takeda Ventures and Private Investors. Nayax, a fintech company that sells cashless products for the vending and unattended retail industry, received $60 Million in a series C financing round from an undisclosed American fund. On the M&A side, two large acquisitions were made in the fields of Enterprise Software and Communications. Armis, a company that provides a security platform to address the new threat landscape of unmanaged loT devices, was acquired by CapitalG and Insight Partners for $1.1 Billion. Further, Gilat Satellite, a company that provides end-to-end satellite-based broadband communications solutions, was acquired by Comtech for $579 Million.

January 2020 Investment Highlights

Seed Rounds 

  • Nuweba, an ultra-fast and highly-secure serverless platform, closed $5.4 Million in a seed round led by Blumberg Capital with the participation of Magma, Target Global and Private Investors.
  • IMedis, a company that develops life-saving medical software systems that quickly and efficiently analyzes medical imaging, raised $1.3 Million from Private Investors via the ExitValley equity crowdfunding platform.

A Rounds 

  • Aquant, a company that assists service organizations to maximize their product uptime, closed $30 Million in a series A financing round led by Insight Partners with the participation of Angular Fund, Lightspeed, SilverTech Ventures and WTV.
  • Epsagon, a company that focuses on automated tracing for cloud microservices, received $16 Million in series A financing led by USVP and accompanied by StageOne, Lightspeed and a Private Investor.   
  • Bond, a company that offers brands the most advanced and personalized post-purchase solutions, same-day delivery, and scheduled returns, raised $15 Million in a series A financing round from Lightspeed, MizMaa Ventures and TLV Partners Fund.
  • Pecan, a company that automates the entire predictive analytics process, significantly reducing time-to-model from months to days, collected $15 Million in a series A financing round led by Dell Capital with assistance from S Capital and Private Investors.
  • Jolt, a company that provides a flexible and cost-effective alternative to traditional MBA programs, raised $14 Million in a series A financing round co-led by Balderton Capital, Hillsven, Octopus Ventures and accompanied by 2B Angels, PICO Partners, Tank Hill Ventures, UpWest and a Private Investor.
  • Placer.ai, a company that allows anyone with a stake in the physical world to instantly generate insights into any property for a deeper understanding of the factors that drive success, received $12 Million in a series A financing round led by JBV Capital with participation from Aleph, Array Ventures, IrishAngels Ventures OCA Ventures, Reciprocal Ventures, Recursive Ventures, Stage Venture Partners and Private Investors. 
  • HelpAround, a company that aims to help chronic patients and their support systems, simplify day-to-day struggles through their smartphones, raised $6 Million in a series A financing round led by IQVIA and accompanied by PharMedQuest, Vodia Ventures, Windham Venture Partners, Zora Ventures SPV and private investors. 
  • ClariFruit, a company that has discovered a simplified approach for measuring fruits and vegetables ripeness quality, freshness, durability and taste, raised $6 Million  in a series A financing round led by Firstime with participation from Private Investors.
  • Vicarius, a cybersecurity company that aims to empower companies with proactive attack mitigations strategies for software vulnerabilities in real-time, closed $5 Million in a series A financing round led by JVP with participation from Global Investments and innogy Innovation Hub Israel.
  • Stoa, a company that is a one-stop-shop for real estate developers specializing in short term refurbishment, received $4 Million in a series A financing round led by BRM Group and helped by FTAC.
  • Ubeya, a company that developed a platform for managing seasonal or temporary employees in the business model of a catering company, raised $3.5 Million in a series A financing round led by ICV Partners with participation from 500 Startups, CornerStoneOnDemand, Magma and Private Investors. 
  • Butterfly Medical, a company that develops an innovative, implantable device for the treatment of Benign Prostatic Hyperplasia, closed $2 Million in a series A financing round by Private Investors. 
  • Blue White Robotics, a company that  is a provider and operator of unmanned systems, raised $1 Million in a series A financing round by Private Investors.

B Rounds 

  • Emendo, a biotherapeutics company that develops next-generation gene-editing tools for genetic disorders, closed $61 Million in a series B financing round led by AnGes with participation from OrbiMed Israel, Takeda Ventures and Private Investors.
  • NanoX, a company that is developing a commercial-grade digital X-ray source designed to be used in real-world medical imaging applications, received $26 Million in a series B financing round from Foxconn, Oxen9, SK Telecom Ventures, Fuji and Private Investors.
  • Iguazio, a company that digitally transforms businesses by analyzing data from a variety of sources to create actionable insights and artificial intelligence, raised $24 Million in a series B financing round led by INCapital with participation from CME Ventures, Dell Capital, JVP, Kensington Capital Partners, Magma, Pitango, Plaza Ventures, Robert Bosch Venture Capital, Samsung Ventures, Silverton Capital Ventures and Verizon Ventures. 
  • RadiAction, a company that is developing a radiation shield to enable a significant reduction in the total radiation exposure to physicians and medical staff, closed $18 Million in a series B financing round led by InnovaHealth Partners accompanied by Boya Capital, HighGround Tairun, SV Tech Ventures and Private Investors.
  • Intezer, a company that replicates the concepts of biological immune systems into cybersecurity offering enterprises threat detection and accelerated responses, collected $15 Million in a series B financing round led by OpenView with help from Magma, Samsung Next, Intel Capital, undisclosed American investors and Private Investors. 
  • CLEW Medical, a real-time AI analytics platform designed to help providers make better informed clinical decisions, raised $10 Million in a series B financing round led by Pitango with participation from Agate-JT Healthcare Fund, Relyens, Rhoen Innovations and Private Investors. 
  • SeaLights, a company that is developing a cloud-based continuous testing platform, closed $8.6 Million in a series B financing round led by Cisco Investments with assistance from Blumberg Capital, TLV Partners, Wipro Ventures and Private Investors.

C Rounds 

  • Nayax, a fintech company that sells cashless products for the vending and unattended retail industry, received $60 Million in a series C financing round from an undisclosed American fund.  
  • Verbit, a software company that captures solutions by using AI to provide the highest accuracy and fastest turnaround time for low costs, raised $31 Million in a series C financing round led by Stripes accompanied by Bouaziz & Partners, HV Holtzbrinck Ventures,Oryzn Capital, Sarona Ventures, Vertex, Vintage, Viola Ventures and ClalTech.  
  • Trusona, a company that specializes in identity authentication, closed $20 Million in a series C financing round led by Georgian Partners with help from FoundersPad, KPCB, Akamai, M12, OurCrowd, Seven Peaks Ventures and Private Investors. 
  • Grid4C, an iAngels portfolio company that develops AI and machine learning solutions to extract maximum business value out of smart meters, while delivering predictive energy insights for energy providers, collected $6 Million in a series C financing round from iAngels, Axess Ventures, Engie Ventures, ICV, Util-Assist and Private Investors.

Growth/Miscellaneous Rounds 

  • Kamada, a biopharmaceutical company that specializes in the development, manufacture and marketing of proteins as pharmaceuticals, raised $25 Million from FIMI.
  • Dragontail, a company that develops and markets software solutions, designed to optimize delivery management at fast-food restaurants, received $20 Million from Eldridge Industries, Goudy Park Capital and Alceon.  
  • Wize Pharma, a company that is focused on the treatment of ophthalmic disorders, closed $7.5 Million from Rimon Gold and a Private Investor.
  • BonUs, a biotechnology company that applies innovative technology to generate viable tissue-regenerating bone grafts, closed $7.4 Million from Wize Pharma.
  • ScoutCam, a company that specializes in developing minimally invasive endosurgical tools and highly innovative imaging solutions, received $3.3 Million from an undisclosed investor.  

M&A and IPOs 

  • Armis, a company that provides a security platform to address the new threat landscape of unmanaged loT devices, was acquired by CapitalG and Insight Partners for $1.1 Billion.
  • Gilat Satellite, a company that provides end-to-end satellite-based broadband communications solutions, was acquired by Comtech for $579 Million.
  • Ilyon, a company that specializes in social mobile games, was acquired by Miniclip for $100 Million
  • Content IQ, a company that developed a platform that allows content sites and advertisers to monitor the effectiveness of adverts that are advertised on sites,  was acquired by Perion Network for $73 Million
  • Loom Systems, a company that developed cloud-based software that enables automatic analysis of alerts and logs from all enterprise systems, was acquired by ServiceNow for $70 Million.
  • Segasec, a cyber-security company that provides end-to-end digital threat protection against customer hijacking attacks that originate in blind spots, was acquired by Mimecast for $40 Million
  • Smartair, an online marketplace company that connects travel suppliers with travelers who can easily plan their trip in one single platform, was acquired by Talma Travel for $11.5 Million
  • Brayola, a company that specializes in online lingerie retailing that helps shoppers find better-fitting bras, was acquired by Delta Galil for $1.1 Million

On behalf of everyone at iAngels, I’d like to thank you for tuning in to our deal digest. If you’d like to receive a version directly 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/2020/02/iangels-israeli-deal-digest-january-2020-2-2-2-2-2/

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Intuitive launches new investment division and fund to support healthcare companies

Intuitive, a global technology developer for minimally invasive care and robotic-assisted surgery, has launched an investment division, which includes a $100m fund.

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Intuitive, a global technology developer for minimally invasive care and robotic-assisted surgery, has launched an inves

Source: https://www.altassets.net/private-equity-news/by-news-type/fund-news/intuitive-launches-new-investment-division-and-fund-to-support-healthcare-companies.html

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Veritas Capital holds final close of its debut credit fund

Veritas Capital, a private equity firm focused on technology-enabled companies, has held the final close of its first Credit Opportunities Fund.

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Veritas Capital, a private equity firm focused on technology-enabled companies, has held the final close of its first Credit Opportunities Fund.

The vehicle has pulled in $400m of aggregate committed capital.

Veritas previously secured $6.5bn for its Veritas Capital Fund VII and has also received around $1bn in support for its co-investment division. This has brought the firm’s total capital raised over the past 12 months to $8bn and its total assets under management to $20bn, it claims.

Credit Opportunities Fund will leverage the firm’s highly differentiated deal flow and access to sector insights to embrace the complexity of a maiden fund and “act with conviction and speed.”

The firm believes credit is the natural adjacency for Veritas, due to it already having several credit investments under its belt in the technology and government sectors. It will also allow it to invest across the capital structure to offer tailored solutions.

Veritas Capital CEO and managing partner Ramzi Musallam said, “For over two decades, we have successfully invested in some of the leading, market-critical companies in technology and government across all seven of our private equity funds.

“We launched the Credit Opportunities Fund to expand on that strategy and take advantage of additional opportunities to leverage our strong sector knowledge and experience. The Fund will benefit significantly from our integrated platform and intellectual property, creating a differentiated financing partner with the ability to find highly-customized solutions for the companies in which we invest.”

The investment firm backs technology and technology-enabled solutions within the healthcare, national security, software, education, aerospace & defence, government services, communications, and energy industries.

Earlier in the year, Veritas agreed to buy the healthcare unit of IT and consulting business DXC Technology for $5bn in cash.

Copyright © 2020 AltAssets

Source: https://www.altassets.net/private-equity-news/by-news-type/fund-news/veritas-capital-holds-final-close-of-its-debut-credit-fund.html

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Somerset expands China team

Somerset Capital Management has recruited Min Chen to its China team. He joins the UK firm from Dymon Asia where he was the portfolio manager of the Prospect View China fund. Chen has previously clocked up experience at RWC and Everest Partners. He will be based Somerset’s Singapore office, according to fund global China. Chen […]

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Somerset Capital Management has recruited Min Chen to its China team.

He joins the UK firm from Dymon Asia where he was the portfolio manager of the Prospect View China fund. Chen has previously clocked up experience at RWC and Everest Partners.

He will be based Somerset’s Singapore office, according to fund global China. Chen is also said to be bringing the Prospect fund with him.

“The Prospect View China fund is an important step in the expansion of our Asia business with more China-focused funds expected to be launched in the years ahead,” said Timothy Hay, chief executive of Asia at Somerset Capital.

Copyright © 2020 AltAssets

Source: https://www.altassets.net/private-equity-news/by-news-type/people-news/somerset-expands-china-team.html

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