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iAngels Israeli Deal Digest – March 2019

Welcome to the iAngels Monthly Deal Digest, a summary of movements in the Israeli startup market. This March we tracked 28 announced deals totaling $483M, and 7 exits totaling $7.8B. Semiconductors and Enterprise Software were the leading sectors this month. Innoviz, a leading manufacturer of high-performance, solid-state LiDAR sensors and perception software that enable the […]

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

This March we tracked 28 announced deals totaling $483M, and 7 exits totaling $7.8B.

Semiconductors and Enterprise Software were the leading sectors this month. Innoviz, a leading manufacturer of high-performance, solid-state LiDAR sensors and perception software that enable the mass-production of autonomous vehicles, raised $132M in a Series C financing round with the participation of 360 Capital Partners, Shenzhen Capital Group, Softbank Ventures Asia, Vertex together with Corporate VC, and Samsung Catalyst Fund among others. LightBits Labs, a company that is reinventing the way storage and networking are conducted in cloud data centers, received $50M in a Series A financing round led by a Corporate VC, Dell Technologies, with the participation of Cisco Investments, Micron Ventures, Square Peg, and Walden International.

On the M&A side, we saw three large acquisitions including Mellanox, Dynamic Yield and OrthoSpace. Mellanox, a leading semiconductor supplier of end-to-end InfiniBand and Ethernet interconnect solutions and services for servers and storage, was acquired by NVIDIA for $6.9B. Dynamic Yield, a leading provider of automated conversion optimization tools for marketers and retailers, was acquired by McDonald’s for $300M. OrthoSpace, a company that develops and commercializes simple-to-implant, biodegradable balloon systems for the orthopedic market, was acquired by Stryker for $220M.

March 2019 Investment Highlights

Seed Rounds

  • Sub Strata Technologies, the developer of an AI-powered NLP (Natural Language Processing) engine that analyses subtext in written communication, received $0.12 million from private investors.

A Rounds

  • Escala Medical, a startup that is developing a repair device for the treatment of pelvic organ prolapse (POP), based on a nonsurgical, incision-free, mesh-free repair approach, has raised $0.55 million in a Series A financing round from private investors via Equity Crowdfunding Platform, ExitValley.
  • Market Beyond, a company that provides Fortune 500 brands and online retailers with actionable insights, optimizing e-commerce inefficiencies at the product level, via Machine Learning and AI, has raised $4 million in a Series A financing round co-led by Digital Horizon, Hetz Ventures and Viola Ventures along with private investors.
  • TailorMed, providing technology to improve the financial performance of healthcare providers and reduce the financial hardship for patients with a financial consultation, has raised $6 million in a Series A financing round led by Triventures with the participation of several private investors.
  • Brodmann17, a high-tech company that provides a vision-first technology for automated driving, received $11 million in a Series A financing round led by OurCrowd with the participation of AI Alliance, lool, Maniv Mobility Fund, and Corporate VC such as Sony Innovation Fund and UL Ventures.
  • LightBits Labs, a company that developed a solution to provide a hyperscale storage experience to private clouds, has closed $50 million in a Series A financing round led by a Corporate VC, Dell Technologies, with the participation of Cisco Investments, Micron Ventures, Square Peg, and Walden International.
  • Ibex Medical Analytics, a company that is using AI and computer vision to develop a product suite to improve clinical decision-making and to streamline pathology laboratory workflows, has raised $11 million in a Series A financing round led by aMoon, with the participation of Dell Technologies, Kamet and private investors.
  • Tigapo, a platform that connects coin-operated machines to the cloud, collects and analyses data by developing IoT management and payment systems, has closed $1 million in a Series A financing round led by Chazen Capital Partners with the participation of Ido Agmon and private investors.
  • Cobwebs, a company that developed a search engine, leveraging AI and machine learning, that gathers both public and concealed information that has not been indexed or classified by Google, has completed a $10 million Series A funding round led by a hedge fund, Ibex Israel Fund in conjunction with private investors.
  • Sayata, a company that enables superior cyber risk mitigation with a scalable, deep-dive analysis in order to improve SMEs’ cyber posture, has raised $6.5 million in a Series A financing round from a holding company, RDC and private investors.
  • Perimeter81, a next-generation network security provider, driven by the mission to transform secure network access for the modern and distributed workforce, received $5 million in a Series A financing round from Spring Ventures and US private investors.
  • BioFishency, an agritech company, that developed a cost-effective, all-in-one water treatment system for land-based aquaculture, overcoming limited water availability and the build-up of toxic ammonia, has raised $2.4 million in a Series A financing round led by Aqua-Spark and the incubator, Trendlines Agtech.
  • Chatflow (Spike), a communication tech company that developed hop – an application that converts existing emails into a multimedia mobile messaging format like WhatsApp – has closed $5 million in a Series A financing round from Koa Labs, NFX, and Wix.

B Rounds

  • Iguazio, a data platform that digitally transforms businesses by analyzing data from a variety of sources to create actionable insights and artificial intelligence, has raised $7.5 million in a Series B round from the Corporate VC, Samsung Ventures.
  • Ossio, an orthopaedic medical device company whose mission is to replace metal implants as the standard of care in the 10B+ fixation market (e.g. screws, pins, plates) with an intelligent bone regeneration technology, has completed a $22 million Series B funding round led by OCV with the participation of Ortho Vision, OurCrowd and Secocha Ventures.
  • Cymulate, a cyber-attack simulation company that delivers easy-to-use, comprehensive security solutions to safeguard business-critical digital assets, has closed a $7.5 million Series B round co-led by Dell Technologies and Susquehanna with the participation of Vertex and a private investor.
  • Hibob, a software company that provides companies with an HR management platform that helps to bring about the best in their employees, by using a cloud-based software as a central hub for all information the teams are passionate about, has raised $20 million led by Eight Roads with the participation of Arbor Ventures, Battery Ventures, Bessemer, Cerca Fund, Entrée Capital Israel, LocalGlobe, Presidio Ventures, Sumitomo Mitsui Banking Corp and private investors.
  • Theranica, a medical device company that has combined neuromodulation therapy with modern wireless technology to develop proprietary wearable solutions that address various medical conditions and disease states (for instance, Nerivio Migra is an electronic device for acute treatment of migraines), has completed a $35 million Series B financing round with the participation of aMoon, Corundum Fund, Lightspeed, LionBird, Takoa Invest, Viola Credit and private investors.
  • Rewire, a fintech company that is building an innovative international borderless banking platform for migrants during their time abroad until their return home to a more secure future, has closed a $12 million financing round led by the Corporate VC, Opera Tech Ventures with the participation of Marker, Moneta Seeds Fund, OurCrowd, SBSA, and private investors.
  • CB4, an AI and machine learning company that provides powerful and precise predictive analytics solutions in a simple and straightforward manner, going from data to predictions, recommendations and insights that can be understood and acted upon by the decision makers, received $16 million in a Series B funding round led by Octopus Ventures with the participation of Pereg Ventures, Sequoia Israel and a private investor.

Growth/Miscellaneous Rounds

  • Rail Vision, a hardware company that focuses on train safety/ security/ maintenance and accident prevention on the rail track with a technology based on infra-red forward-looking cameras and analyses capabilities, received $10 million in a Series C financing round led by Knorr-Bremse AG along with other corporations such as Allied Holdings, Foresight Autonomous, Lubinski Group, and a PE fund, Shrem Zilberman Group, and private investors.
  • Honey Book, an event-planning company with a collaborative platform that provides an invite-only service that empowers top event professionals to be more connected, productive, and successful with their clients and vendors, completed a $28 million growth round with the participation of Aleph LP, Gould Ventures, Hillsven, K5 Ventures, Maiden Lane, Nautilus Ventures, NVP, Tank Hill Ventures, TriplePoint Ventures, Vintage Investment Partners, a Corporate VC, Citi Ventures, and private investors.
  • Guesty, a cloud-based platform designed to simplify property managers’ operations for short-term rentals and management of listings from multiple Airbnb accounts and other booking channels, has received $35 million in a Series C funding round with the participation of 8capita, AltalR Capital, Amino Capital, Buran VC, Journey Ventures, Kingfisher, La Maison, Magma, TLV Partners, Vertex, Viola Growth and several private investors.
  • CyberX, a company that provides a widely-deployed holistic platform for continuously reducing IoT and ICS (Internal Control System) risk by continuously monitoring industrial networks for targeted attacks, malware, insider threats, and critical vulnerabilities, has closed a $18 million Series C funding round co-led by Inven Capital and Qualcomm Ventures with the participation of ff Venture Capital, Flint Capital, GlenRock, Glilot Capital, NVP, OurCrowd, and Swarth Group.
  • Innoviz, a leading manufacturer of high-performance, solid-state LiDAR sensors and perception software that enable the mass-production of autonomous vehicles, has closed a $132 million Series C funding round with the participation of 360 Capital Partners, Amiti Fund, Cerca Fund, Glory Ventures, Magma, New Alliance Capital, OurCrowd, Shenzhen Capital Group, Softbank Ventures Asia, Vertex along with Corporate VC and corporations such as Aptiv, Champion Motors, China Merchants Group, Harel Insurance Company, HiRain, Naver, Phoenix Insurance Co., Samsung Catalyst Fund, and an Israeli private investor, Zohar Zisapel.
  • Enlivex, a clinical-stage immunotherapy company that develops an autologous and allogeneic drug pipeline for immune system rebalancing, received $5.4 million from Korea Investment Partners, a holding company, HBL, and a private investor.
  • Applicaster, a cloud-based platform for app development and content distribution, providing the tools and insights needed to own and engage audiences across all platforms and devices, completed a $20 million growth round led by Viola Growth with the participation of 83North, C4 Ventures, Greylock Israel, La Maison, Pitango, Planven Investments, and Saban Ventures Fund.
  • Therapix, a specialty clinical-stage pharmaceutical company that focuses on creating and enhancing a portfolio of technologies and assets based on cannabinoid pharmaceuticals, completed a $2.25 million round from an undisclosed investment management company.

M&A and IPOs

  • IDE, a world leader in water treatment solutions, specialized in the development, engineering, construction and operation of enhanced desalination and industrial water treatment plants, was acquired by Alpha Partners for $146 million.
  • Telit Automotive, a global leader in IoT enablement with hardware, connectivity, and platforms that transform businesses through the power of IoT, was acquired by TUS International for $105 million.
  • Mellanox, a leading supplier of end-to-end InfiniBand and Ethernet interconnect solutions and services for servers and storage that increases data center efficiency by providing the highest throughput and lowest latency, acquired by NVIDIA for $6.9 billion.
  • Pointer Telocation, a company that is engaged in Mobile Resource Management (MRM) including a range of services, like Stolen Vehicle Retrieval (SVR), Fleet Management, Asset Management and Road Side Assistance (RSA), was acquired by ID Systems for $140 million.
  • Ortho Space, a company that develops and commercializes simple-to-implant, biodegradable balloon systems for the orthopedic market, emulating the function of original bursa, alleviating pain and shortening rehabilitation periods, was acquired by Stryker for $220 million.
  • Dynamic Yield, a leading provider of automated conversion optimization tools for marketers and retailers, with a proprietary platform that delivers the right promotions, content and calls-to-action to every visitor in real-time, was acquired by McDonald’s for $300 million.
  • Firmo, a startup that is building a sidechain for executing formally verified financial instruments across blockchains, was acquired by eToro for an undisclosed amount.

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/2019/04/iangels-israeli-deal-digest-march-2019-2-2/

Private Equity

20VC: Sequoia’s Roelof Botha on His Biggest Lessons Working Alongside Don Valentine, Mike Moritz and Doug Leone, Leading Sequoia’s US Business and What Sequoia Do To Retain Their Edge at the Top & The Crucible Moments That Define Startup Success

Roleof Botha is a Partner @ Sequoia Capital, one of the world’s leading venture firms with a portfolio including the likes of Airbnb, Instacart, Stripe, UiPath, Zoom, the list goes on. As for Roelof, at Sequoia he has led rounds into the likes of YouTube, Instagram, Eventbrite, Square, MongoDB, 23andMe and Unity Technologies to name a few. Before joining the

The post 20VC: Sequoia’s Roelof Botha on His Biggest Lessons Working Alongside Don Valentine, Mike Moritz and Doug Leone, Leading Sequoia’s US Business and What Sequoia Do To Retain Their Edge at the Top & The Crucible Moments That Define Startup Success appeared first on The Twenty Minute VC.

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Roleof Botha is a Partner @ Sequoia Capital, one of the world’s leading venture firms with a portfolio including the likes of Airbnb, Instacart, Stripe, UiPath, Zoom, the list goes on. As for Roelof, at Sequoia he has led rounds into the likes of YouTube, Instagram, Eventbrite, Square, MongoDB, 23andMe and Unity Technologies to name a few. Before joining the world of venture, Roelof was the CFO @ Paypal playing a key role in their hyper-growth from 2000-2003.

CLICK TO LISTEN ON ITUNES

In Today’s Episode You Will Learn:

1.) How did Roelof go from actuary in South Africa to CFO @ Paypal? What were his biggest lessons from seeing Paypal burn $10M per month? How did Paypal lead to his joining Sequoia as a Partner?

2.) Market Evaluation: Does Roelof agree that the market is crazy today? How does today compare to prior vintages? How does Roelof assess the compression of fundraising timelines? With compressed timelines, how does he build relationships of trust with founders?

3.) Founder Evaluation: What were Roelof’s lessons on founder assessment from Don Valentine? What matrix did Don teach Roelof to assess founders on? How does Roelof feel about the rise of competitive rounds? When should founders take them vs remain heads down on execution?

4.) Investment Mentality: How did Roelof prevent becoming too confident when early investments went well? How does Roelof prevent relying on past failures as a reason for turning down opportunities today? What can investors do to retain a very flexible mind? Why does Roelof believe you are only as good as your next investment?

5.) Sequoia’s Edge: How does Roloef think about what it takes for Sequoia to retain it’s edge at the top? How does Roloef measure the success of the Sequoia scout program? How did they structure it? How has the structure changed? What do they plan to do moving forward?

6.) Board Membership: How would Roloef evaluate his current style of board membership? How has that style changed over time? What elements did he find challenging? What advice would Roelof give to new board members adopting their first board seats?

Items Mentioned In Today’s Show:

Roelof’s Favourite Book: Man’s Search For Meaning

Roelof’s Most Recent Investment: mmhmm

As always you can follow Harry and The Twenty Minute VC on Twitter here!

Likewise, you can follow Harry on Instagram here for mojito madness and all things 20VC.

Source: https://thetwentyminutevc.com/roelofbotha/

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Private Equity

Private equity investor Centerbridge Partners backs Syncapay’s acquisition of Wirecard North America

From: FinTech Global Syncapay has announced that it has bought Wirecard North America, marking another page in the story of the collapse of the scandal-ridden former FinTech giant. Wirecard imploded this summer after a suspected multi-billion dollar fraud was unearthed. Since then the company, which was once hailed as one of Germany’s biggest FinTech success […]

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From: FinTech Global
Syncapay has announced that it has bought Wirecard North America, marking another page in the story

Source: https://www.altassets.net/private-equity-news/by-news-type/deal-news/private-equity-investor-centerbridge-partners-backs-syncapays-acquisition-of-wirecard-north-america.html

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Private Equity

Gulf Capital backs CWB as part of $60mln IP platform build

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The post Gulf Capital backs CWB as part of mln IP platform build first appeared on https://africacapitaldigest.com.

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Source: https://africacapitaldigest.com/gulf-capital-backs-cwb-as-part-of-60mln-ip-platform-build/

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