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iAngels Israeli Deal Digest – May 2020

Welcome to the iAngels Monthly Deal Digest, a summary of corporate developments in the Israeli startup market.  This May we tracked 28 announced deals totaling at approximately $582.5 Million, and 3 exits of $1.085 Billion.  IT & Enterprise Software and Miscellaneous Semiconductors were the two top performing sectors this month.  Verint, a company that provides […]

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

This May we tracked 28 announced deals totaling at approximately $582.5 Million, and 3 exits of $1.085 Billion

IT & Enterprise Software and Miscellaneous Semiconductors were the two top performing sectors this month.  Verint, a company that provides end-to-end programs and consulting services to deliver actionable intelligence for customer engagement optimization; security intelligence; and fraud, risk, and compliance, received $200 Million from Apax Partners. Xsight Labs, a company that developed chipset semiconductors designed to accelerate data-intensive workloads, collected $55 Million in a series B financing round from A&E Investments, Atreides Management, Battery Ventures, Inphi, Intel Capital, M12, Valor Equity Partners, Xilinx Ventures and Private Investors. 

On the M&A side, we tracked one large acquisition in the sector of Communications. Moovit, a free local transit planner, featuring live arrival & departure times, updated line schedules, local station maps, and service alerts, was acquired by Intel for $1 Billion. We also tracked one IPO in the field of Life Sciences. Ayala Pharmaceuticals, a clinical-stage precision oncology company dedicated to developing and commercializing potential small molecule therapeutics for patients suffering from rare and aggressive cancers, collected $55 Million in its Initial Public Offering on the NASDAQ Global Market.

May 2020 Investment Highlights

Seed Rounds

  • BeeHero, an iAngels portfolio company that helps farmers increase their crop yield by maximizing crop pollination, closed $4 Million in a seed round from iAngels, Direct Round, J-Ventures, Plug & Play, Rabo Food & Agri Innovation Fund and UpWest.

A Rounds 

  • Orca Security, a company that developed a cloud information security solution capable of detecting vulnerabilities, malware, configuration errors, and sensitive insecure information, collected $20 Million in a series A financing round led by GGV Capital with participation from Hyperwise Ventures, StoneMill Ventures, SVCI, YL Ventures and Private Investors.
  • Deel, a company that simplifies compliance and payments at scale for companies hiring contractors globally, including onboarding, localized contracts, rights of work document requests, and tax form and invoice generation, received $14 Million in a series A financing round led by Andreessen Horowitz with participation from AltaIR Capital, La Famiglia, Recursive Ventures, Sarona Ventures, Soma Capital, Weekend Fund and Private Investors. 
  • D-ID, a company that allows organizations to enhance security and ensure their customers’ and employees’ privacy by removing sensitive biometric Personally Identifiable Information from videos and still images, closed $13.5 Million in a series A financing round led by AXA Venture Partners with participation from AI Alliance, Hyundai CRADLE, Maverick Ventures Israel, Mindset Ventures, Omron Ventures and Pitango.  
  • AccessiBe, a company that developed a web accessibility platform intended to make digital space fully accessible to people with disabilities, raised $12 Million in a series A financing round led by K1 with participation from Glilot Capital and Private Investors. 
  • Source Defense, a company that provides real time threat protection against vulnerabilities originating in third-party scripts such as Magecart & Formjacking attacks, collected $10.5 Million in a series A financing round led by Capital One Growth Ventures with participation from AllegisCyber, Connecticut Innovations, Global Brain, JVP and NightDragon Security.
  • GreenEye, a company that focuses on precision agriculture aiming to dramatically reduce chemical usage while increasing productivity and profitability for farmers, received $7 Million in a series A financing round led by JVP with participation from 2B Angels, Hike Ventures, Hyperplane Venture Capital, One Way Ventures, Panache Ventures and Syngenta Ventures.
  • NewSight, a company that manufactures advanced CMOS (Complementary Metal Oxide Semiconductor) image sensor chips created for short-range LiDAR applications, closed $7 Million in a series A financing round led by Infinity I-China with participation from EnnoVenture, Infore, Likai Li, Wadi Ventures Fund, Undisclosed Chinese Investors and Private Investors.
  • Alike, a company that uses artificial intelligence, crowdsourcing, and big data to empower patients by helping them monitor their own conditions, raised $5 Million in a series A financing round led by Pitango HealthTech with participation from private Investors.
  • HUB Security, a company that provides cyber-security solutions for large financial institutions and other banking, cloud, and blockchain enterprises, collected $5 Million in a series A financing round led by AXA Venture Partners with participation from OurCrowd. 
  • Nanofabrica, a company that combines patented hardware with proprietary materials to develop 3D-printing solutions, received $4 Million in a series A financing round led by M12 with participation from Alpha Venture Partners, F2 Venture Capital, i3 Equity Partners Fund, NextLeap Ventures and Private Investors. 
  • Fize Medical, a company that provides innovative solutions for the accurate, real-time monitoring of vital signs, closed $2 Million in a series A financing round from Mendham and Rapha Capital management.
  • Neema, a company that provides global financial services and specializes in providing digital wallet services and money transfers to populations that do not adequately respond to the existing financial system, such as foreign workers and others, raised $1.5 Million in a series A financing round from Discount Capital.

B Rounds 

  • Xsight Labs, a company that developed chipset semiconductors designed to accelerate data-intensive workloads, collected $55 Million in a series B financing round from A&E Investments, Atreides Management, Battery Ventures, Inphi, Intel Capital, M12, Valor Equity Partners, Xilinx Ventures and Private Investors. 
  • Semperis, a company that provides cyber preparedness, incident response and disaster recovery solutions for enterprise directory services, received $40 Million in a series B financing round led by Insight Partners with participation from Edgewater Equity, Maverick Ventures Israel, Mindset Ventures, WTV and Private Investors. 
  • Zeitgold, a company that aims to help small businesses reduce financial related paperwork by combining experts and artificial intelligence, closed $30 Million in a series B financing round led by Vintage with participation from AXA Venture Partners, Battery Ventures, Btov Partners, DTCP Fund, HV Holtzbrinck Ventures, Saban Ventures Fund and Private Investors.  
  • RapidAPI, a company that allows developers to easily discover and connect to the world’s top APIs and manage multiple API connections in one place, raised $25 Million in a series B financing round from 500 Startups, Andreessen Horowitz, DNS Capital, FundersClub, Green Bay Ventures, Grove Ventures, M12, SV Angel and Private Investors. 
  • CyberBit, a company that offers cyber security solutions for sensitive and valuable systems in government, military, enterprise, academia, and other fields, received a $70 Million investment from Charslesbank Technology Opportunities Fund, where $48 Million was paid for existing shareholders in the company while the remaining $22 Million was collected by CyberBit in a series B financing round led by Charlesbank Technology Opportunities Fund with participation from Claridge Israel.  
  • IRP Systems, a company that specializes in high-performance electric powertrain systems for a variety of e-mobility platforms, enabling powerful and affordable electric vehicles, received $17 Million in a series B financing round led by Fosun RZ Capital with participation from Cendana Capital, Champion Motors, Entrée Capital Israel, JAL Ventures, Tal Capital, Union Tech Ventures and a Private Investor.  
  • Saturas, a company that developed a tiny sensor for measuring the water potential in the breed, which can help optimize the use of irrigation water and obtain a quality crop in orchards and vineyards, closed $3 Million in a series B financing round from Amir Marketing and Investments, Gefen Capital Fund, Hubei Forbon, Israel Farmers’ Union, Miguel Torres Winery SA Trendlines Agrifood and a Private Investor.

C Rounds 

  • Nanit, a company that developed computer vision and machine learning algorithms to monitor and understand babies’ behavior patterns, received $21 Million in a series C financing round co-led by JVP, Rho, RRE and Upfront Ventures with participation from 645 Ventures, AME Cloud Ventures, Flex, Jacobs Technion-Cornell Institute, Story Ventures, Vaal Investment Partners, Vulcan Capital, Wareness and a Private Investor.  
  • FundBox, a company that offers small-business owners a simple way to solve their cash flow issues by instantly clearing outstanding invoices, raised $20 Million in a series C financing round from MUFG Innovation Partners.
  • LawGeex, a company that uses artificial intelligence to automate contract analysis and testing and provides transaction acceleration solutions alongside contract protection, collected $20 Million in a series C financing round from Aleph, Corner Ventures, La Maison, LionBird, LooI, Moonbow, Power Capital, RSP Fund and a Private Investor. 

Growth/Miscellaneous Rounds 

  • Verint, a company that provides end-to-end programs and consulting services to deliver actionable intelligence for customer engagement optimization; security intelligence; and fraud, risk, and compliance, received $200 Million from Apax Partners. 
  • Pluristem, a clinical-stage biotherapy company using placental cells and a unique, proprietary 3D technology platform to develop cell therapies for conditions such as inflammation, ischemia, muscle injuries, hematological disorders and exposure to radiation, closed $15 Million from undisclosed institutional investors.
  • Regulus Cyber, a company that offers sensor security, enabling uninterrupted, continuous operation under malicious attacks or accidental interference to sensors, collected $4 Million in a bridge financing round led by SPDG Ventures with participation from Btov Partners, Canaan Israel, F2 Venture Capital, Sierra Ventures, T3-Technion Technology Transfer, Technion DRIVE and Private Investors.
  • Check-Cap, a clinical stage medical diagnostics company focused on the development of innovative imaging devices, received $3 Million from undisclosed institutional investors. 
  • ScoutCam, a company that specializes in developing minimally invasive endosurgical tools and imaging solutions, raised $2 Million from a Private Investor.

M&A and IPOs

  • Moovit, a free local transit planner, featuring live arrival & departure times, updated line schedules, local station maps, and service alerts, was acquired by Intel for $1 Billion.  
  • Ayala Pharmaceuticals, a clinical-stage precision oncology company dedicated to developing and commercializing potential small molecule therapeutics for patients suffering from rare and aggressive cancers, collected $55 Million in its Initial Public Offering on the NASDAQ Global Market.
  • Surf, a company that develops and markets high-density multimedia processing technologies in a wide variety of formats for telecommunication infrastructures, military deployments, and CTI applications, was acquired by Lytx with regard to the video division for $30 Million.

On behalf of everyone at iAngels, we would 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,

The iAngels Team

Source: https://www.iangels.com/2020/06/iangels-israeli-deal-digest-may-2020-2/

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” The Leapfunder Note is a sensible and attractive way to place capital in start-ups in the Netherlands “

” Diversification is important in angel investing. Leapfunder is a platform that allows angels to spread their investments. “

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” When I saw the Leapfunder proposition I thought straight-away: this is what start-ups need. I am an entrepreneur and wish this system had been available when I started my company. “

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Source: https://www.leapfunder.com/companies/237

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iCapital Network celebrates reaching milestones in its European and Asian expansion efforts

From: FinTech Global Alternative investment FinTech iCapital Network is celebrating reaching a series of milestones in its expansion into the European and Asian markets. The WealthTech platform is created to drive access and efficiency in alternative investing for the asset and wealth management industries. The growth across the European and Asian markets comes hot on […]

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From: FinTech Global
Alternative investment FinTech iCapital Network is celebrating reaching a series of milestones in i

Source: https://www.altassets.net/private-equity-news/by-news-type/people-news/icapital-network-celebrates-reaching-milestones-in-its-european-and-asian-expansion-efforts.html

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Medtech venture investment continues climb globally

Investors pumped $5.05bn into start-ups in growing fields such as surgical robotics, telehealth and cancer blood testing in the third quarter

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Global venture capital funding of medical technology continued its climb last quarter, with investors pumping $5.05bn into start-ups in growing fields such as surgical robotics, telehealth and cancer blood testing, industry data show.

Third-quarter venture investment rose about 4.7% from the $4.83bn that medtech start-ups raised in the second quarter, and by more than 63% from the $3.09bn they secured in the third quarter of 2019, according to data from market tracker CB Insights.

Venture funding jumped despite the novel coronavirus pandemic, which forced hospitals to postpone elective surgeries and hamstrung some companies that had been seeking to launch their products.

Yet many companies raising venture capital this year are still developing their technology and haven’t been affected by the slowdown, said CB analyst Marissa Schlueter.

Investors also haven’t let the pandemic dissuade them from betting on the potential of robotics to improve surgery and on new blood tests that could enable earlier cancer detection. In August, for example, San Francisco-based Freenome Holdings collected $270m to pursue regulatory approval for a blood test to detect colorectal cancer and Massachusetts-based Vicarious Surgical, which applies virtual reality and robotics to minimally invasive surgery, took in $13.2m.

Some medtech start-ups have fielded rising interest in their technology during the pandemic, including telehealth companies and those with tests or devices that can combat the new virus.

This month, for example, telehealth concern 98point6, a provider of virtual primary care services based in Seattle, disclosed a $118m financing.
CB Insights considered a variety of medical technology companies in its analysis, including those seeking to diagnose, treat, monitor or prevent diseases.

A strengthening market for medtech initial public offerings and acquisitions also is encouraging venture investment. In the third quarter, 40 medtech companies were acquired and 14 went public, according to CB Insights. That is up from 37 acquisitions and 13 IPOs in the second quarter. In the third quarter of 2019, 28 companies were acquired and 15 went public.
Companies’ ability to raise venture capital enables them to remain private longer and put themselves in a stronger position for an IPO, said Tom Shehab, a managing partner with Arboretum Ventures.

California-based Eargo, which sells hearing aids that fit inside the ear, incorporated in 2010 and began operations in late 2012. On Friday, 16 October, the company, which has raised more than $206.6m in venture capital according to Crunchbase, went public at $18 a share. The stock leapt 87.1% to close at $33.68.

Eargo posted $28.6m in net revenue for the six months ended 30 June, nearly doubling the $14.4m in net revenue it reported for the same period of 2019, according to a regulatory filing.
In the company’s early days, relatively few venture firms focused on medtech, chief executive Christian Gormsen said. But in raising the company’s most recent venture round earlier this year, he spoke with about 100 investors, he said.

Eargo, which sells hearing aids directly to patients, fits a growing trend toward consumers playing a larger role in their healthcare, which also increased its appeal to investors, he said. “Medical technology as a category is getting more and more attention from venture capital,” Gormsen said.

From The Wall Street Journal

Source: https://www.penews.com/articles/medtech-venture-investment-continues-climb-globally-20201027

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