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iAngels Israeli Deal Digest – November 2018

Welcome to the iAngels Monthly Deal Digest, a summary of movements in the Israeli startup market. This November we tracked 36 announced deals totaling $875 million, and 4 acquisitions totaling $200 million. IT & Enterprise Software was the leading sector for this month with TripActions raising $154m in a third round,  Habana Labs a company that is developing processors optimized […]

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

This November we tracked 36 announced deals totaling $875 million, and 4 acquisitions totaling $200 million. IT & Enterprise Software was the leading sector for this month with TripActions raising $154m in a third round,  Habana Labs a company that is developing processors optimized for artificial intelligence applications raising $75m, SAManage and SysAid, both companies raised $30m in a growth round. Another sector that we should highlight is semiconductors and autonomous cars. Valens, a company developing technology for vehicle connectivity raised $63m, and Adasky, a startup developing high-resolution thermal sensors for autonomous cars raised $20 million.

Read on for the full scoop!

November 2018 Investment Highlights

Series Seed Rounds

  • Aquant, a startup that develops and markets machine learning software that mines historical data for insights that can shorten machinery downtime, has raised a $10 million seed round, led by Lightspeed Venture with the participation of New York-based World Trade Ventures and SilverTech Ventures.
  • Quantum Machines, a software developer that has the potential to reduce computing time for complex problems, has raised $5.5 million in a seed round led by TLV Partners, Battery Ventures LP also participated.
  • Portshift, a new identity-based cloud security startup, has raised $5.3 million in seed investment from the Israeli cybersecurity foundry Team8 LLC.
  • Darillium, a company that develops cloud platforms designed to optimize workload deployment, has raised a $2 million seed round led by Hanaco Ventures with the participation of JANVEST Capital Partners.

Series A Rounds

  • Securitize, A startup that offers a platform for managing blockchain-based digital securities has raised $12.75 million in a series A funding round led by Blockchain Capital.
  • KidneyCure, a biotech startup developing cell-therapy technology for treating advanced chronic kidney disease, has raised a $4 million round, led by Aurum Ventures. 
  • SAM, a software company that protects home networks and the devices connected to them, has raised $12 million in a series A round led by Intel Capital, with the participation of Blumberg Capital.
  • OzCode, a startup that develops a debugging and code analysis platform that works on the Microsoft Azure cloud environment, has completed a $3.5 million funding round led by Rafael Advanced Defense System Venture Capital Arm with the participation of TPY Capital fund.
  • Duality, an encrypted data collaboration startup, raised $4 million in funding led by cyber think tank Team8.
  • Lumi, a lending.. raised a 6.5$ million round led by the Josh Liberman Investment Group.
  • Alcide, a cloud-native security leader that empowers DevOps and security teams to manage applications, has closed a $7 million series A round led by CE Ventures, with the participation of existing investors Intel Capital and Elron Electronic Industries Ltd.
  • Cognigo, a company that develops an artificial intelligence-based platform that helps organizations manage and protect critical data and achieve compliance with privacy regulations, has raised $8.5 million in series A round led by OurCrowd, with the participation of Prosegur Compañia de Seguridad SA and Mind Ventures.

Series B Rounds

  • Taranis, a company that uses deep-learning technology and agronomic understanding to offer insights that create a more sustainable farming ecosystem, has closed a $20 million Series B round, led by Viola Ventures, with the participation of Finistere Ventures, Vertex Ventures, and OurCrowd.
  • Lightricks, a company that develops powerful tools to reinvent the way content is created, has secured $60 million in a funding round led by Insight Venture Partners with the participation from Claltech.
  • Habana Labs, a company that is developing processors optimized for artificial intelligence applications, has closed a $75 million funding round led by Intel Capital, with the participation of WRV Capital, Battery Ventures and Bessemer Venture Partners.
  • Adasky, a startup that develops a high-resolution thermal sensor for autonomous vehicles, has raised $20 million from a Korean-listed car parts manufacturer Sungwoo.
  • XM Cyber, a company founded by former Mossad head that develops a fully automated advanced persistent threat simulation platform, has closed a $22 million round led by Macquarie Capital and Nasdaq Ventures.
  • Guardian Optical Technologies, a company that provides 2D, 3D, and motion analysis in the vehicle to protect drivers and passengers, has raised $2.5 million from Union Ventures and B&E Equities.
  • Overwolf, a company that developed a platform that enables third-party developers to create modifications to existing PC games, which are then available through Overwolf’s app store, has raised $16 million in a funding round led by Intel Capital.
  • ConTIPI Medical has developed non-surgical and disposable vaginal solutions for women with Pelvic Floor Disorders, has completed a $3 million round led by existing investors, Capital Point and New Pharm.
  • Fraugster, a startup that uses artificial intelligence to prevent fraud for online retailers, has raised $14 million in a series B funding, led by CommerzVentures.
  • Raycatch, a startup developing artificial intelligence-based diagnostics and optimization software for the solar energy market, has raised $4.5 million round, led by Koninklijke DSM N.V.
  • Sharegain, a startup that offers a marketplace where the holders of stocks and other securities can loan their assets to investors, has raised $5 million led by Blumberg Capital, with the participation of Target Global and Rhodium.
  • CreditPlace, a peer-to-peer debt trading startup that developed a digital platform to facilitate transparent debt trading, has raised $8 million in a funding round led by OM2 Ventures.
  • OpenLegacy, a startup that delivers fast, powerful and flexible digital services from virtually any legacy backed-end or proprietary application that allows organizations to connect up easily with digital apps, has closed a $30 million financing round led by Silverhorn Investment Advisors with the participation of CommerzVentures.

Growth/Miscellaneous Rounds

  • Valens, a company that is developing HDBaseT technology for the audiovisual and automotive markets and chipsets that simplify in-vehicle connectivity, has raised $63 million from Linse Capital and Oppenheimer Asset Management.
  • SysAid, a company that develops an IT service for management software that integrates multiple help desk tools, has closed a $30 million round, led by Israel Growth Partners Ltd.
  • Medi-Tate, a medical devices company that has developed a product for the treatment of benign prostate tumors, has raised $20 million from Japanese medical devices company Olympus.
  • Votiro, a company developing enterprise software that automatically scans and cleans each file sent or shared via email, and content collaboration platforms and USB drives, has closed an $8 million round led by Senetas Corporation.
  • Nyxoah, a startup that developed a medical device for the treatment of Obstructive Sleep Apnea, a sleep disorder characterized by repeated shallow or paused breathing during sleep, has raised $15 million in a funding round led by Cochlear Ltd.
  • Samanage, a cloud-based company that provides computing services to corporate IT departments, has completed a $30 million Series D funding round, led by Morgan Stanley Expansion Capital with the participation of Viola Ventures, Vintage Investment Partners and Gemini Israel Ventures.
  • PolyPid, a company that develops encapsulating drug delivery technology that enables extended and localized release in the body, has raised $15 million led by Xenia Venture Capital Ltd.
  • Mapi Pharma, a company that focuses on developing more efficient versions of existing successful drugs, has raised $10 million from China’s Jingxin Pharm.
  • Hippo, a company that analyzes data from municipal buildings records, satellite imagery, and smart home devices to enable customers to get a quote and qualify for coverage, has raised a $70 million series C round, led by Felicis Ventures.
  • Velox, a company that develops and manufactures industrial-grade direct-to-shape digital decoration products for rigid containers, has raised $32 million round led by JAL Ventures.
  • TripActions, a company that provides corporate travel platform that integrates with company HR and expense system, has raised $154 million round with a valuation of more than $1 billion, the round was led by Andreessen Horowitz.

M&A and IPOs

  • Nutrino, a company that uses existing databases and research to create personalized nutrition recommendations, was acquired by Medtronic, one of the world’s largest medical device companies, for an estimated amount of $100 million.
  • Amimon, a company that develops chipsets and modules for real-time wireless video transmission, was acquired by Vitec Group, a manufacturer of camera supports, for a reported amount of $55 million.
  • Javelin Networks, an Ai and cyber security software development organization, was acquired by Symantec, a global leader company that provides cybersecurity software and services, member of the S&P 500, for an estimated amount of $25 million.
  • NooBaa, a software-driven company that enables agility, flexibility and hybrid cloud capabilities, was acquired by RedHat, a company that was acquired by IBM for $34 billion, for an estimated amount of $20 million.

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,
Rona

Rona Galezer 
Rona is a Principal in the iAngels investment team and brings more than 10 years experience in investments and financial consulting from both the private and public sectors. Rona is passionate about technology and innovation, meeting with the greatest minds and ideas of talented entrepreneurs looking to make an impact. At iAngels, Rona focuses on seed and series A investments and has built special expertise around Frontier Technologies, Automotive and UAVs, Agro and FoodTech and is a big follower of trends in AI and computer vision. 

Source: https://www.iangels.com/2018/12/iangels-israeli-deal-digest-november-2018-2/

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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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