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iAngels Israeli Deal Digest – September 2019

Welcome to the iAngels Monthly Deal Digest, a summary of corporate developments in the Israeli startup market. This September we tracked 46 announced deals totaling to $890 Million, and 3 exits totaling to $270 Million.  IT & Enterprise Software was the leading sector this month. Fundbox, a company that leverages machine learning to assess the […]

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

This September we tracked 46 announced deals totaling to $890 Million, and 3 exits totaling to $270 Million

IT & Enterprise Software was the leading sector this month. Fundbox, a company that leverages machine learning to assess the creditworthiness of businesses, has raised $176 Million in a growth round from Allianz, Battery Ventures, Blumberg Capital, Cathay Innovation, Hanaco VC, Khosla Ventures, among many other investors. Snyk, a company providing developers with an open-source security solution, closed $70 Million led by Accel with the participation of Boldstart, Canaan Partners, Fundfire, GV and Heavybit.

On the M&A side, we saw two larger acquisitions – Cheetah Medical and EViation. Cheetah Medical, a company that provides solutions in non-invasive Cardiac Output and Hemodynamic monitoring, was acquired by Baxter Group for $190 Million. EViation, a company that develops drones for transportation (capable of carrying up to 9 people), was acquired by Clermont Group for $76 Million (Clermont acquired 70% of the company).

 September 2019 Investment Highlights

Seed Rounds

  • H2PRO is an iAngels portfolio company that developed a new technology to split water in unprecedented efficiency to produce green hydrogen at scale. H2PRO has received $3 Million in seed funding, led by Hyundai and with the participation of iAngels, Contrarian and Bessemer.
  • Cycode, a company that develops a source code control, detection and response platform, has raised $4.6 Million in seed funding led by YL Ventures and with the participation of private investors.
  • GK8, another iAngels portfolio company, is a cybersecurity company that develops a technology for sending secure transactions to a blockchain without the need of a network connection, designed to enhance digital asset security. GK8 has received $3.5 Million led by Marius Nacht with the participation of iAngels, Discount Capital and private investors.
  • Shapeshift, a company that develops a cross-platform gaming solution with the aim of transforming gaming and eSports viewership into a more interactive experience, has raised $2.5 Million led by North First Ventures and with the participation of Group Up Ventures and Slingshot Ventures, as well as a private investor.

A Rounds

  • Trigo Vision, a computer vision startup offering a retail automation platform to identify customers’ shopping items with the aim of creating a seamless checkout process, closed $22 Million in Series A funding led by Red Dot Capital Partners with the participation of Hetz Ventures, Tesco and Vertex.
  • Fyllo, a company that develops a cannabis marketing platform that should allow cannabis brands and online publishers to meet compliance requirements on a large scale, has raised $16 Million in a Series A financing round co-led by JW Asset Management and K2 & Associates with the participation of GrowGeneration and TerrAscend.
  • Explorium, a data science company helping businesses to reach better data to feed into their predictive models, closed $15.5 Million in Series A funding led by Zeev Ventures with the participation of F2 Capital and Emerge.
  • Securitize, a company offering a compliance platform and protocol for issuing and managing digital securities on blockchains, including dividends, distributions and share buy-backs, has received $14 Million in a Series A financing round from Coinbase Ventures, Fenbushi Capital, Blockchain Capital, Algo Capital, Kenetic Capital, Ripple, Santander Innoventures, SPiCE VC, Tezos Foundation, among others.
  • Vital Technologies, a company that develops and markets fast-acting, pharma-class recovery beverage products for consumers, has raised $8 Million from private investors.
  • Redefine Meat, the producer of animal-free meat using industrial 3D printers, closed $6 Million in Series A funding led by CPT Capital with the participation of Hanaco VC, PHW Group and private investors.
  • Okapi, a SaaS platform that leverages crowdsourced KPIs, business know-how and automation to deliver a business performance management solution, has received $5.5 Million in a Series A financing round led by Marius Nacht with the participation of other private individuals.
  • vHive, the developer of a cloud-based AI that should enable enterprises to deploy autonomous drone hives for the acquisition, management and processing of field data, has raised $5.5 Million in a Series A financing round led by Octopus Ventures with the participation of StageOne and private investors.
  • Kovrr, a company providing insurance carriers, reinsurers and government regulators with an end-to-end platform that delivers transparent, data-driven insights that enable them to quantify and manage their affirmative and silent cyber risk exposure across insurances, closed $5.5 Million in a Series A financing round co-led by StageOne and Alma Mundi Ventures with the participation of InsurTech Israel Fund, JVP, Banco Sabadell and private investors.
  • Tastewise, a company providing a platform that analyzes billions of food data points to provide insights for restaurants, hospitality groups and food brands, has received $5 Million in Series A financing from PeakBridge Partners.
  • SolCold, the developer of a nano-technological material that reportedly cools everything under the sun without any power consumption, closed $3.5 Million from Chartered HighTech.
  • UPnRIDE Robotics, a company with the mission to develop, produce and market innovative devices for disabled people, has raised $3.4 Million in Series A funding from ToGeTher, OurCrowd, Wolfpack Ventures and private investors.
  • Strigo, a cloud-based educational platform for educating both lecture-based and hands-on training, closed $2.5 Million in Series A funding led by Hanaco VC with the participation of Greycroft and private investors.
  • Innovesta Technologies, a company that provides a dashboard for aggregated data about private companies, has received $2.7 Million in Series A financing led by GHV with the participation of Bseed and private investors.
  • Moodify, a company that develops solutions and scents to increase well-being, has raised $1.6 Million led by Next Gear Fund, Toyota AI Ventures and private investors.
  • LeO, a conversational AI platform designed for the insurance industry, closed $1.6 Million from an angel group and private investors.
  • Allerguard, the developer of a detection system that scans an entire plate of food to identify an allergen, has raised $1.5m from CoShare and eHV.
  • Sanoculis, a company that develops an alternative new surgical technique for the treatment of Glaucoma, has received $1.1 Million from DNV Capital, BioLight, AMIT and private investors.

B Rounds

  • D-Fend, a company that provides its customers with an autonomous counter-drone perimeter security system, which automatically detects, identifies and intercepts drones, has raised $28 Million in Series B financing led by Claridge Israel with the participation of SBI and Vertex.
  • DustPhotonics, the developer and manufacturer of pluggable optical modules and solutions for data centers, enterprises and HPC applications, has received $25 Million in Series B financing led by Intel Capital with the participation of WRVI Capital and a private investor.
  • Vim is a healthcare company that aligns incentives between health plans and care providers and gives them access to the right data and technology to empower value-based care decisions. Vim closed $24 Million in Series B funding led by Optum Ventures with the participation of Sequoia, Premera and GreatPoint Ventures.
  • Syte, a company that develops image recognition software providing shopping suggestions, has raised $21.5 Million in Series B financing led by Viola with the participation of Commerce Ventures, Magma, Remagine Ventures Fund, LINE, KDC Media Fund, among several others.
  • Tulip Interfaces, the developer of a manufacturing app platform to bring the latest technological developments from the lab to the factory floor, has received $21.1 Million in Series B financing led by Vertex Ventures with the participation of Pitango, NEA, C4 Ventures and private investors.
  • Igentify, a company that develops a digital platform for genetic test providers, has raised $10.5 Million in Series B financing from OurCrowd and aMoon.
  • MetaFlow, the developer of products that are supposed to change the weight loss industry, using a technology that combines hardware, software and rich scientific basis, closed $8.5 Million in Series B financing led by NewH2, Gigi Levy-Weiss, Kaedan Capital, Unorthodox Ventures among other investors.

Growth/Miscellaneous Rounds

  • Fundbox, a company that leverages machine learning to assess the credit worthiness of businesses, has raised $176 Million in a growth round from Allianz, Battery Ventures, Blumberg Capital, Cathay Innovation, Hanaco VC, Khosla Ventures, among many other investors.
  • Snyk, a company providing developers with an open source security solution, closed $70 Million led by Accel with the participation of Boldstart, Canaan Partners, Fundfire, GV and Heavybit.
  • Healthy.io, the creator of a smartphone application of urine analysis, offering the only FDA and CE cleared home urine test equivalent to lab-based devices, has received $60 Million in a growth round led by Corner Ventures with the participation of Aleph, Ansonia Holdings, Joy Capital and Samsung Next.
  • Body Vision Medical, a software and medical device company specializing in augmented real-time fusion imaging, AI and intra-body navigation, has raised $20 Million from ADIP, GEOC and several private investors. 
  • T-REX Analytics, a company that offers a full investment life cycle solution, offering transparency, standardization, collaboration, efficiency and access to liquidity in energy project finance and asset-backed securitization, closed $15 Million from Citi Ventures, Clean Pacific Ventures, Ecosystem Ventures, Viola, Macquarie Capital among other institutional investors.
  • PerimeterX, a company that develops security solutions to prevent automated attacks by detecting malicious web behavior, has received $14 Million from DTCP and Salesforce Ventures.
  • Agromentum (Fieldin), the provider of a field intelligence platform helping growers to manage and optimize pesticide applications, harvest activities and other critical field operations, has raised $12 Million led by Zeev Ventures with the participation from Cavallo Ventures, Gal Ventures, Germin8 Ventures, GWC Innovator Fund, Mindset Ventures and Terra.
  • Fornova, a company helping hotels making intelligence-driven decisions to manage their distribution activity, closed $7 Million from Deutsche Telekom, JAL Ventures, UnVC, Waypoint Capital, among other institutional investors.
  • CDx, a company that develops a technology to discover a new class of diagnostics tests with high sensitivity and specificity for many cancers, has raised $3 Million from undisclosed investors.

M&A and IPOs

  • Cheetah Medical, a company that provides solutions in non-invasive Cardiac Output and Hemodynamic monitoring, was acquired by Baxter Group for $190 Million.
  • EViation, a company that develops drones for transportation (capable of carrying up to 9 people), was acquired by Clermont Group for $76 Million (Clermont acquired 70% of the company).
  • Action Item, a company that develops software for cash registers, was acquired by VeriFone Holdings for $4 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,
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/2019/11/iangels-israeli-deal-digest-september-2019-2/

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Alternative Investments: Accelerate’s Alt ETFs Now On RBC Dominion Securities A+ Platform

Accelerate Financial Technologies Inc announced this week that its alternative ETFs have been added to the RBC Dominion Securities A+ platform. RBC Dominion Securities describes the A+ as the next level of wealth management.

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Alternative Investments: Accelerate’s Alt ETFs Now On RBC Dominion Securities A+ Platform

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The A+ is for you if “you require serious investment management for your serious money.”

Accelerate Financial Technologies Inc announced this week that its alternative ETFs have been added to the RBC Dominion Securities A+ platform.

RBC Dominion Securities describes the A+ as the next level of wealth management.

For select clients with serious money, the platform provides greater convenience, customization, RBC’s Unified Managed Account technology, access to elite money managers worldwide, and tax efficiency.

Accelerate’s Alt ETFs on RBC A+

The range of alternative ETFs from Accelerate allows investors to diversify beyond stocks and bonds by including alternative asset classes in their portfolios.

The firm is known as a pioneer in institutional caliber alternative ETFs including hedge fund and private equity ETFs. It claims it is “disrupting the asset management industry by offering performance-oriented alternative investment strategies previously reserved for wealthy investors at a fee significantly lower than competitors.”

“We are pleased to be chosen by RBC Dominion Securities, a global leader in wealth management, as one of the select group of high-quality investment managers on the exclusive A+ platform for RBC Dominion Securities advisors and their clients,” said Accelerate CEO Julian Klymochko. “In an era of rock-bottom interest rates and record-high stock market volatility, we are pleased to provide investors with diversification, alternative yield, and alpha generation solutions through alternative investment strategies including absolute return, arbitrage, enhanced equity, and private equity replication.”

Selected ETFs

The alternative ETFs on the RBC Dominion Securities A+ platform include:

  • Accelerate Absolute Return Hedge Fund (TSX: HDGE) – a diversified, liquid, and performance-oriented long-short equity hedge fund
  • Accelerate Arbitrage Fund (TSX: ARB) – provides exposure to SPAC arbitrage and merger arbitrage investment strategies
  • Accelerate Enhanced Canadian Benchmark Alternative Fund (TSX: ATSX) – combines exposure to the S&P/TSX 60 plus a long-short Canadian equity overlay
  • Accelerate Private Equity Alpha Fund (TSX: ALFA) – designed to provide investors with private equity-like investment returns

Related Story:  Liquid Alt ETF Provider Accelerate Offers Ready-Made Alternative Investment Strategy                                                

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Source: https://dailyalts.com/accelerates-alt-etfs-now-on-rbc-dominion-securities-a-platform/

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Venture Capital: AgTech Startup Benson Hill Lands $150M

Benson Hill, an agtech startup based in St. Louis, announced Thursday its close of a $150 million Series D round led by Wheatsheaf and GV (formerly Google Ventures). It uses biotechnology and data science to enhance the nutritional qualities and sustainability of crops.

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Venture Capital: AgTech Startup Benson Hill Lands $150M

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Benson Hill uses biotechnology and data science to enhance the nutritional qualities and sustainability of crops.

Benson Hill, an agtech startup based in St. Louis, announced Thursday its close of a $150 million Series D round led by Wheatsheaf and GV (formerly Google Ventures).

The company said other strategic and ESG focused investors also participated. These included Argonautic Ventures, Caisse de dépôt et placement du Québec (CDPQ), Emart, GS Group, Louis Dreyfus Company, iSelect Fund, Fall Line Capital, Mercury Fund, Prelude Ventures, Prolog Ventures, S2G Ventures, and additional strategic and family office investors.  (FOOD navigator-USA.com)

Benson Hill technology

Benson Hill uses biotechnology, data science, and AI to enhance the nutritional qualities, flavor, and sustainability of crops and vegetables.

The firm’s “Cloud Biology” is the fusion of data, machine learning, and AI techniques with biology. Its “CropOS” is a proprietary platform that facilitates the accessibility and actionability of Cloud Biology.

The CropOs platform uses plant phenotyping, predictive breeding, and environmental modeling algorithms to better control the plant breeding process and realize these advantages:

  • Produces plants that are highly productive, highly nutritious, and better tasting
  • Better texture
  • Reduce the number of processing steps
  • Reduce the need for additives
  • Grow plants that “do more with less,” thus boosting sustainability

The company’s work so far has been concentrated around soybeans.

Its new, ultra-high-protein (UHP) soy products spiked the interest of investors. They come from a highly productive non-GMO soybean that is rich in oleic oil content.

Use of funds

Benson Hill plans the commercial launch of the first Ultra-High Protein soybean varieties in 2021, among other product launches.

It also plans to expand its team by adding top talent and continue the development of Cloud Biology and CropOS.

“As a society, we’re at a crossroads made more evident as the pandemic has revealed strengths and vulnerabilities in our food system,” said Matt Crisp, Benson Hill CEO. “Food choices that create enjoyment, make us stronger, and help preserve our environment need to be accessible to everyone, and the power of plant diversity and technology innovation can help fuel that evolution.

Related Story:   Smart Farm Technology To Take The Drudge Out of Plant Breeding

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Source: https://dailyalts.com/agtech-startup-benson-hill-lands-150m/

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FinTech: Alliance Data Buys BNPL Fintech Bread For $450M

Alliance Data Systems (NYSE: ADS) said Thursday that it will acquire Bread and its digital platform for $450 million of which $100 will be paid through Alliance stock. The transaction would expand Alliance Data’s own digital offerings by including buy-now-pay-later (BNPL) products.

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FinTech: Alliance Data Buys BNPL Fintech Bread For $450M

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Alliance Data will pay in cash and stock for the acquisition.

Alliance Data Systems (NYSE: ADS) said Thursday that it will acquire Bread and its digital buy-now-pay-later (BNPL) platform for $450 million of which $100 will be paid through Alliance stock.

The transaction would expand Alliance Data’s own digital offerings by including BNPL products. BNPL is a major trend now that consumers have embraced the interest-free, zero-fee facility to pay in installments. Alliance is a provider of data-driven marketing, loyalty, and payment solutions. (Alliance)

Digital BNPL is particularly popular with millennials and the younger set. They prefer not to run up credit card debt and like the speed and convenience. The technology and products acquired from Bread will address this segment of the population.

Bread already has tie-ups with merchants such as online jewelry seller Noémie, the luxury watch seller Hublot and Newton Baby, the crib mattress provider.

BNPL customer experience

“Bread’s flexible, easily-integrated payment solutions, coupled with Alliance Data’s Enhanced Digital Suite, will improve the digital customer experience and support increased acquisition and checkout rates, offering the best payment product to the right consumer at pivotal moments in the customer’s online shopping journey,” Alliance said in a statement.

Alliance intends to leverage Bread’s solutions along with its own existing private label, general-purpose and commercial products.

COVID-19

Its brand partners will therefore get another advantage in the eCommerce channel, with online businesses already getting a boost from COVID-19.

“With the timing of the holiday season upon us, the COVID-19 pandemic has accelerated the adoption of digital technologies, and perhaps nowhere as significantly as in financial services and payments,” said Val Greer, chief commercial officer, Alliance Data.

BNPL is now crowded with cash-rich players

Payments giant PayPal (NASDAQ: PYPL) announced in August that it would begin offering BNPL services, recognizing that COVID-19 had triggered a dramatic increase in their popularity.

Other players in the BNPL field include Klarna, Affirm, Afterpay, and Quadpay.

In a recent study, Tech Crunch found that PayPal had the highest retailer coverage with a presence of 65% retailers. Afterpay was a distant second at 10%, then Affirm 6%, Klarna 5%, and QuadPay 2%.

The study concluded that PayPal was primed to dominate the BNPL wars.

Related Story:   PayPal Challenges Klarna In U.K. BNPL Tussle                                                

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Source: https://dailyalts.com/alliance-data-buys-bnpl-fintech-bread-for-450m/

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