Welcome to the iAngels Monthly Deal Digest, a summary of movements in the Israeli startup market.
This September we tracked 23 announced investment rounds totaling $867 million, with a huge $400 million round raised by Compass at a $4.4 billion valuation.
This month we also tracked 3 exits totaling in $1.8 billion, led by the acquisition of Mazor Robotics Ltd. for $1.6 billion. This is the largest amount ever paid for an Israeli company in the medical sector, beating the $1.1 billion that Mitsubishi Tanabe Pharma paid for Neuroderm last year.
Read on for the full scoop!
September 2018 Investment Highlights
Series Seed Rounds
- Barrel Protocol, a startup aiming to serve as a standard mark for data privacy compliance using blockchain technology, has raised a $4 million financing round from Gigi Levi, NEO Global Capital (NGC), Altair Ventures, and U.K. based accelerator Collider.
- Jones, a startup that offers a Pay-As-You-Go solution for independent contractors, has raised a $2.8 million seed round led by Hetz Ventures alongside JLL Spark, MetaProp Ventures, GroundUp Ventures, and 500 Startups.
- Mystore-E, a startup that enables retailers to tell more relevant and personalized story to their customer, has raised $2.2 million in a seed round and secured an exclusive partnership with Signet Jewelers.
- Intsite, a startup developing machine vision system that alerts crane operators to risks in their work environment, has raised $1.35 million from Terra Venture Partners.
Series A Rounds
- Spacemesh, a developer of a base layer protocol for a new blockchain infrastructure, has closed a $15 million Series A financing round led by Polychain, with the participation of MetaStable, Paradigm, Coinbase Ventures, Bain Capital, iAngels, and other investors.
- Source Defense, a cybersecurity startup that prevents websites from third-party vulnerabilities, has raised $10 Million in Series A funding round led by AllegisCyber, with participation from Jerusalem Venture Partners (JVP), Global Brain and Connecticut Innovations
- Setoo, an insurance and protection-as-a-service startup, closed a $9.3 million Series A financing round led by Kamet, AXA’s Insurtech startup studio.
- BrandTotal, a marketing intelligence startup, has closed a $6 million Series A financing round led by Flint Capital with participation from NHN Investment, One Way Ventures, FJ Labs and previous investors Glilot Capital Partners and Keshet Dick Clark Productions.
- ZenCity, a startup that analyzes online conversations and reports trends and sentiments to city officials, has raised $6 million in a series A round of funding from Vertex Ventures, Microsoft’s M12 venture fund, and Canaan Partners Israel.
- Taxel, a developer of a white label platform for immersive live and on-demand VR/AR experiences, has raised a $3 million financing round from Cornerstone Venture Partners, Start Capital, F2 Capital, Alchimia Investments, and 500 Startups.
- Seedo (listed as Eroll Grow Tech Ltd.), a home cannabis farming startup, has raised a $2 million financing round from Cannabics Pharmaceuticals Inc.
Series B Rounds
- Singular, a startup working to unify data for marketers, has raised $30 million in Series B funding led by Norwest Venture Partners.
- Alpha Tau Medical, a radiation cancer therapy developer, has closed a $29 million financing round led by Shavit Capital with the participation of OurCrowd, Medison Ventures and private equity investors Sir Ronald Cohen and Alan Patricof.
- Snyk, a cybersecurity startup that detects vulnerabilities in open source code projects, has raised a $22 million financing round Led by Accel, with participation from GV plus previous investors Boldstart Ventures and Heavybit.
- Body Vision Medical, a company that specializes in lung cancer diagnostics through augmented real-time intra-body navigation and imaging, has raised an $8.5 million financing round led by the chairman Zohar Gilon, with participation from other investors.
- Biop Medical Ltd., a cervical cancer diagnosis startup, has raised $2.2 million in a funding round led by South Africa-based medical equipment company Avacare Health Group,
- Compass, a platform that helps home buyers, sellers, and renters find properties, has raised $400 million in a series F round of funding led by SoftBank’s Vision Fund and Qatar Investment Authority (QIA), with participation from Wellington, IVP, and Fidelity.
- Sisense, a business analytics software that allows users to prepare, analyze, and visualize complex datasets, has raised an $80 million funding round led by Insight Venture Partners.
- MeMed Diagnostics, an automated medical diagnosis solution, has raised a $70 million funding round from China’s largest insurer, Ping An Insurance Group Co of China Ltd., OurCrowd Ltd., Hong Kong-based billionaire Li Ka-Shing, and electronics manufacturer Foxconn, among other investors.
- Forter, a company that uses machine learning to detect and prevent fraud in online retail transactions, has raised $50 million in a series D funding round led by March Capital Partners. Salesforce Ventures joined the round, along with previous investors including Sequoia Capital and New Enterprise Associates (NEA).
- Freightos, a marketplace for logistics providers, has raised a $44.4 million Series C round led by Singapore Exchange, with participation from General Electric Ventures (the lead investor of Freightos’ Series B extension last year), ICV and Aleph.
- WalkMe, whose products are designed to adapt the user experience on websites to the user’s personal needs, has raised $40 million at an estimated $1 billion valuation. Insight Venture Partners led the round with participation from Mangrove Capital Partners, the first investment institution recruited by WalkMe.
- Pixellot, an automated AI-based sports production technology company, has raised $30 million in a financing round led by Shamrock Capital.
M&A and IPOs
- US Dublin-based med-tech company Medtronic plc (LSE: MDT) has acquired Mazor Robotics Ltd. (Nasdaq: MZOR) (TASE:MZOR), a developer of robotic guidance systems for spinal surgery, for $1.6 billion.
- US online and mobile food-ordering and delivery marketplace GrubHub (NYSE: GRUB) have acquired campus food ordering platform Tapingo for $150 million.
- Flipkart, India’s largest e-commerce marketplace, has acquired Upstream Commerce, a developer of a cloud-based, automated competitive pricing and product analysis solutions, for an estimated $30 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.