iAngels Israeli Deal Digest – January 2019

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

This January we tracked 34 announced deals totaling $455.6M, and 6 exits totaling $401.1M.

IT & Enterprise Software was the leading sector this month. Globality, a company leveraging AI to revolutionize the way businesses buy and sell services, raised $100 million in a Series D financing round with participation from Raine Ventures, Softbank’s Vision Fund, THK Equites and private investors; and Cato Networks, a company that provides organizations with a cloud-based, secure, global SD-WAN, receiving $55 million in a Series C financing round led by Lightspeed with the participation of Aspect Ventures, Greylock, SingTel Innov9, USVP and private investors.

On the M&A side, we saw two larger acquisitions including Cloud Endure and Corephotonics. Cloud Endure, a company that provides disaster recovery and live migration for all applications, enabling enterprises to mobilize entire workloads with near-zero downtime and no data loss, was acquired by Amazon for $200 million. Corephotonics, a market leader in dual camera technologies for mobile devices, was acquired by Samsung for $155 million.

Read on for the full scoop!

January 2019 Investment Highlights

Seed Rounds

  • Linear B, a workforce analytics platform for software development organizations that allows for improved productivity based on objective data-driven insights, has raised $1.6 million in a seed round led by Israeli serial entrepreneur Ariel Maislos.
  • SirVir, a startup that is engaged in the development and commercialization of products in the field of treatment of respiratory viral infections based on the Apo-Si technology developed by Aposense, received $4 million in a seed round from Access.
  • Hi Deep Tech, a company that offers scalable solutions for ecosystem management, received $0.9 million in seed funding from the Israeli Innovation Authority.
  • Pecan, an innovative deep learning platform that develops automated general-purpose AI, has raised $4 million led by S Capital Fund.

A Rounds

  • Salt Security, a SaaS security company focused on the emerging attack vector of APIs, has raised $10 million in a series A round led by S Capital Fund.
  • Medigate Tech, a company that offers a medical device security platform that identifies and protects all connected medical devices on health care provider networks, has closed $15 million in a series A round raised from USVP, YL Ventures and Blumberg Capital.
  • StreamElements, a leading platform for growing and monetizing user gaming audiences, has raised $11.3 million from Pitango, Rainfall, Samsung Next and State of Mind Ventures.
  • Varada, a company that provides an on-demand SQL analytics solution, has completed a $7.5 million series A funding round led by Lightspeed with participation from F2 Capital and StageOne Ventures.
  • Hailo, a company that is developing a microprocessor for deep learning applications, has raised $8.5 million led by Glory Ventures with participation from OurCrowd, Next Gear Fund and Maniv Mobility Fund.
  • Lumigo, a startup that provides a SaaS platform to help companies monitor and troubleshoot serverless applications while providing actionable insights, has completed an $8 million series A funding round raised from Grove Ventures Fund, Meron Capital Fund and Pitango.
  • SeeTree, one of our portfolio companies that offers farmers an end-to-end service to manage and optimize the health and productivity of their trees, has raised $11.5 million in a series A round led by Hanaco VC with participation from iAngels, Canaan Israel, Mindset Ventures and Uri Levine.
  • Foretellix, a company that aims to make autonomous vehicles safer, has completed a $14 million series A round raised from 83 North, FinTLV Fund, Jump Capital, Next Gear Fund and a handful of angel investors.
  • AnyVision, an AI company specializing in face recognition in mass crowd events, has completed a $15 million Series A round led by Lightspeed.
  • JUG Technologies, the company that developed Storyball – a screen-free game ball that uses stories, challenges and social games to keep children active and playful whilst developing their skills and imagination, has raised $0.15 million in a series A round from private investors via ExitValley.
  • LitiGate, a company that is developing an accurate and timely claims analysis solution for litigators, received $1.4 million in a series A round led by the Israeli Innovation Authority.
  • Robin Hood Pro, a FinTech company focused on solving market failures in finance using blockchain technology, has raised $1 million in an extended Series A round from Jonathan Lampert and Pipelbiz.
  • MedC Biopharma, a startup that develops and commercializes pharma cannabis related IP, has completed a $5 million Series A round from AgMedica and private investors.
  • InZiv, a company that designs and manufactures inspection equipment for identifying critical defects in pixels of advanced displays, received $2.5 million in funding from Maverick Ventures Israel and private investors.

B Rounds

  • Verbit Software, a company that harnesses the power of AI and human intelligence to provide a smart transcription and captioning solution, has raised $23 million in a Series B round led by Carmel Ventures with participation from Bouaziz & Partners, ClalTech, HV Holtzbrinck Ventures, Oryzn Capital, Vertex and Vintage.
  • ReSec Technologies, a company dedicated to redefining the cybersecurity landscape through developing a single-platform solution preventing external cyber-security threats, received $2 million in a series B financing round led by Founders Group and PICO Partners with the participation from 2B Angels and Plug & Pay.
  • Zeitgold, a company that frees small businesses from paperwork by combining experts with AI to empower owners to manage and authorize time consuming accounting processes, raised $12 million in a series B financing round led by Battery Ventures with participation from AXA Venture Partners, btov Partners, DTCP Fund, HV Holtzbrinck Ventures and Saban Ventures Fund.
  • Wiliot, a fabless semiconductor company developing passive SoC platforms for the IoT market, raised $30 million in a series B financing round through participation from 83 North, Amazon, Grove Ventures Fund, M Ventures, NVP, Qualcomm Ventures and Samsung Ventures.
  • Flytrex Aviation, a company that manufactures cloud-connected drones, received $7.5 million in a series B financing round led by Benhamou Global Ventures with participation from Amanda VC, btov Partners and private investors.

Growth/Miscellaneous Rounds

  • Laminate Medical Technologies, a company that is developing a new, external support device for AV fistulas, has received $12 million in a series C financing round through participation from ADIP, Tal Capital, Haisco, Asahi Kesei and private investors.
  • Atomation Net, a company dedicated to forming an IoT platform for SHDK for the seamless creation of smart objects, received $3 million in a series C financing round with the participation of 2B Angels, BioGenerator, Jade Ventures, Janvest, Singulariteam and private investors.
  • Cato Networks, a company that provides organizations with a software-defined and cloud-based secure enterprise network, received $55 million in the form of a series C financing round led by Lightspeed with the participation of Aspect ventures, Greylock, SingTel Innov9, USVP and private investors.
  • Colu Technologies, a blockchain technology platform for developers and enterprises providing simple, easily integrated and consumer-friendly tools for accessing digital assets, raised $7 million in a series C financing round with the participation of Aleph LP, Angelic Ventures, Bitcoin Opportunity, BoxGroup, Digital Currency Group, IDN Holding Corp and Spark Capital.
  • TytoCare, a mobile health company that is transforming primary care by putting health in the hands of consumers, received $9 million in a series C financing round from ITOCHU, Sanford Health and Shenzhen Capital Group.
  • Bringg Delivery Technologies, a world-leading platform for enterprises to manage on-demand and last-mile deliveries, raised $25 million in a series C financing round from Next47, the global venture arm of German conglomerate Siemens AG.
  • Kitov Pharmaceuticals, an innovative biopharmaceutical company focused on late-stage drug development, raised $6 million with an undisclosed investment management company.
  • Globality, a company leveraging AI to revolutionize the way businesses buy and sell services, raised $100 million in a series D financing round through the participation of Raine Ventures, Softbank’s Vision Fund, THK Equities and private investors.
  • Innovid Media, a video platform that empowers advertisers to create, deliver and measure the most innovative video experiences on any device and media outlet, raised $30 million in a series G financing round from Goldman Sachs & Co.
  • Celeno Communications, a company that offers advanced Wi-Fi chipsets, edge software and cloud technology, raised $10 million in a Series F financing round, led by Iris Capital together with the participation of Cisco Investments, Greylock Israel, Liberty Global Ventures, Miven Venture Partners, OurCrowd, Pitango, Poalim Capital Markets, Red Dot Capital Partners and Vintage.
  • Lending Express, an AI-powered marketplace for business loans, raised $2.7 million from Viola Credit.

M&A and IPOs

  • Sealantis, a company that develops an alginate-based tissue adhesive technology platform, was acquired by Advanced Medical Solutions, a U.K.-headquartered wound care products company, for $25 million.
  • Splitit, a global payment solution enabling customers to make purchases by splitting costs into interest-free monthly payments, raised $8.6 million in the form of an IPO on the ASX.
  • Corephotonics, the leading licensor of dual camera imaging technologies, was acquired by Samsung for $155 million.
  • ForceNock Security, a company dedicated to producing a fully autonomous web application security solution that replaces existing WAF, API & bot mitigation solutions, was acquired by Check Point, a Nasdaq-listed network and cloud security provider for $10 million.
  • InSight Biopharmaceuticals, a company that specializes in the development, manufacturing & commercialization of biosimilar and sophisticated generics, was acquired by Hong Kong-based pharmaceutical and food retailer Gencor Pacific Ltd. for $2.5 million.
  • Cloud Endure, a company that provides disaster recovery and live migration for all applications, allowing enterprises to mobilize entire workloads with near-zero downtime and no data loss, was acquired by Amazon for $200 million.

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Best,
Massimo

Massimo is an analyst in the iAngels Investment Team and brings experience in investments and asset management. Massimo is passionate about technology and innovation, meeting with the greatest minds and ideas of talented entrepreneurs looking to make an impact. At iAngels, Massimo focuses on seed and series A investments and has built special expertise around FinTech.