iAngels Israeli Deal Digest – June 2019

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

This June we tracked 31 announced deals totaling $981M, and 5 exits totaling $207M.

IT & Enterprise Software was the leading sector this month. TripActions, a technology-enabled corporate travel management platform, raised $250 million in a Series D financing round led by Andreessen Horowitz with the participation of Group 11, Lightspeed, and Zeev Ventures. SentinelOne, a company that delivers autonomous endpoint protection through a single agent that prevents, detects, responds and hunts attacks on-premise and cloud environments, raised $120 million in a Series D financing round led by Insight with participation of NextEquity, Redpoint Ventures, Samsung Ventures, SineWave Ventures, Sound Ventures, Third Point Ventures, Tiger Global, UpWest, Westly Group, Granite Hill, Data Collective, Accel and a private investor.

On the M&A and IPO side, we saw one large acquisition, Creso Pharma, and one large IPO, Fiverr. Creso Pharma, a public company that provides cannabis-derived therapeutic grade nutraceutical products, developing, registering, and commercializing pharmaceutical-grade cannabis and hemp-based products and treatments, was acquired by PharmaCielo for $85 million. Fiverr, a marketplace for creative and digital services, such as graphic design, copywriting, voiceovers, and music and film editing, raised $110 million in its initial public offering on the New York Stock Exchange.

June 2019 Investment Highlights

Seed Rounds

  • Orca Security, a start-up developing a technology which provides full-stack visibility into all organizational assets, including the cloud infrastructure level, operating systems, applications and data, and vulnerabilities, malware and compromised assets detection, received $6.5 million in seed funding led by YL Ventures GP with the participation of two private investors.
  • Simpo, a SaaS engagement platform, which provides companies with embeddable apps with built-in insights engine that let PMs track, adjust, and optimize their user’s experience, received $4.5 million in seed funding led by Redpoint Ventures with the participation of Janvest Capital Partners,  Seedcamp, UpWest Labs Fund, and two private investors.
  • Hoopo, a start-up developing a GPS-independent geological solution for IoT networks & sensors, received $3.5 million in seed funding from TAU Ventures Fund, Japan Israel High Tech Ventures and Global IoT Technology Ventures (GiTV).

A Rounds

  • Cellebrite, a digital intelligence solutions company, has raised $110 million in a Series A financing round with IGP, a private equity fund.
  • AnyVision, a company that develops software capable of real-time face and object recognition within large crowds, has closed a $31 million extended Series A round. DFJ Growth, Eldridge Industries, Lightspeed, M12, OG Tech, Qualcomm Ventures, and Robert Bosch Ventures all participated in the most recent Series A round.
  • Neuroblade, a company that develops processors for artificial intelligence applications, has raised $23 million in a Series A financing round led by Marius Nacht, with the participation of Grove Ventures Fund, Intel Capital, Rami Lipman, Stage One, and private investors.
  • GuardKnox, an automotive cyber-solutions company providing comprehensive cyber defense for connected and autonomous vehicles, has completed a $21 million Series A funding round led by FMC capital, with the participation of Allied Holdings, CyberTech International, Faurecia, Glory Ventures, Kardan N.V., NextLeap Ventures, Plug & Play, SAIC Venture Capital, Shay Livnat, VectoIQ, and private investors.
  • Fireblocks, a startup that finds a way to securely transfer digital assets, has completed a $12 million Series A funding round co-led by Eight Roads and Tenaya, with the participation of Amichai Shulman, CyberStarts Fund, Gil Mandelzis, Marius Nacht, MState, Nir Zuk, Shlomo Kramer, Swisscom Ventures, and private investors.
  • Vulcan Cyber, a startup that provides a continuous vulnerability remediation solution, has completed a $10 million Series A funding round led by TenEleven Ventures with participation from Giora Yaron, Glenn Chisholm, Idan Plotnik, Michael Boodaei, YL Ventures, and private investors.
  • Quik, a food delivery company that allows customers to order groceries to their house, received $10 million in Series A funding from Central Bottling Company (Coca Cola), Super Pharm, and Union Tech Venture.
  • Variantyx, providing genome testing services to clinicians for collaborative diagnosis of rare inherited disorders, received $7 million in a Series A funding round from Pitango.
  • CybeReady, a startup with a platform that provides customers training on phishing and cybersecurity, received $5 million in a Series A funding round funded by Baseline Ventures.
  • Indorz, a company with a CEA (Controlled Environment Agriculture) farming solution, has raised $1.4 million in a Series A financing round with participation from Fundit and private investors.
  • Cannova, a startup that develops a strip for oral administration of active cannabis substances to allow producers to more effectively control dosage quantities and safety in the delivery of cannabinoid products, has raised $1 million in a Series A financing round from Nabis Holdings.

 B Rounds 

  • InFarm, an indoor urban farmingcompany dedicated to provide urban communities with fresh, nutritious produce, by distributing smart vertical farms throughout the city, directly where people live and eat, has raised $100 million in a Series B financing round led by Atomico with participation of Archimedes Labs, Astanor Ventures, Atlantic Food Labs, Balderton Capital, Cherry Ventures, IDEO, LocalGlobe, Mons Investments, Quadia, and TriplePoint.
  • DayTwo, a Microbiome-Base Precision Medicine company, developing personalized nutrition, diagnostic, and therapeutic solutions using artificial intelligence and machine learning, has raised $31 million in a Series B financing round led by aMoon partners fund with participation of Johnson & Johnson Innovation, Seventure Partners, Mayo Clinic Initiative, Ofek Ventures Fund, and three private investors.
  • Sunbit Payment Software, a company that has developed a payment solution for retailers to split a purchase into multiple payments, enabling its customers to pay over time using a personalized payment plan, has raised $26 million in a Series B financing round led by Zeev Ventures with participation of Chicago Ventures, G-Bar Ventures, Group 11, Heroic Ventures, Levy Family Partners, Skydeck and three private investors.
  • BrightWay Vision (BWV), a company that is developing a night-vision technology that monitors a car’s forward facing vehicle’s environment, aiding the driver, with assistance from the active safety systems to make driving at night safer, has raised $25 million in a Series B financing round co-led by Koito and Magenta Venture Partners Fund with participation of Manor Family, Lubinski Group, and Elbit Systems.
  • DouxMatok, a food-tech company that offers sugar and salt reduction solutions to the Food and Beverages industry, reducing sugars and salt by 40% in multiple applications while retaining identical taste and sensory profiles, has raised $22 million in a Series B financing round led by BlueRed Partners with the participation of Btov Partners, DSM Venturing, Foodlab Capital, Gefen Capital Fund, Gil Horsky, Jesselson, JLL Partners, JVP Venture Partners, La Maison, OurCrowd, Pitango Ventures, Singha Ventures, Sudzucker, and two private investors.
  • Iron Scales, a company that has created an anti-phishing threat protection platform combining human and machine intelligence to automatically analyze, detect and remove malicious emails before and after landing in an inbox, has raised $15 million in a Series B financing round led by K1 Investment Management.
  • Cylus, a company that has developed a cybersecurity software to detect and control rail incidents and service disruptions caused by cyber-attacks, has raised $12 million in a Series B financing round led by Magma Venture Partners and Vertex Israel Fund, with the participation of The Blue Minds Company, SBI Japan-Israel Innovation Fund, Follow the See, Cyient, Cerca Fund and two private investors.
  • Testim, a company that uses AI for the authoring, execution and maintenance of automated tests, has raised $10 million in a Series B financing round led by SignalFire with the participation of Spider Capital, Lightspeed, Meron  Capital Fund, NHN, Spider Capital and TEEC Angel Fund.

Growth/Miscellaneous Rounds

  • TripActions, a technology-enabled corporate travel management platform, has raised $250 million in a Series D financing round led by Andreessen Horowitz with the participation of Group 11, Lightspeed, and Zeev Ventures.
  • SentinelOne, a company that delivers autonomous endpoint protection through a single agent that prevents, detects, responds and hunts attacks on-premise and cloud environments, has raised $120 million in a Series D financing round led by Insight with participation of NextEquity, Redpoint Ventures, Samsung Ventures, SineWave Ventures, Sound Ventures, Third Point Ventures, Tiger GLobal, UpWest, Westly Group, Granite Hill, Data Collective, Accel and Ashton Kutcher.
  • MinuteMedia, a company that is developing products that enable fans to create, publish, share and distribute sports content around the world, received $40 million in a Series F financing round with participation from Battery Ventures, Dawn Capital, Gemini Israel, Goldman Sachs, Hamilton Lane, Kreos Capital, La Miason, Maor, North Base Media, Qumra Capital, Remaigne Ventures Fund, Seven Ventures, and Vintage Investment Partners.
  • Innoviz, a company that manufactures high-performance, solid state LiDAR sensors and perception software that enables the mass production of autonomous vehicles, has raised $38 million in a Series C financing round led by undisclosed investors.
  • Camtek, a manufacturer of metrology and inspection equipment and a provider of software solutions serving the Advanced Packaging, Memory, CMOS Image Sensors, MEMS, RF and other segments in the Semiconductors industry, completed a $16.2 million PIPE from Chroma.
  • ReWalk Robotics, a company that develops, manufactures and markets wearable robotic exoskeletons for individuals with lower limb disabilities as a result of spinal cord injury or stroke, has completed two PIPEs, the first in the size of $10.8 million and the other in the size of $5 million by undisclosed investors. 
  • Cyber Observer, a company that delivers a cybersecurity management and awareness solution that provides CISOs and executives with a view of their current cybersecurity posture, revealing the security gaps that exists and delivering continuous proactive recommendations, received $8 million in a Series C financing round led by Merlin International with the participation of Moonbow, Swarth Group, Tails Capital and Private Investors.
  • Else Nutrition, a food and nutrition company, focused on research, development, manufacturing, marketing sal and license of plant-based food and nutrition products to the infant, toddler, children and adult market, closed a $5.7 million PIPE with undisclosed investors on the Toronto Stock Exchange Ventures.

M&A and IPOs

  • Fiverr, a marketplace for creative and digital services, such as graphic design, copywriting, voiceovers, as well as music and film editing, raised $110 million in its initial public offering on the New York Stock Exchange.
  • Creso Pharma, a public company that provides cannabis-derived therapeutic grade nutraceutical products, developing, registering and commercializing pharmaceutical-grade cannabis and hemp-based products and treatments, was acquired by PharmaCielo, a Canadian supplier of grown and processed medicinal-grade cannabis oil extracts, for $85 million.
  • CoolaData, a behavioral data analytics platform to help businesses optimize customer management and lead to actionable insights, was acquired by Medallia, an enterprise customer feedback management software platform, for $7.6 million.
  • Cannabliss, an Israeli manufacturer of consistent and smoke-free medical cannabis products, was acquired by Together Pharma, a company focused on growing, exporting, and distributing medical cannabis, for $3.9 million.
  • QM7, a private company that has developed a management tool for companies to keep track of all the most frequent activities and tasks delivered to members across the organization, was acquired by Top Group, an advanced software solutions and computer services company, for $0.67 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 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.