iAngels Israeli Deal Digest - September 2018

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,

Growth/Miscellaneous Rounds

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.

Subscribe to the iAngels Deal Digest

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.