iAngels Israeli Deal Digest – July 2019

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

This July we tracked 37 announced deals totaling $1.4B, and 5 exits totaling $259M.

IT & Enterprise Software was the leading sector this month. Compass, a tech-driven real estate platform that uses technology to aid agents and clients in finding a place to live, has completed a $370 million growth round from the Canada Pension Plan Investment Board (CPPIB), Dragoneer Investment Group LLC, the Qatar Investment Authority (QIA), 406 Ventures, Advance Publications, Fidelity, Founders Fund, Goldman Sachs, IVP, Lead Eagle Capital, Thrive Capital, Wellington Management, and Softbank Vision Fund. Lightricks, a company that creates leading creativity tools for the mobile generation including the company’s first two paid products, Facetune and Enlight, has closed a $135 million Series C funding round led by Goldman Sachs Private Capital Investing group with the participation of Carmel IV, ClalTech, and Insight.

On the M&A and IPO side, we saw one large acquisition, Elastifile, and one IPO, Eco Wave Power. Elastifile, a company that augments cloud capabilities with enterprise-grade, scale-out file storage and allows enterprises to leverage cloud resources without refactoring applications, was acquired by Google for $200 million. Eco Wave Power, a company that developed a technology for turning ocean and sea waves into green electricity, raised $13.6 million in its initial public offering on the Nasdaq First North, a division of the Nasdaq Nordic stock exchange.

July 2019 Investment Highlights

Seed Rounds

  • Tamar Robotics, a life sciences startup that is developing robots to assist neurosurgeons in the operating room, has raised $2.8 million from Mivtach Shamir with participation from Israeli research university Technion Israel Institute of Technology.
  • Rightbound, an IT & Enterprise Software company that develops technology facilitating automation and streamlining of sales processes between organizations and companies, received $2 million in seed funding from the IBI Tech Fund.
  • Env0, a startup that enables users to create their own environment in a cloud account, won the TMTI conference investment of $0.25 million in seed funding from TAU Ventures Fund, Tel Aviv University’s venture capital fund.

A Rounds

  • UVEye, a computer vision startup that specializes in the design and building of camera inspection systems for vehicles, has raised $31 million in a Series A Financing round co-led by Toyota Tsusho, Volvo Cars and W. R. Berkley Corporation with the participation of SeedIL, FIT Ventures, and Ahaka.
  • Juganu, a startup that provides a technology for the professional LED market, including performance LED lighting modules and complete LED smart lighting systems, has completed a $23 million Series A funding round led by Viola with the participation of OurCrowd, BM Holdings, Mordechai Ben-Schach, Armada Investments, and private investors.
  • DUST Identity, a startup that created the Diamond Unclonable Security Tag (DUST), a technology utilizing nano-engineered diamonds to create an unclonable identity layer on any object, has closed a $10 million Series A round led by KPCB with the participation of Airbus Ventures, Angular, Castle Island, Lockheed Martin Ventures, Nathan Kaiser, and New Science Ventures.
  • Smartair, a travel tech startup that created an online marketplace connecting travel suppliers (airlines, hotels, car rentals and local attractions and activities) with travelers who can plan, customize & book their trip in one single platform, has closed a $6 million Series A round led by Talma Travel, with the participation of Alpha Capital and other undisclosed VC funds.
  • Shieldox, a startup with an AI autonomous Policy Decision Point (PDP) that protects shared sensitive documents, has completed a $4 million Series A funding round with Marius Nacht, Club 100 Plus, Eldad Weiss, Keiretsu Forum, and Yoav Chelouche.
  • Polyrize, a cybersecurity startup that helps enterprise security organizations to regain control of the public cloud, has closed a $4 million Series A round led by Glilot Capital with the participation of Saban Ventures Fund.
  • MetoMotion, a clean tech startup that develops a robotic system for labor-intensive tasks in greenhouses, has raised $1.5 million in a Series A financing round with Ariel Bentata and other private investors.
  • Liberdi, a life sciences startup that is developing an all-in-one portable dialysis solution, comprised of hardware and software, providing scalable digital and safe self-care anywhere with remote medical supervision, has raised $1.13 million in a Series A Financing round from ExitValley.
  • Emerj, a startup that helps organizations fight attrition and supercharge their employees with skills and opportunities to drive growth through peer-to-peer learning, has raised $0.8 million in a Series A Financing round with 12Angels Fund, Fiona Darmon, Fusion LA, Garrett Gilbertson, Inbal Shenfeld, Zion Halfon, and other private investors.

 B Rounds 

  • Curve 1, a fintech startup that combines a person’s cards into one card to make the payment and banking process easier, has closed a $55 million Series B round led by Gauss Group with the participation of Breega Capital, CreditEase, IDC Ventures, Outward VC, Santander Innoventures, Seedcamp, and Speedinvest.
  • enSilo, a startup that protects businesses around the world from data breaches and disruption caused by cyber-attacks, has completed a $23 million Series B funding round from Carmel, Counterview Capital, Lightspeed, OG Tech, and Rembrandt Venture Partners.
  • Lendbuzz, a startup that uses Big Data analytics to improve access to credit for international students and professionals living in the US, especially for car loans, has raised $20 million in a Series B Financing round from 83North, Suhel Kothari, and private investors.
  • Vcita, a startup with an all-in-one business management app for small businesses, has raised $15 million in a Series B Financing round led by Forestay with the participation of ADIP, Darya, NetMe, and private investors.
  • Lightico, a startup that developed an innovative mobile communication center that empowers customer experience and leads digital service, support and sales teams to success, has raised $14.5 million in a Series B Financing round led by Mangrove Capital Partners with the participation of Crescendo Venture Partners, Lool Ventures, and Spinach Angels.
  • Belong.life, a startup that provides a social network for cancer patients and caregivers to help manage and fight cancer more effectively, has completed a $14 million Series B funding round led by IQVIA with the participation of Eshbol, Harel Prag, The Group Ventures, and private investors.
  • K Health, a life science startup that uses data to empower people to make informed health decisions by utilizing AI to give people immediate answers to ensure quality healthcare, has completed a $12.5 million Series B funding round from Mangrove Capital Partners, Lerer Hippeau, Primary Venture Partners, BoxGroup, Max Ventures, Bessemer Venture Partners, and Comcast Ventures.
  • Hello Heart, a life science startup that develops a device that tests blood pressure and blood sugar levels and helps patients monitor their health, drug intake, and physical exercise through a mobile app (and iAngels portfolio company), has raised $12 million in a Series B Financing round led by Khosla Ventures with the participation of Amicus Capital, Arab Angel, Arba, BlueRUn, CapitalG, Datalogix, Facebook, Franklin Trust, iAngels Crowd, Maven Ventures, Resolute Ventures, Wanxiang Healthcare Investments, and WTI.
  • Minute.ly, a startup with an AI-driven video enhancement solution, offering a set of tools that empower content creators and publishers, has closed an $8 million Series B round led by Infront with the participation of Gadi Veinrib, Gilad Shabtai, and private investors.

Growth/Miscellaneous Rounds

  • Compass, a tech-driven real estate platform that uses technology to aid agents and clients in finding a place to live, has completed a $370 million growth round from the Canada Pension Plan Investment Board (CPPIB), Dragoneer Investment Group LLC, the Qatar Investment Authority (QIA), 406 Ventures, Advance Publications, Fidelity, Founders Fund, Goldman Sachs, IVP, Lead Eagle Capital, Thrive Capital, Wellington Management, and Softbank Vision Fund.
  • Lightricks, a company that creates leading creativity tools for the mobile generation including the company’s first two paid products, Facetune and Enlight, has closed a $135 million Series C funding round led by Goldman Sachs Private Capital Investing group with the participation of Carmel, ClalTech, and Insight.
  • Lendbuzz, a startup that uses Big Data analytics to improve access to credit for international students and professionals living in the US, especially for car loans, has raised $130 million in a debt financing round led by BHI, the U.S. division of Israel-based Bank Hapoalim, with participation from Viola credit V, ConnectOne Bank, and Israel Discount Bank New York (IDB).
  • Hippo Insurance Services, a company that is looking to reduce the time and money spent on home insurance and allows users to obtain coverage for modern households, has raised $100 million in a Series D financing round led by Bond Capital with the participation of Broad Beach Ventures, Comcast Ventures, Felicis Ventures, Fifth Wall, GGV Capital, Hillhouse Capital, Horizons Ventures, HSB Ventures, ICONIQ Capital, Lennar, Moderne Ventures, Pipeline Angels, Propel Venture Partners, RPM Ventures, Standard Industries, Zeev Ventures and 7 private investors.
  • Trax, a company that provides computer vision solutions and analytics for retail, has completed a $100 million Series D funding round led by HOPU with the participation of Boyu Capital, Broad Peak Master Fund, DC Thomson, GIC, Investec, Warburg Pincus, and private investors.
  • Menlo Security, a company that provides a cloud-based isolation platform that protects organizations from cyber attacks by eliminating the threat of malware from websites, documents and emails,  has raised $75 million in a Series D financing round from American Express, Baruch Future Ventures, Engineering Capital, Ericsson Ventures, General Catalyst, HSBC Group, JP Morgan, Osage University Partners and Sutter Hill Ventures.
  • Graduway, an alumni software provider that provides institutions a way to engage their alumni, students, and supporters through a powerful platform – to enable them to connect with each other, has raised $60 million in a Series C financing round led by K1 Investment Management with participation of BTG Pactual, Elevator Ventures, Massa Innovations, RSL Venture Partners, Susquehanna and a private investor.
  • TravelPerk, a web-based tool for travellers that manages travel policies, budgets and payment methods as well as customer support services, has raised $60 million in a Series D financing round led from Amplo, CBi2 Capital, DST Global Solutions, Felix Capital, Heartcore Capital, Innuvik Ventures, Kinnevik AB, Latitude, LocalGlobe, Spark Capital, Sunstone Capital, Target Global, and 9 private investors.
  • BigID, a company that developed software to help companies secure their customer data and satisfy privacy regulations like GDPR, has raised $50 million in Series C financing round co-led by Boldstart and Comcast Ventures with participation from ClearSky Fund, Deep Fork Capital, Genacast Ventures, Information Venture Partners, SAP.iO and Scale VP.
  • BiondVax, a publicly-traded biopharmaceutical company developing a Universal Flu Vaccine that provides multi-season and multi-strain protection against all human influenza virus strains, both seasonal and pandemic, completed a $20 million PIPE with aMoon Partners Fund.
  • TrapX, a cybersecurity company that  provides clients with a solution that detects, deceives and defeats cyber-attacks and human attackers in real-time, has raised $18 million in a Series D financing round led by Ibex Israel Fund with the participation of BRM Group, Intel Capital, Liberty Israel, Opus Capital, and Strategic Cyber Ventures. 
  • Blender, a global e-lending platform that provides multi-continental and cross-border lending services, has raised $17 million in a debt financing round led by Eiffel Investment Group SAS.
  • P-cure, a company concerned with expanding the availability of proton therapy and hence the treatment of certain cancers by developing an imaging-based solution for treatment with protons and a delivery system that enables the use of fixed beam, technologies for treatment of various cancer indications, has raised $15 million in a Series D financing round led by Popular Line Medical Group with the participation of Everett Partners, Lions Peak, StartVest and a private investor.
  • Foamix, a pharmaceutical company that develops and commercializes topical drugs for dermatological therapy, closed a $14 million PIPE with Perceptive Advisors and Orbimed Israel.
  • TradAir, a company offering FX and crypto trading solutions for banks and brokers, has raised $11 million in a Series D financing round from Carmel Ventures, Genesis Partners, GF Investments, Insight, Long Ridge, Viola Credit, and a private investor.
  • Blender, a global e-lending platform that provides multi-continental and cross-border lending services, has closed a $5 million Series C round led by Asia Plus Group Holdings with the participation of Allied Holdings, Blumberg Capital, Doron Aviv, Eti Langermann, Fattal, Lahav Mezzanine Fund, OBV, Psagot, and private investors.

M&A and IPOs

  • Elastifile, a company that augments cloud capabilities with enterprise-grade, scale-out file storage and allows enterprises to leverage cloud resources without refactoring applications, was acquired by Google for $200 million.
  • ADT, a semiconductor company that develops and produces blades and machinery for the dicing of silicon-based integrated circuits, package singulation, and hard material microelectronic components, was acquired by Neng Yang, a Chinese investment fund, for $35 million.
  • Eco Wave Power, a company that developed a technology for turning ocean and sea waves into green electricity, raised $13.6 million in its initial public offering on the Nasdaq First North, a division of the Nasdaq Nordic stock exchange.
  • PAI-Tech, an internet company that provides a development platform and a marketplace where everyone can develop, sell and buy decentralized apps, was acquired by Horizons Holdings, a US private investment firm focused on buying unique independent companies, for $8.8 million in Stock.
  • Baligam, a social buying website for lifestyle products that struggled with debt issues was acquired by GROO, a social website for discount purchasing, for about $1.3 million (NIS 4.6 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.