iAngels Israeli Deal Digest – October 2019

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

This October we tracked 36 announced deals totaling approximately $480 Million, and 6 exits totaling $402 Million

FinTech and MedTech were the leading sectors this month. Next Insurance, a company that provides coverage for entrepreneurs and small businesses, using artificial intelligence and machine learning technologies to tailor insurance policies to its customers, has raised $250 Million in a growth round from Munich Re Ventures. Rapyd, a company that developed a payment service that enables the transfer of electronic funds across borders through bank transfers, digital wallets, cash and other means of payment, completed a $100 Million Series C funding round led by Oak HC/FT Partners along with participation of Entree Capital Israel, General Catalyst, Ignia, Stripe, Target Global, Tiger Global and private investors. 

On the M&A side, we saw two larger acquisitions both in the MedTech field –  Eximo Medical and Av Medical. Eximo Medical, a company that developed a laser-based catheter device used for the treatment of occlusive peripheral arterial disease (PAD), was acquired by AngioDynamic Inc for $46 Million. Av Medical, a company that developed catheters for dialysis patients undergoing routine angioplasty procedures, was acquired by Medtronic PLC for $30 Million

October 2019 Investment Highlights

Seed Rounds

  • Hi Auto, a company that is developing audio-visual speech enhancement that eliminates the most challenging noises, closed $4.5 Million in seed funding from Allied Holdings, Goldbell Investments, Plug & Play and a private investor.
  • Flip Fit, a social shopping platform blending the power of social media with the buying appeal of e-commerce, has received $3.75 Million in seed funding, led by a private investor, loll and TLV Partners Fund. 
  • Hunterz, a global freelancing platform that connects vendors with enterprises, utilizing individuals within the organizations, has raised $3 Million in seed funding led by ICONYC, a private investor and TLV Partners Fund.  
  • Castor, a company that provides a support system to fully utilize the benefits of industrial 3D printing, has raised $2 Million led by Evonik Venture Capital. 
  • RetiSpec, a medical imaging company developing a tool for early detection of Alzheimer’s disease biomarkers in the eye, has received $0.5 Million from the Alzheimer’s Drug Discovery Founders including an R&D grant. 

A Rounds

  • Duality, a company developing innovative technology to empower Secure Digital Analytic Collaboration applying advanced analyses and Artificial Intelligence to data while it is encrypted, closed $16 Million in Series A funding led by Intel Capital with the participation of Hearst Ventures and Team8.
  • Future Meat, a biotechnology company advancing a distributive manufacturing platform for the cost-efficient, non-GMO production of meat directly from animal cells, without raising or harvesting animals, has raised $14 Million in a Series A financing round. The round was led by S2G Ventures with the participation of Agrinnovation VC, Bits x Bites, Emerald Technology Ventures, HB Ventures, Manta Ray Ventures, Neto Group, Tyson Ventures and a private investor.  
  • Firedome, developing a software-only solution for IoT manufacturers to protect their device fleets, raised $10 Million in a Series A financing round led by Two Sigma with the participation of WTV, SilverTech Ventures and private investors. 
  • Become, an iAngels portfolio company, which nurtures businesses throughout the funding cycle, has raised $10 Million in Series A funding co-led by Benson Oak Ventures and Magenta Venture Partners Fund alongside the fund participation of iAngels Crowd, Entree Capital Israel and RIO.
  • Mogimo Inc. (HYPR), a data-driven influencer marketing platform letting brands and agencies strategize, manage and scale their influencer campaigns, has raised $8 Million in a Series A financing round from Bank Mizrahi Tefahot, Klingenstein, Fields & Co, Sapir Venture Partners, SilverTech Ventures, Star Farm Ventures and WTV. 
  • Waycare, a company enabling cities to take full control of their roads by harnessing in-vehicle information and municipal traffic data for predictive insights and proactive management optimization, closed $7.3 Million in a Series A financing round led by SJF Ventures and with the participation of Goldbell Investment, Innogy Innovation Hub Israel, Janom, Next Gear Fund, Spider Capital, UpWest and Zymestic Solutions. 
  • Tonkean, a company developing a business intelligence solution for discovering business insights, has raised $7.2 Million in a Series A financing round by Foundation Capital, Magma and Slow Ventures. 
  • Axilion, a company that harnesses AI technology that transforms traffic signals into a dynamic and adaptive traffic network, has raised $6 Million in Series A funding by private investors. 
  • Workiz, a company that creates a simple solution for managing service businesses from any device, allowing scheduling and job management with an easy to use calendar, raised $5 Million in Series A financing led by Magenta Venture Partners Fund along with Aleph and TMT Investments. 
  • The Jones Agency, a company developing an insurance management software platform for commercial real estate companies, closed $4.6 Million in a Series A financing round by 500 Startups, Ground Up Ventures, Hetz Ventures, JLL Spark, MetaProp Ventures, WeWork and private investors. 
  • SafeHouse Technologies, a proactive military-grade security company that developed core technology in the cloud which acts as a filter between the user and the Internet, has raised $2.84 Million in Series A funding led by Barclays Ventures with the participation of TechStars. 
  • Viridix, a company that helps farmers make data-driven decisions by gathering data at multiple locations in the field and uploading it to the cloud for further analysis, raised $2.35 Million in Series A funding led by the Israel-Colorado Innovation Fund alongside with AltalR Capital and other private investors. 
  • Voca.ai, a company developing a human-friendly agent that reduces the size and costs of call centers while increasing customer satisfaction, has received $0.9 Million in a Series A financing round by Amex Ventures. 

B Rounds

  • Fabric, a company that specializes in establishing robotic logistics centers for streamlining goods delivery, has raised $110 Million in Series B financing led by Corner Ventures with the participation of Aleph, CPPIB, Innovation Endeavors, La Maison, Microsoft ScaleUp, Playground Global LLC, Temasek Holdings and private investors. 
  • Adicent Bio, a pre-clinical stage biotechnology company engaged in the development of immunotherapies for cancer and other diseases, has raised $80 Million in Series B financing from aMoon, Johnson & Johnson, Novartis Venture Fund, OrbiMed, Pontifax, Regeneron Pharmaceuticals and Samsung Ventures. 
  • Viz Ai, a company using artificial intelligence and deep learning algorithms to analyze medical data and detect large vessel occlusion strokes and improve medical workflow, has received $50 Million in a Series B financing round led by Greenoaks Capital and in participation of AME Cloud Ventures, CRV, DHVC, GV, KPCB, Innovation Endeavors, Susa, Techammer, Threshold Ventures and a private investor.  
  • Upstream Security, a company that develops cloud-based security technologies that offer data protection, anomaly detection and real-time analytics against cyberattacks on connected cars, raised $30 Million in Series B financing led by Alliance Ventures along with the participation of CRV, Glilot Capital, Hyundai Autoever, Maniv Mobility, Nationwide Ventures and Volvo Cars Tech Fund. 
  • Stampli, a cloud-based interactive invoice management software that streamlines the entire accounts payable process by fixing the communication breakdown, has received $25 Million in Series B funding led by SignalFire and with the further participation of Bloomberg Beta, Hilsven, NextWorld and UpWest.  
  • ControlRad, a company working to reduce radiation exposure during fluoroscopy has picked up $15 Million in Series B financing led by Questa Capital and with the participation from Jennison Associates, Mendham and private investors. 
  • Folloze, a prospect engagement platform in which sellers and marketers can rapidly build and share content capturing key analytics about their buyers’ interests, raised $11 Million in a Series B financing round led by BGV, with participation from Canvas Ventures, Cervin Ventures, Grayhawk Ventures, NEA, TriplePoint Ventures and SVB. 
  • OpenLegacy, a company accelerating the legacy API integration from 6 months to hours, raised $10 Million in a Series B financing round led by Silverhorn Investments, with participation from C. Entrepreneurs, Commerz Ventures, Leumi Partners, OG Tech, PRYTEK and RDC. 
  • 3DSignals, a company developing software that uses sensors to monitor the performance of industrial equipment and provides real-time diagnostics and insights, raised $8.5 Million in a Series B financing round led by Mercura Capital, with participation from DIVE digital, Dor Engineering, Grove Ventures and State of Mind Ventures. 
  • Talenya, a company that has developed bots powered by AI, which serve as virtual recruiters for open talent roles from hundreds of online sources, raised $6.5 Million in Series B financing led by Ibex Israel Fund and participation of Gal Ventures and lool. 
  • DayTwo, a company that has developed a microbiome human discovery platform that offers a glycemic control solution for people with type II diabetes, has raised $5 Million in Series B financing led by Longliv Ventures and with the participation of Cathay Innovation and Samsung NEXT. 
  • Paygilant, a fraud protection company for mobile payments, raised $0.75 Million from Connecticut Innovations as part of a larger investment round being raised in this period.  
  • EyeControl, a company creating an innovative communication device for individuals who suffer from complete paralysis, received $0.75 Million from Connecticut Innovations as winners of VentureClash Global Challenge. 

Growth/Miscellaneous Rounds

  • Next Insurance, a company that provides coverage for entrepreneurs and small businesses, using artificial intelligence and machine learning technologies to tailor insurance policies to its customers, has raised $250 Million in a growth round from Munich Re Ventures. 
  • Rapyd, a company that develops a payment service that enables the transfer of electronic funds across borders through bank transfers, digital wallets, cash and other means of payment, completed a $100 Million Series C funding round led by Oak HC/FT Partners alongside the participation of Entree Capital Israel, General Catalyst, Ignia, Stripe, Target Global, Tiger Global and private investors. 
  • Namogoo, a company developing a customer hijacking prevention technology which identifies and blocks unauthorized ads injected into consumer web sessions, raised a $40 Million Series C financing led by Oak HC/FT Partners with the participation of 83North, Adler Chomski, Blumberg Capital, Founders Guild, GreatPoint Ventures, Hanaco VC, Inimiti, PICO Partners, Synapse Partners and Tectonic Capital. 
  • Idomoo, a company offering a complete suite of tools for creating, displaying and distributing data-driven customized videos, closed $18 Million co-led by Disruptive Technologies Fund and Target Global and with the participation of GEOC and other private investors. 
  • Tactile Mobility, a company leveraging augmented visual sensing to feed automotives’ onboard computers with actionable insights to optimize driving decisions in real-time, raised $9 Million with the participation of Porsche Ventures, BM Holdings, New York Angels, Union Tech Ventures and private investors. 
  • Gordian Surgical, a commercial-stage medical service company with growing international sales for its TroClose1200, a port access-closure system that offers surgeons a simple, secure and safe solution to open and close the abdominal wall during laparoscopic produces, closed a $3 Million growth round from B.Braun, Pirveli, VI Ventures and private investors.  

M&A and IPOs

  • Eximo Medical, a company that develops a laser-based catheter device used for the treatment of occlusive peripheral arterial disease (PAD), was acquired by AngioDynamic Inc for $46 Million
  • Av Medical, a company that develops catheters for dialysis patients undergoing routine angioplasty procedures, was acquired by Medtronic PLC for $30 Million
  • Chameleonx, an ad-tech security startup that develops the next generation of ad serving security technology, was acquired by Akamai for $25 Million
  • Presenso, a company that develops predictive machine learning algorithms designed to anticipate industrial machine failures, was acquired by SKF for $35 Million
  • RMDY Health, a leading provider of collaborative digital therapeutics SaaS solutions for the healthcare industry was acquired by OptimizeRx for approximately $16 Million.
  • Outbrain, a leading content discovery platform that powers personalized recommendations to content at the bottom of article pages on most of the leading publisher websites online, was acquired by Taboola for $250 Million.

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Best,
Massimo

Massimo is an investment associate in the iAngels investment team. He is passionate about technology & innovation and enjoys working alongside entrepreneurs with disruptive business ideas looking to make an impact. At iAngels, Massimo focuses on seed as well as series A, B & C investments and has built special expertise around FinTech, Cybersecurity, Enterprise Software, Environmental Tech, AgriTech and FoodTech.