iAngels Israeli Deal Digest – March 2020

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

Over the past month, the world has been rocked by the rapid and global spread of the Coronavirus. Most countries went into lockdown to contain the spread of the virus. As a result, economic activity slowed across the world. 

This March we tracked 20 announced deals totaling approximately $297.65 Million, and 2 exits totaling approximately $1.45 Billion

Miscellaneous Semiconductors and IT & Enterprise Software were the two top performing sectors this month. Hailo, a company that develops a breakthrough microprocessor based on a disruptive proprietary technology for deep learning applications, that will deliver data center performance to edge devices, closed $60 Million in a series B financing  round co-led by ABB Technology Ventures and NEC with participation from Glory Venture, Latitude Ventures, Maniv Mobility, Next Gear Fund, OurCrowd and Private Investors. Axonius, a cybersecurity asset management company that gives organizations a comprehensive asset inventory, uncovers security solution coverage gaps, and automatically validates and enforces security policies, closed $58 Million in a series C financing round led by Lightspeed with participation from Bessemer, Emerge Fund, OpenView, Vertex, WTI and YL Ventures. 

On the M&A side, one large acquisition was made in the field of IT & Enterprise Software and one other acquisition in the field of Life Sciences. Checkmarx, a company that develops software solutions used to identify, fix and block security vulnerabilities in web and mobile applications, was acquired by Hellman & Friedman for $1.15 Billion. STERO Biotechs, a company that develops cannabidiol (“CBD”) for co-administration with steroids, so that the effective doses of steroids can be significantly reduced, thereby potentially avoiding or reducing the many safety issues relating to steroid administration, was acquired by Kalytera for $30 Million.

March 2020 Investment Highlights

A Rounds 

  • Quantum Machines, a company that develops operation and control systems for quantum computers, hardware and software that allow to realize the potential of quantum computing, raised $17.5 Million in a series A financing round co-led by Harel Insurance Investments and Financial Services and a Private Investor with participation Battery Ventures, Meron Capital Fund and TLV Partners.
  • Axis Security, a company that develops a solution for private, secure and simple access to enterprise applications in enterprise clouds and enterprise servers, collected $14 Million in a series A financing round led by TenEleven Ventures with participation from CyberStarts Fund and Private Investors.
  • ePlane, a company that is a free end-to-end sourcing solution for the aviation industry, connecting buyers, sellers & MROs from across the world, received $9 Million in a series A financing round led by Marubeni Ventures with participation from Cockpit and Private Investors.  
  • URECSYS, an iAngels portfolio company and an environmental health technology pioneer in the battle against urban air pollution, closed $4 Million in a series A financing round from iAngels, GRG Patents, MYN Investments and Private Investors. 
  • Sepio, a cyber security company that provides security teams with full visibility into their hardware assets and their behavior in real time, raised $4 Million in series A financing round led by Munich Re Ventures with participation from Hanaco VC.
  • TetaVi, a high-tech company that focuses on developing a method and system to generate high quality Free Viewpoint Video (FVV) content for sports, broadcast and virtual reality applications to be viewed on all available screens, collected $4 Million in a series A financing round led by REDDS Capital with participation from Asia Alpha Private Equity, MJR-09 Family Trust, Pix Vine Capital, Sandler Investments and Stone Family Partners.
  • Y-Platform, a company that runs a large online video channel for the Chinese audience to understand the young generation of foreigners in China, received $3.5 Million in a series A financing round from Kunlun, Weibo Corp and a Private Investor. 
  • Odix, a software company that uses unique algorithm to neutralize any malware including ransomware, known and unknown from most commonly used files which are one of the most popular cyber-attack vectors, closed $2.1 Million in a series A financing round from Club 100 Plus, EMET Computing, Keiretsu Forum and Private Investors. 
  • Pruvo, a company that developed an app that will track the price the users paid when booking the hotel, and notify them as soon as it’s down, so they can cancel it, and book the exact same room, at the new, lower price, raised $1.1 Million in a series A financing round co-led by SeedRocket 4Founders and Private Investors with participation from a Private Investor.

    B Rounds 

    • Hailo, a company that develops a breakthrough microprocessor based on a disruptive proprietary technology for deep learning applications, that will deliver data center performance to edge devices, closed $60 Million in a series B financing  round co-led by ABB Technology Ventures and NEC with participation from Glory Venture, Latitude Ventures, Maniv Mobility, Next Gear Fund, OurCrowd and Private Investors.
    • Air Doctor, is a marketplace of doctors for tourists traveling abroad, making it easy to find a trusted and licensed doctor nearby and schedule an immediate appointment, raised $7.8 Million in a series B financing round from Kamet Ventures and Pheonix Investment and Finances. 
    • OrthoSpin, a company focused on developing a smart external fixation system to allow real-time physician follow-up and to reduce dependency on patient compliance, received $5 Million in a series B financing round led by Johnson & Johnson Innovation with help from Trendlines Incubators and Private Investors.  
    • Anchora Medical, a company that developed an automatic, single-use suturing device for the approximation of soft tissue during minimally invasive surgeries, closed $4.5 Million in a series B financing round co-led by Hoya and Tal Capital with participation from RLI and a Private Investor.
    • Perimeter 81, a network security company that is designed to simplify secure network, cloud and application access for the modern and distributed workforce, raised $4.5 Million in a series B financing round led by Toba Capital with help from JAL Ventures, SonicWall, Spring Ventures and a Private Investor.  

    C Rounds 

    • Axonius, a cybersecurity asset management company that gives organizations a comprehensive asset inventory, uncovers security solution coverage gaps, and automatically validates and enforces security policies, closed $58 Million in a s series C financing round led by Lightspeed with participation from Bessemer, Emerge Fund, OpenView, Vertex, WTI and YL Ventures. 
    • Pyramid Analytics, a company that offers a business intelligence and analytics platform that enables individuals, from power users to knowledge workers to decision makers, to transform their organization into a data-driven business, raised $25 Million in a series C financing round led by JVP with help from Maor, Sequoia Israel, Viola Growth and Viola Partners. 
    • BioSight, a pharmaceutical development company that is focused on the development of therapeutics to enable safer and more effective treatment for life-threatening diseases, collected $19 Million in a series C financing round from Arkin Bio Ventures, Ilan Holdings, Israel Biotech Fund, Primera Capital, SBI JI Innovation Fund, Shine Global Family Office and Private Investors. 
    • Anagog, a company that utilizes its JedAI suite of products to enable mobile phones to understand users’ real-world behaviors and real-time context, received $10 Million in a series C financing round co-led by IN Venture and MizMaa Ventures with participation from Continental AG, Daimler M&A Tech Invest, GigOptix Inc, Porsche Ventures, Skoda and Union Tech Ventures. 

    Growth/Miscellaneous Rounds 

    • Protalix, a pharmaceutical company that manufactures a plant-based enzyme, taliglucerase alfa, which has received U.S. Food and Drug Administration approval for the treatment of Gaucher disease, closed $43.7 Million in a series C financing round from Alrov, Citi, Highbridge Capital, More Investment House, Psagot, Rosalind Capital Partners and UBS O’Connor. 
    • ScoutCam, a company that specializes in developing minimally invasive endosurgical tools and imaging solutions, collected $0.948 Million in a series C financing round from Undisclosed Investors.

    M&A and IPOs

    • Checkmarx, a company that develops software solutions used to identify, fix and block security vulnerabilities in web and mobile applications, was acquired by Hellman & Friedman for $1.15 Billion.
    • STERO Biotechs, a company that develops cannabidiol (“CBD”) for co-administration with steroids, so that the effective doses of steroids can be significantly reduced, thereby potentially avoiding or reducing the many safety issues relating to steroid administration, was acquired by Kalytera for $30 Million.

    we’d like to thank you for tuning in to our deal digest. If you’d like to receive a version directly to your inbox, please subscribe below.

     

    Best,

    The iAngels Team