iAngels Israeli Deal Digest – April 2020

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

Over the past few months, the world has been rocked by the rapid and global spread of the Coronavirus. With the expectation of restrictions starting to ease, so too has funding increased compared to the month of March. 

This April we tracked 36 announced deals totaling approximately $720.6 Million, and 1 exit of $67 Million

IT & Enterprise Software and Miscellaneous Semiconductors were the two top performing sectors this month. Biocatch, an iAngels portfolio company that delivers behavioral biometrics, analyzing human-device interactions to protect users and sensitive data, raised $145 Million in a series C financing round led by Bain Capital Tech Opportunities with participation from Amex Ventures, Blumberg Capital, CreditEase FinTech Fund, Industry Ventures, Janvest, Maverick Capital, Nexstar Partners and OurCrowd. Vast Data, a company that simplifies data centers and redefining how organizations interact with data with its Universal Storage concept, collected $100 Million in a series C financing round led by Next47 with participation from 83North, Commonfund Capital, Dell Capital, Greenfield Partners, GS Growth, Mellanox Capital and NVP.  

On the M&A side, we tracked one acquisition in the field of Life Sciences. ApiFix, a company that develops a minimally invasive, deformity correction system for the treatment of progressive adolescent idiopathic scoliosis (AIS), was acquired by OrthoPediatrics for $67 Million.

April 2020 Investment Highlights

Seed Rounds

  • Corsight AI,a company that facilitates the identification of individuals within population concentrations, while dealing with face and costume covers, lighting difficulties, remote detection, challenging angles and more, closed $5 Million in a seed round from Awz HLS.
  • Arti.tv, a company that provides the ability to create augmented-reality stories full of insights, data, and information, raised $4 Million in a seed round led by Axon Ventures Fund with participation from Private Investors.  
  • SuperTrans Medical, a biopharmaceutical company developing novel antibiotics by improving the properties of existing FDA compounds following chemical conjugation to a unique transporter technology called Guanidinium-Rich Molecular Transporter (GRMoTr), collected $2 Million in a seed round from Mediforum.
  • Pileus, a computer software company that offers a platform designed to optimize cloud-based software with cloud-related accounts, received $1 Million in a seed round from Private Investors.
  • SOSense, a company that developed a new device that can prevent potential drownings, without using cameras, closed $1 Million in a seed round led by Cresson Management with participation from IPE and Private Investors. (The article is in Hebrew.) 

     

    A Rounds 

    • Tonkean, a process management and automation platform that manages processes, connects systems, automates work, and coordinates people, allowing teams to focus on what matters, raised $24 Million in a series A financing round led by Lightspeed with participation from Foundation Capital, Magma and Slow Ventures.
    • Bridgecrew, a company that develops and delivers security as a code, so anyone, anywhere can deploy the defenses needed to protect their cloud infrastructure, collected $14 Million in a series A financing round led by Battery Ventures with participation from DNX Ventures, Homeward Ventures, NFX, Sorenson Capital, Tectonic Ventures and Private Investors.  
    • Granulate, a company that develops a product to improve real-time performance of cloud servers and solves the trade-off between service quality and costs, and provides customers with high-quality results through improved infrastructure performance, received $12 Million in a series A financing round led by Insight Partners with participation from Hetz Ventures, TLV Partners and Private Investors. 
    • MigVax, a company that develops a sub-unit corona vaccine through the use of a chimeric protein that introduces the viral proteins into the immune system through the pharynx, closed $12 Million in a series A financing round led by OurCrowd with participation from Private Investors. 
    • Orchestra Group, a company that developed a platform that combines multiple security abilities and products into a unified platform which allows for a more effective construction and enforcement of organizational security policies, raised $7.5 Million in a series A financing round led by PRYTEK with participation from Founders Group, PICO Partners, Target Global and a Private Investor.
    • XRHealth, a medical device company that develops XR (VR/AR) therapeutic platform consisting of innovative, immersive, therapeutic applications which address a wide variety of neuro-cognitive, emotional and physical symptoms, collected $7 Million in a series A financing round from 20/20 HCP, Bridges Israel Fund and Flint Capital. 
    • Addionics, a company that has developed a scalable 3D metal fabrication method to enhance car battery performance, increase mileage and safety, and reduce cost and charging time, raised $6 Million in a series A financing round led by Next Gear Fund with participation from a Private Investor. 
    • ZES, a company that automates climate comfort in every room while optimizing workload and reducing energy consumption, received $5.3 Million in a series A financing round led by SCG with participation from Fusion LA, Israel G-Tek and Private Investors. (The article is in Hebrew.) 
    • MyndYou,  a platform that provides tools for maintaining cognitive abilities through technology based on passive monitoring approach, novel cognitive assessment method, and AI-generated, actionable insights, closed $4 Million in a series A financing round led by AI Life Sciences Investments with participation from Amplifyher Ventures, Daybreak Capital Partners, First Round Capital, Impact First and Musketeer Capital.   
    • URECSYS, an iAngels portfolio company that has developed a unique machine learning and data-rich, scientific algorithm for smart prediction and control of indoor pollution, collected $3 Million in a series A financing round led by iAngels with participation from MYN Investments and Private Investors.  
    • AgroScout, a company that is developing an autonomous scouting system that uses deep learning algorithms based on artificial intelligence to allow quick, efficient detection, identification, and monitoring of crop diseases throughout the entire field, received $3 Million in a series A financing round led by Kibbutz Yiron with participation from Agriline, Trendlines Incubators and Private investors via  ExitValley.   

     

    B Rounds 

    • Cheetah Technologies, a company that offers business owners a simple, affordable and fast solution for the procurement of their daily supplies, closed $36 Million in a series B financing round led by Eclipse Ventures with participation from AltaIR Capital, BoxGroup, Floodgate, Hanaco VC, ICONIQ Capital and a Private Investor.  
    • Tabit, a company that has developed a complete restaurant system for all functions, seating management, reception of diners, online ordering, self ordering Kiosk, staff & kitchen management and tablet-based waiters, raised $35 Million in a series B financing round led by Vertex with participation from Harel Insurance Investments and Financial Services, Pitango and Private Investors.
    • CyberMDX, a company that offers a comprehensive security solution that enables the identification and learning of medical device and critical network assets automatically and protection without interference of the device itself, collected $20 Million in a series B financing round led by Sham with participation from Goldbell Investments, OurCrowd, Pitango and Private Investors. 
    • Scopio, a company that has designed and built a computational microscope and developed a proprietary diagnostics platform to enable quality microscopic analysis, received $16 Million in a series B financing round from OurCrowd, Aurum, LR Group, Mivtach Shamir, Olive Tree, Targum Shlishi and Private Investors.  
    • Secret Double Octopus, a software company specializing in passwordless authentication for enterprise environments that is highly resistant to common attacks such as phishing, MITM and cracking, closed $15 Million in a series B financing round from Benhamou Global Ventures, Global Brain, Iris Capital, JVP, KDDI Open Innovation Fund, Liberty Israel, Sony Financial Ventures and a Private Investor.  
    • InnovoPro, a company that develops protein powder from hummus and among others, produces ice creams, milk substitutes and protein for bodybuilders, raised $15 Million in a series B financing round led by JVP with participation from Bits x Bites, CPT Capital, ELSA, Food Future, Foodlab Capital, ID Capital, IDB Holding Corp, Jesselson, Living Essentials, MedGenesis, Migros, Yara Ventures, Shin Shin and Private Investors.
    • Hargol FoodTech, a company that has developed an innovative farm system for high-quality and sustainable grasshopper protein production, collected $3 Million in a series B financing round co-led by Sirius Venture Capital and SLJ with participation from Private Investors.   
    • By Next, a mobile application for on-demand laundry & dry-cleaning service where users can have their laundry or dry-cleaning picked up and delivered to their door, received $1.5 Million in a series B financing round from AddVenture. (The article is in Hebrew.)
    • V-Check, a company that developed a digital payment platform that allows sending and receiving digital checks which are transferred directly to the bank account, closed $0.5 Million in a series B financing round from Private Investors. (The article is in Hebrew.)   

         

        C Rounds 

        • Biocatch, an iAngels portfolio company that delivers behavioral biometrics, analyzing human-device interactions to protect users and precious data, raised $145 Million in a series C financing round led by Bain Capital Tech Opportunities with participation from Amex Ventures, Blumberg Capital, CreditEase FinTech Fund, Industry Ventures, Janvest, Maverick Capital, Nexstar Partners and OurCrowd. 
        • Vast Data, a company that simplifies data centers and redefines how organizations interact with data with its Universal Storage concept, collected $100 Million in a series C financing round led by Next47 with participation from 83North, Commonfund Capital, Dell Capital, Greenfield Partners, GS Growth, Mellanox Capital and NVP.
        • Otonomo, a company that provides car manufacturers, drivers, and service providers with a cloud-based solution that connects millions of cars, received $46 Million in a series C financing round led by SK Holdings with participation from Alliance Ventures, Avis, Bessemer, Cerca Fund, ClalTech, Delphi Venture Capital, EMC Ventures, Hearst Ventures, LocalGlobe, Maniv Mobility, NTT DOCOMO Ventures and StageOne. 
        • GlassBox, a company that provides businesses with big-data behavioral and analytics solutions for web and mobile apps, closed $40 Million in a series C financing round led by Brighton Park Capital with participation from CE Ventures, Gefen Capital Fund, Ibex Investors Sapir Venture Partners, Updata Partners and Private Investors. 
        • Anodot, a company that monitors all data for revenue impacting incidents in real-time, raised $35 Million in a series C financing round led by Intel Capital with participation from Aleph, Disruptive Technologies Fund, Greylock Israel, La Maison, Redline Capital, Samsung Next and SoftBank Ventures Asia.  
        • Pi-Cardia, a medical device company developing a low-profile catheter for treating aortic stenosis, a serious valve disease, collected $27 Million in a C series financing round led by Sofinnova with participation from Accelmed, Anatomy Medical Technologies Fund, CBI, Fondi Atlante Ventures, Innogest, JVC, LongTec China Ventures, VI Ventures, Zaitoun Ventures and Private Investors.   
        • SafeBreach, a company that provides a “hacker’s view” of an enterprise’s security posture to proactively predict attacks, validate security controls and improve SOC analyst response, received $19 Million in a series C financing round led by OCV with participation from Cerca Fund, Deutsche Telekom Capital Partners, DNX Venture, Draper Nexus, Hewlett Packard Pathfinder, Maverick Ventures, Pathfinder, PayPal and Sequoia Israel. 
        • Juganu, a technology company providing solutions for the professional Lighting and Communication market, closed $18 Million in a series C financing round led by Comcast Ventures with participation from Amdocs Ventures, Armada Investment Management, BM Holdings, OurCrowd and Viola Growth. 
        • Gauzy, a vendor of material science, focused on developing, manufacturing, and marketing LCG® (light control glass) technology, raised $10 Million in a C series financing round led by Hyundai CRADLE with participation from Avery Dennison Corporate Venture Capital Program, BlueRed, Ibex Investors, Olive Tree and Waarde Capital.  

                       

                      Growth/Miscellaneous Rounds 

                      • Amiad, a company that develops and produces water treatment and filtration solutions, collected $22 Million from FIMI.
                      • Check-Cap, a clinical stage medical diagnostics company focused on the development of innovative imaging devices, received $4.5 Million from Undisclosed Institutional Investors.  

                       

                      M&A and IPOs

                      • ApiFix, a company that develops a minimally invasive, deformity correction system for the treatment of progressive adolescent idiopathic scoliosis (AIS), was acquired by OrthoPediatrics for $67 Million.

                       

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                      Best,

                      The iAngels Team