iAngels Israeli Deal Digest – August 2020

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

This August we tracked 25 announced deals totaling at approximately $1.74 Billion, and 3 exits of $269 million.

HealthTech and AI Intelligence were the two top-performing sectors this month. Gong, a revenue intelligence company for sales teams, raised $200 million in a Series D financing round  led by Coatue and with participation from Index Ventures, Salesforce Ventures and Thrive Capital. Amwell, a telehealth leader, closed its Series C financing round, adding $194 million in funding across two tranches. Many early investors and strategic partners participated in this round, including Allianz X and Takeda.

On the M&A side, we tracked one acquisition in the media sector. IMGN Media, the shareable social media content and mobile-first platform company was acquired by Warner Brothers for “just under $100 million”. 

Seed Round

  • Approve.com, a procurement automation platform, secured a $5 million seed round, led by Aleph

  • 3DBattery, which develops technology that enables higher performance of lithium ion batteries, announced a $3.5 million Seed funding round led by Eliad Holdings, while Terra Ventures, CLP OSEG Energy Israeli innovation center, sandal maker Source-Israel, and Angel investor Sergio Fogel participated.
  • Vessi Medical, cryoablation, or cold therapy, solution for superficial bladder cancer, secured $1.7 million in funding from Agriline, The Trendlines Group, the Israel Innovation Authority, and ExitValley Investors participated in the funding round.

  • GiantLeap, a science-backed platform for children’s cognitive development tests, has raised a $900K seed round. Investors including GoAhead Ventures, Fusion LA, the Texas Medical Center’s Innovation Center, and US private investors.

A Round

  • K2View, an Israeli real-time DataOps solutions company, raised a $28 million financing round led by Forestay Capital and with the participation of Genesis Partners.

 

  • ImmPACT Bio, developing novel cell therapies for treating cancer, raised an $18 million equity financing round from OrbiMed, Johnson & Johnson Innovation – JJDC, Inc., Takeda Ventures, Inc., RM Global Partners (RMGP) BioPharma Investment Fund, Novartis Venture Fund, Bukwang Pharmaceutical, Hayan Health Networks, Inc., and JVC Investment Partners.

  • Innovalve, established at the Sheba Medical Center that is in advanced stages of developing technology in the field of cardiology, raised $10.5 million led ALIVE, the healthtech venture capital fund established by Bank Leumi, Maccabi and Fund.

  • Voiceitt, Israeli speech recognition technology, has raised $10 million in a Series-A financing round from Viking Maccabee Ventures, Microsoft’s M12, AMIT Technion, Cahn Capital Corp, Connecticut Innovations, AARP, Quake Capital, SLJ Family Office, Dreamit Ventures and The Disability Opportunity Fund.

 

  • Picodya, which has developed an in vitro diagnostics (IVD) platform named B-Matrix, raised $10 million led by SIBF (Southern Israel Bridging Fund).

  • EcoPlant, which develops an AI-powered IoT platform that helps save energy and costs for supporting infrastructure in factories, announces an $8 million funding as part of the company’s Series A round led by Ecolab, a U.S. company that provides solutions for industrial infrastructure. 

  • Bambi Dynamic, data-and-connectivity platform for mobility insurance products, raised $6 million in Series A funding led by MS&AD Ventures.

B Round

  • Perimeter 81, a network security company, completed a $40 million Series B financing round led by Insight Partners.

  • Thriver, a food and culture platform for business, raised $33 million in a Series B funding round led by Viola Growth with participation from new investors Vertex Ventures Israel, Union Tech Ventures, Journey Ventures, and FJ Labs, and existing investors Aleph and Altair Capital.

  • Silverfort, an Israeli cybersecurity startup, has raised $30 million in a series B financing round led by Aspect Ventures, with participation of Citi Ventures, Maor Investments, and the company’s early investors TLV Partners, StageOne Ventures and Singtel Innov8.

  • Ironscales, a startup developing an AI phishing prevention and detection platform, today closed an $8 million extension to its series B round led by Jump Capital

  • EyeControl, which developed an AI tool to help patients connected to ventilators communicate with their medical staff and family, has raised $7.5 million led by Connecticut Innovations.

C Rounds

  • Amwell, a telehealth leader, closed its Series C financing round, adding $194 million in funding across two tranches. Many early investors and strategic partners participated in this round, including Allianz X and Takeda.

  • Proteantecs, a deep data solutions developer for electronics and health performance monitoring, closed a $45 million financing round led by Koch Disruptive Technologies (KDT) with the participation of Valor Equity Partners and Atreides Management.

 

Growth/Misc. Rounds

  • Wix.com (Nasdaq: WIX), a website creation company, raised $500 million in a private offering of convertible senior notes.

  • NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) announced that it is offering $400 million in convertible senior notes due 2025.

  • Gong, a revenue intelligence company for sales teams, raised $200 million in a Series D financing round led by Coatue and with participation from Index Ventures, Salesforce Ventures and Thrive Capital.

  • Redis Labs, open-source database company, completed a $100 million Series F financing round at a company valuation of more than $1 billion. The financing round was co-led by Bain Capital Ventures and TCV.

  • Splitit (ASX:SPT), a global payment platform that enables shoppers to pay installments via their credit cards, announces today it has raised $71.5 million dollars in a private placement and share purchase plan.

  • MobileODT, Israeli cancer diagnostic company, completed a $6.85 million financing round led by the OrbiMed Advisors LLC venture capital fund, with participation from previous investor Tristel.

 

  • Cannabotech, a developer of medical solutions based on botanical combinations of cannabis extracts and fungi, is planning to raise almost $6 million in a direct share issuance to the public. Cannabotech is planning to become a public, non-traded startup company, a model that has yet to have been implemented in Israel.

M&A/IPO

  • IMGN Media, the shareable social media content and mobile-first platform company, was acquired by Warner Brothers for “just under $100 million”.

  • Nanox, a medical imaging company, raised $165.2 million in a Nasdaq IPO, upsized by 28%, at a company valuation of $800 million. This is the largest ever initial public offering by an early stage Israeli medical technology company.

  • Silver.net,  a system for managing banking and corporate treasury in the IT market in Israe, was acquired by The Malam Tim Group. The scope of the purchase is NIS 15 million.