iAngels Israeli Deal Digest – July 2020

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

This July we tracked 41 announced deals totaling at approximately $971.2 Million, and 2 exits of $1.9 Billion. July also included iAngels portfolio company, Taranis, raising a C round.

HealthTech and InsureTech were the two top-performing sectors this month. Nanox, which developed an innovative digital X-ray-based imaging device that produces a three-dimensional scan, raised a $110 million series B financing round with investments by SK Telecom, Fujifilm Holdings Corp., and Foxconn. Lemonade, a property and casualty insurance company, raised $319 million in its initial public offering (IPO) on the New York Stock Exchange.

On the M&A side, we tracked one large acquisition in the sector of IoT. ForeScout, leader in IoT device visibility and control, and Advent International, a global private equity firm, announced that the companies have agreed to amend the terms of their previously announced transaction. The Forescout Board of Directors has unanimously approved a revised definitive agreement under which Advent will acquire all outstanding shares of Forescout common stock for $1.6 billion.

July 2020 Investment Highlights

Seed Rounds

 

  • Env0, a startup developer of self-service cloud management software, closed a $3.5 million seed extension round, led by Crescendo Venture Partners with participation from new investor M12 – Microsoft’s venture fund and existing investors Boldstart Ventures and Grove Ventures.

 

A Rounds

 

  • Curv, a developer of cryptographic asset protection infrastructure, raised $23 million in round A funding from investors including CommerzVentures, Coinbase Ventures, Digital Currency Group, Team8, and Digital Garage Lab Fund

  • GoTo Global, the vehicle sharing tech platform, raised $19 million in a Series B funding round led by WeWork co-founder Adam Neumann.
  • Ermetic, helps organizations enforce tighter, least privilege access policies across both user and machine identities to help prevent data breaches, raised $17.25 million in Series A financing round led by Accel, and with the participation of previous investors Glilot Capital Partners, Norwest Venture Partners and Target Global.
  • Buildots, develops technology that allows construction companies to keep a close eye on the processes at a construction site with computer vision and artificial intelligence, raised $12.5 million in Series A financing round. The round was led by Tel Aviv-based venture capital firm TLV Partners and joined by Innogy Innovation Hub, Israeli construction company Tidhar Group.
  • Cybellum, a leader in Automotive Cybersecurity Risk Assessment, today announced a $12 million A round led by RSBG Ventures GmbH with additional investment from Cybellum existing investors, Blumberg Capital and Target Global.
  • NovaSight, a startup building products to help cure myopia in children by using eye-tracking glasses, completed an $8 million series A financing round led by Rimonci Capital and joined by strategic investors from both pharmaceutical and medical device industries.
  • Nucleai, uses computer vision and machine learning algorithms to predict the progress of cancerous tumors as well as the patient’s immune system response in order to determine the most efficient treatment, raised $6.5 million in a series A round led by Debiopharm Group and existing investors, Vertex Ventures Israel and Grove Ventures Capital (GP) Ltd
  • Nectin, developing a number of antibodies that can enhance the treatments being offered to cancer patients, completed the first $6 million closing of a financing round led by aMoon.
  • Valid Network, an Israel-based blockchain cybersecurity startup, raised $6 million in a seed round led by Boston-based Ten Eleven Ventures LLC, with participation from Jerusalem Venture Partners (JVP).

 

  • CAPS Medical, developer of a highly selective and minimally invasive non-thermal plasma device for cancer treatment,completed a $3.5 million Series A financing round financing round led by Chasing Value Asset Management and the Los Angeles-based Israel Investment Fund Group (IIFG).
  • SavorEat, which employs a 3D printing robot to prepare plant-based steaks with the characteristics of real meat raised, $3 million from Israeli investment houses, Mor and Meitav Dash.
  • Trobix Innovation, a Netanya-based biotechnology company developing therapies to remove the threat of antimicrobial resistance, closed a $3 million Series A funding round led by Chartered Opus.

B Rounds

 

  • Nanox, which developed an innovative digital X-ray-based imaging device that produces a three-dimensional scan, raised a $110 million series B financing round with investments by SK Telecom, Fujifilm Holdings Corp., and Foxconn.
  • Explorium, which created a platform to make finding the right data set for AI algorithms, raised a $31 million Series B led by Zeev Ventures, with help from Dynamic Loop, Emerge, 01 Advisors and F2 Capital.
  • CyCognito, an information cybersecurity company, raised $30 million in a series B funding round led by Accel with participation from previous investors Lightspeed Venture Partners, Sorenson Ventures and UpWest.
  • XM Cyber,a leader in breach and attack simulation (BAS) advanced cyber risk analytics and cloud security posture management, has closed a $17 million Series B funding round with Macquarie Capital, Nasdaq Ventures, Our Innovation Fund, and Swarth Group.
  • Belkin Laser, one-second non-invasive glaucoma laser treatment company, completed a $12.25 million Series B financing round led by CR-CP Life Science Fund and with the participation of Rimonci Capital, Santen Ventures, BioLight Life Sciences and C-Mer Eye Care Holdings.
  • Epsagon, developed a software-as-a-service (SaaS) automated end-to-end monitoring technologies for serverless cloud-based systems, completed a $10 million financing round led by DTCP.
  • Seebo, developed cloud-based software that allows industrial manufacturers to quickly and cost-effectively turn existing machinery into smart connected systems that report their health and usage data, raised $9 million in a series B round led by Israel-based Ofek Ventures.

C Rounds

 

  • Chorus.AI, a conversation intelligence platform company, raised $45 million in a Series C round led by Georgian Partners with participation from Emergence Capital, Redpoint Ventures, and new investor Sozo Ventures.
  • Taranis, iAngels uses deep-learning technology and agronomic understanding to offer insights that create a more sustainable farming ecosystem, raised $30 million in a Series C financing round led by Vertex Growth and with the participation of new investors Hitachi Ventures, Mitsibushi, UFG Capital, Micron Ventures, UMC Capital, La Maison, Mindset Ventrures, iAngels

  • Pi-Cardia, a next generation valve repair device, The Leaflex Performer – Unique Non-Implant Based Valve Treatment, has closed a $27 million round of financing, led by Sofinnova Partners.
  • ClimaCell, the weather forecasting and intelligence service that is using new techniques to gather weather data, raised a $23 million Series C round co-led by new investor Pitango Growth and existing investor Square Peg Capital.
  • RealView Imaging, a medical holography company, completed its $10 million Series C funding round led by OurCrowd and Judith and Kobi Richter  as well as other investors and physicians.

 

Growth/Miscellaneous Rounds

  • Hippo, an insurtech startup, raised $150 million in an E round led by FinTLV Ventures, Ribbit Capital, Dragoneer Investment Group and Innovius Capital.
  • Gett, an on-demand ride hailing company, raised $100 million in a financing round by undisclosed new and existing investors. 
  • OwnBackup, a cloud-to-cloud business continuity platform, raised a $50 million financing round led by Insight Partners, and with participation from Salesforce Ventures, Vertex Ventures and previous investor Innovation Endeavors.
  • Augwind (TASE: AUGN), an energy-storage company, raised $47 million from financial institutions in a private placement.
  • Eccopia, develops specialized robots that autonomously clean industrial-sized solar panel fields, without the use of water, announced a strategic $40 million investment coming from CIM Group, an American real estate, infrastructure, and energy management company.

 

  • ImageSat, FIMI-controlled space intelligence solutions company, received $32 million from Discount Bank in exchange for an allocation of 17% of its shares.
  • DarioHealth (Nasdaq: DRIO), a pioneer in the global digital therapeutics market, closed a private placement transaction with accredited investors, including healthcare funds and institutions from the U.S. and Israel for $28.6 million.
  • CartiHeal, developer of the proprietary Agili™-C implant for the treatment of joint surface lesions in traumatic and osteoarthritic joints, secured an additional $15 million equity investment from Bioventus, a global leader in orthobiologics.
  • Applicaster, a technology company that simplifies the creation, delivery and management of over-the-top video applications, raised $11 million in Series D funding round from lead investor, Viola Growth. 
  • ReWalk, Israel-based, publicly-traded robotic walking assistance company, issued $9 million worth of shares on the Nasdaq.
  • MeaTech, a 3-D bioprinting meat company, raised $5.8 million from Israeli retailer Rami Levy.

  • SuperCom, a publicly-traded company providing integrated solutions for tracking and identification, raised $3.2 million in a private placement deal.
  • AppsVillage, a marketing SaaS solutions-provider trading on the ASX as APV, has successfully completed a placement to institutional and private investors raising $2.14 million.

 

M&A & IPOs

 

  • Lemonade, a property and casualty insurance company, raised $319 million in its initial public offering (IPO) on the New York Stock Exchange.
  • ForeScout, leader in IoT device visibility and control, and Advent International, a global private equity firm, announced that the companies have agreed to amend the terms of their previously announced transaction. The Forescout Board of Directors has unanimously approved a revised definitive agreement under which Advent will acquire all outstanding shares of Forescout common stock for $1.6 billion.