Deal Digest December 2020
Welcome to the iAngels Monthly Deal Digest, a summary of corporate developments in the Israeli startup market.
This December we tracked 37 announced deals totaling at approximately $972 million, 2 IPOs of approximately $145 million and 1 acquisitions of approximately $7 million.
Cybersecurity and Event-planning were the two top performing sectors this month. Wiz, a cloud security company, headed by former General Manager of R&D at Microsoft Israel Assaf Rapaport, has raised a $100 million series A funding round. Venture capital funds Index Ventures, Sequoia, Insight Partners, and Cyberstarts all participated in the round. All the investors, aside from Insight, also invested in Adollam, Rapaport’s previous company, which was sold to Microsoft in 2015 for $320 million. Among the prominent private investors who participated in the round are Yevgeny Dibrov and Nadir Izrael, the co-founders of Armis Security, Which was sold to Insight in a $1.1 billion deal. Bizzabo, an event planning startup announced it had completed a $138 million series E investment round. The round was led by Insight Partners with the participation of Viola Growth, Siemens AG investment arm Next47, and OurCrowd. Part of the round includes the secondary purchase of shares from existing investors.
TIBA Parking, a leading international company in the sector of supplying turnkey systems for managing parking sites with revenue collection, is to be acquired by FAAC, an Italian multinational leader in the sector of automation and vehicle and pedestrian access control for $135 million in addition to the net cash acquired. Sonovia, a producer of a SonoMask which displayed an ability to neutralize the novel coronavirus at an effectiveness of more than 99% in trials performed by the ATCCR Laboratory, completed its IPO. Sonovia’s offering was oversubscribed, attracting a total of NIS 55.9 million ($18.5 m.), of which NIS 35 million ($10.7 million) will be liquidated in stocks to public investors to represent 25.9% of the company at NIS 9.15 a share. Sonovia raised an additional NIS 12 million ($3.7 m.) through a private offering. BladeRanger, a company that develops robotic systems for the autonomous, waterless cleaning and inspection of solar power installations, completed its IPO. The company carried out a book building offering, raising NIS 22.5 million at a company market cap of NIS 93 million.
- Walnut, a startup, which has developed a failure-free codeless platform designed to enable a seamless remote sales process, raised another $3.5 million in its new seed round from SV Angel (Ron and Topher Conway),Capital by Ronny Conway and former a16z partners. The platform features fully customizable templates for demos specific to the particular client or vertical being targeted, and features a learning system for creating demo templates based on previously successful ones, allowing sales teams to fine-tune their demos according to past experience.
- ai, a company, which developed an audio-based solution, that is able to learn the routine in at-risk environments and detect abnormalities that could indicate a possible violent incident or maltreatment, completed a $3.5 million seed funding round led by Flint Capital.
- Sealed AI, a company which offers a sales engagement platform that turns prospective calls into smart calls. The company’s platform provides salespeople with instant, actionable knowledge and a set of features designed to convert leads into sales, whether they’re in the office or on the go. The company has acquired $3 million in Seed financing round from Moonbow Ventures and private investors.
- Shareitt, a social platform which allows users to ‘buy’ and ‘sell’ second-hand items without the use of money has announced the completion of a $2 million seed fundraising round from private investors for its social trading platform. The main goal is to facilitate the ‘buying’ and ‘selling’ of second-hand goods in exchange for Shareitt coins. The platform will trade books, toys, sports goods, among others. At time of writing, the platform has 10,000 active users who have sold more than 61,000 items.
- Pigmentum, an Israeli agro-tech startup, whose technology modifies the genetic components of plants to enhance the production of natural flavor and color substances, raised $1 million in a seed round from FreshStart, a tech incubator in Kiryat Shmona. Pigmentum’s technology helps with the crossbreeding and assimilation of genetic elements of plants to generate unique seeds. According to the company, plants grown with its technology produce a concentration of pigment or flavor 10-15 times more potent than those from more conventional sources “transforming each plant into a small factory of natural flavor and aroma compounds.”
- Genda, a solution designed to assist construction site managers by generating and visualizing real-time data about project progress and resource location, based on sensors, got a grant in amount of $0.3 million from Israel – Colorado Innovation Fund.
- Wiz, a cloud security company, headed by former General Manager of R&D at Microsoft Israel Assaf Rapaport, has raised a $100 million series A funding round. Venture capital funds Index Ventures, Sequoia, Insight Partners, and Cyberstarts all participated in the round. All the investors, aside from Insight, also invested in Adollam, Rapaport’s previous company, which was sold to Microsoft in 2015 for $320 million. Among the prominent private investors who participated in the round are Yevgeny Dibrov and Nadir Izrael, the co-founders of Armis Security, Which was sold to Insight in a $1.1 billion deal.
- Firebolt, a startup, whose technology allows companies to improve the ROI of collecting data and enables a myriad of new data-driven use cases with real business impact, completed a $32 million funding round from Zeev Ventures, TLV Partners, Bessemer Venture Partners and Angular Ventures.
- Noname Security, an enterprise API security company announced $25 million in funding from Lightspeed, Insight Partners, and Cyberstarts. The platform lets enterprises see and secure their managed and unmanaged APIs, helping eliminate security blind spots.
- Versatile, a machine learning and AI construction optimization company announced that it has raised $20 million in a Series A financing round led by Insight Partners and Entree Capital, and with the participation of previous investors Robert Bosch Venture Capital GmbH, Root Ventures, Conductive Ventures, and veteran construction technology entrepreneurs Leigh Jasper and Rob Phillpot. Versatile’s CraneView uses AI and IoT to capture and analyze thousands of data points to deliver real-time insights on jobsite performance and streamline decision-making. Mounted under the hook of any crane, this technology offers production data on any jobsite including information on materials, redundancies, construction progress and crane utilization – and empowers project teams to work safer, faster, and enable a manufacturing approach to building.
- CommonGround AI, a company which addresses the need to capture the richness of in-person encounters in digital meetings, raised $19 million in a financing round led by Matrix Partners, with participation from Grove Ventures and StageOne Ventures. The startup is bringing its advanced visual technology to businesses of all sizes to improve human interaction over digital, enhance trust, increase productivity, and build stronger relationships.
- Bionic, a startup which developed a platform that gives enterprises the ability to understand and control the many application changes pushed to production every day, has emerged from stealth after completing a series A $13 million round on the back of a $4 million seed round.The series A round was led by Battery Ventures’ investors Dharmesh Thakker and René Bonvanie. Thakker is a Battery General Partner while Bonvanie is an executive in residence and CMO Emeritus of Palo Alto Networks.
- Remilk, an animal-free dairy startup, incorporated as Re-Milk Ltd., announced Wednesday that it has completed an $11.3 million funding round. The series A round was led by fresh.fund with participation from CPT Capital, OurCrowd, ProVeg and food manufacturers Hochland, Tnuva, and Tempo, as well as co-founder and Former Managing Director of Berkshire Partners, Bradley Bloom; prominent Dutch investor, Sake Bosch; serial technology entrepreneur and investor, Amiad Solomon, food-tech investor Beni Nofech and others.
- PlainID, an iAngels portfolio company, cybersecurity startup announced on the completion of an $11 million Series A funding round led by Viola Ventures, an Israel-based technology-oriented private equity investment group. Prague-based Springtide Ventures, Capri Ventures, and iAngles also participated in the round. PlainID offers an online authorization system that allows companies and organizations to monitor user identity and control web access in real time.
- BlazePod, the creator of the ‘Flash Reflex (FRX)’ training program, has raised an additional $8.5 million in its second round of funding. The round, which was led by AP Partners, brings its total capital raised to $10 million. AP Partners was represented by Adv. Atir Yaffe from Pearl Cohen Tzedek, and BlazePod was represented by Adv. Yaniv Aronovitch, Tadmor. The company combines small and portable lighting pods with an app to assist in a variety of sports and exercise activities to help with physical and cognitive fitness.
- Gigantic, a gaming startup Gigantic Ltd. has completed a $7 million funding round led by NFX Capital and Union Tech Ventures. The company, founded in 2017 by Oded Frommer and Ron Brightman, has to date raised a total of $9 million. Gigantic is the company behind the game Clawee, which enables playing real claw machines through live video streaming, and the delivering of real prizes to the winner’s doorstep.
- Reflectiz, an innovative solution provider in the third-party application security space, has officially announced the completion of a Series A financing round worth over $5 million. This recent investment round was spearheaded by Capri Ventures, a leading US early-stage enterprise tech fund, which joined forces with Reflectiz’ existing investors. The company’s solution protects online businesses from third-party privacy and security risks, client-side threats like Magecart attacks, and more.
- myInterview, a Smart video interview platform has raised $5 million in a seed round led by Aleph, with participation from previous investors Entrée Capital and SeedIL Ventures. The latest round adds to the previous pre-seed round of $1.6 million which included investment from former Linkedin executive Cliff Rosenberg. myInterview aims to make the hiring experience easy and accessible for applicants, SMBs, and enterprises by using machine learning-powered analytics to match candidates with offices that have a similar company culture. After analyzing pre-recorded video interviews from candidates, it actively inverts the latest trend of anonymizing job applications by prioritizing candidates that appear to be a good match – at least on camera.
- ai, an automated sales convertor, raised $4 million for its AI-powered assistant helping companies scale their sales and marketing operations. Primary investors include Glilot Capital and West Fountain Global Fund, in participation with angel investors Alex Pinchev, former President of Red Hat, and Gur Shomron, the chairman of Israel’s WalkMe. Exceed.ai automatically qualifies leads through email, webchat, and SMS while utilizing natural language processing (NLP) to help teams understand the response of any given lead.
- NewRocket, a startupannounced the launch of what it calls a ‘New Generation’ of rockets. The startup’s Next-Gen rockets are adaptable to a variety of satellites of all sizes. In addition to the rockets, the company also develops PowerGel – an advanced gel-based fuel – which provides a more sustainable fuel solution that’s still powerful and controllable, following the strictest industry regulations. To expand its global reach, the company already secured $1 million, out of an ongoing funding round, led by UK based Consensus Business Group (CBG), led by prominent investor Vincent Tchenguiz.
- Trigo Vision, Tel Aviv-based shopping automation startup announced on Monday that it has completed a $60 million series B financing round. The round was led by 83North with participation from previous backers including Vertex Ventures Israel, Hetz Ventures, Red Dot Capital Partners, Tesco, and Morrag Investments. The latest round brings the total funding of Trigo, which was founded in 2018 by brothers Michael and Daniel Gabay, to $94 million. Trigo uses AI-powered computer vision technologies together with off-the-shelf hardware to retrofit existing stores. The company applies its proprietary algorithms to ceiling-mounted cameras which automatically learn and upload data on shoppers’ movements and product choices, enabling customers to simply walk into a store, pick up their desired items, and walk out without stopping at the checkout.
- Orca Security, a cybersecurity startup announced it had raised $55 million in a series B funding round led by ICONIQ Growth and with the participation of existing investors: GGV Capital, YL Ventures GP Ltd. and Silicon Valley CISO Investments (SVCI). The new round brought Orca Security’s total funding raised over the past two years to $82 million.
- SeeTree, an agtech startup, which provides growers with AI-powered intelligence on trees and tree clusters announced that it has raised $30 million in a series B funding round led by the International Finance Corporation (IFC), the private-sector arm of the World Bank Group.
- Zoomin, announced that it had completed a $14 million series B funding round, bringing its total capital raised to $21 million. Bessemer Venture Partners, Viola Growth, and Salesforce’s investment arm all took part in the round. Zoomin developed a platform to improve end-user access and personalization of product answers, which is already in use by companies such as McAfee, Mastercard, and Dell.
- Hibob, the company behind human resources management platform ‘bob’, announced that it had raised $70 million in a series B round led by SEEK and Israel Growth Partners. The investment will enable Hibob to continue its global expansion with the goal of simplifying employer-employee communication and management in growing companies and helping them adapt to the new employment world.
- MitrAssist, a medical device startup raised $50 million at a valuation of $300 million. Investors in the company include China’s Fosun Pharma and insurance company Ping-An. Centurium Capital and CICC Capital co-led the current round, with CITTIC Capital and 6 Dimension also participating. The company had previously raised approximately $35 million. The startup has developed a medical valve that is inserted into a catheter for symptomatic patients with primary or secondary mitral regurgitation, who are at high risk for surgery or with prevention of surgery. It began successful human trials about a year ago, and plans to hit the market in about two years.
- AtBay, a cybersecurity company which insures companies against cyberattacks during the digital age has raised $34 million in a series C round led by Qumra Capital. The company also revealed that Microsoft’s M-12 fund doubled its investment in this round. To date, the company has raised some $91 million, and its investors include entrepreneur Shlomo Kramer, Lightspeed Venture Partners, insurance giant Munich Re Ventures, Acrew Capital fund, and Khosla Venture. The current investment will be used by the company to recruit additional employees, launch new products, improve its existing platform, and form new collaborations.
- Salt Security, Tel Aviv and Palo Alto-based company has raised a $30 million series B funding round by Sequoia Capital, the company announced Tuesday. Tenaya Capital, S Capital VC, and Y Combinator also participated in the round. In June, the company raised a $20 million round. To date, the company has raised a total of $60 million in equity financing. Other investors in Salt Security include Check Point co-founder Marius Nacht, and René Bonvanie, who serves as EVP of Strategic Accounts at Palo Alto Networks. Founded in 2016 by Michael Nicosia and Eliyahu, Salt Security uses artificial intelligence algorithms to develops protection tools for application programming interfaces (API).
- BioSight, a company developing innovative cancer therapeutics for hematological malignancies and disorders, announced the closing of a $46 million Series C financing round led by Israel Biotech Fund (IBF) with participation from new investors, The Phoenix Insurance Company and Migdal Insurance Company, and Biotel, as well as existing investors including Arkin Bio Ventures and Primera Capital. The company raised $19 million earlier this year and has now raised another $27 million to complete the financing round.
- Cylus, a railway cybersecurity startup raised $7 million in Series B financing round from Alstom investing. Together, Alstom and Cylus will integrate cybersecurity technology into railway processes, components, and solutions. The technology will be implemented first in the Tel Aviv metropolitan light rail system with a capacity of 200,000 passengers a day. Alstom previously won a contract to supply the signaling and train control systems for the Tel Aviv Red Line tramway in 2017.
- BigID, a company which develops online privacy protection tools announced on that it had completed a $70 million series D financing round at a valuation of upwards of a billion dollars. The latest round was led by Salesforce Ventures and Tiger Global with participation by Glynn Capital and existing backers Scale Venture Partners, Bessemer Venture Partners, and Boldstart Ventures. The deal included primary and secondary share purchases. This is the company’s third financing round in slightly over a year, after its series C round was doubled within four months, bringing its total capital raised to $220 million.
- Bizzabo, an event planning startup announced it had completed a $138 million series E investment round. The round was led by Insight Partners with the participation of Viola Growth, Siemens AG investment arm Next47, and OurCrowd. Part of the round includes the secondary purchase of shares from existing investors.
- Superpedestrian, a company which spun out of MIT and invested 8 years and $75 millionto patent more than 30 electric vehicle technologies that have resulted in the only e-scooter with On-Board Intelligence, giving LINK scooters a competitive advantage in safety and reliability, has secured major financial backing from the Citi Impact Fund, OurCrowd, Winthrop Square Capital, and others part of a new $60 million investment in the transportation robotics company that will fuel responsible growth of its LINK scooter fleet equipped with unique On-Board Intelligence and an active safety system.
- Real, a technology-driven online real estate brokerage that offers agents a complete solution for their operational and marketing needs, acquired $20 million from Insight Partners.
- BrainsGate, a company, which has developed a technology for the treatment of strokes named the Ischemic Stroke System, completed a series F funding round of $14 million at a valuation of $147 million. The round was led by new investors BNP and SPERO with the participation of existing investors including Elron, Medtronic, Agate, Pitango and Cipio. The round is meant to fund the company’s activity until its PMA (premarket approval) request filed with the FDA (U.S. Food and Drug Administration) is approved, as well as to expand its manufacturing, and to file for the receipt of indemnity payments from U.S. government health insurers.
- Qualitas Health (iWi), plant-based omega-3 pioneers, announced it had secured $10 millionin venture funds at a $73million post-money valuation. The investment round is being led by world-class foodTech investor PeakBridge VC, Malta, together with Arancia Group, a privately owned Mexico-based food ingredient/food service conglomerate, Minrav (the company’s largest investor) and additional private investors. Additional convertible notes held by Minrav Holdings, Sasa, Trucent and other single investors are converted to equity. The investment will accelerate customer acquisition, and commercialization of the company’s unique plant-based protein.
- ReWalk (NASDAQ: RWLK), which develops, manufactures, and markets wearable robotic exoskeletons for individuals with lower limb disabilities as a result of spinal cord injury or stroke, announced that it had repaid in full the outstanding balance on its credit line from Kreos Capital V (Expert Fund) Limited (“Kreos”). The final payment was made on December 29, 2020 and discharged all of the Company’s obligations to Kreos. ReWalk and Kreos entered into an agreement to establish the line of credit at the end of 2015, and ReWalk drew down an initial tranche of $12 million at the beginning of 2016. Further drawdown provided the company an additional $8 million of funds for a total loan amount of $20M.
- TIBA Parking, a leading international company in the sector of supplying turnkey systems for managing parking sites with revenue collection, is to be acquired by FAAC, an Italian multinational leader in the sector of automation and vehicle and pedestrian access control for $135 million in addition to the net cash acquired.
- Sonovia, a producer of a SonoMask which displayed an ability to neutralize the novel coronavirus at an effectiveness of more than 99% in trials performed by the ATCCR Laboratory, completed its IPO. Sonovia’s offering was oversubscribed, attracting a total of NIS 55.9 million ($18.5 m.), of which NIS 35 million ($10.7 million) will be liquidated in stocks to public investors to represent 25.9% of the company at NIS 9.15 a share. Sonovia raised an additional NIS 12 million ($3.7 m.) through a private offering.
- BladeRanger, a company that develops robotic systems for the autonomous, waterless cleaning and inspection of solar power installations, completed its IPO. The company carried out a book building offering, raising NIS 22.5 million at a company market cap of NIS 93 million.