Deal Digest November 2020

 

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

 

This November we tracked 49 announced deals totaling at approximately $2 Billion, 7 IPOs of approximately $364 million and 5 acquisitions of approximately $193 million

Healthcare and Insurtech were the two top performing sectors this month. Novocure, a global oncology company striving to extend survival in some of the most aggressive forms of cancer, announced the closing of its previously announced offering of $575 million aggregate principal amount of its 0% Convertible Senior Notes due 2025, which includes the exercise in full by the initial purchasers of their option to purchase an additional $75 million aggregate principal amount of notes, in a private offering. Hippo, an insurtech company Hippo Enterprises Inc. has received a $350 million investment, doubling its previous total funding. The massive capital investment was made by Japan’s Mitsui Sumitomo Insurance Company, Limited, a subsidiary of MS&AD Insurance Group Holdings, Inc. Hippo analyzes data from municipal building records, satellite imagery, and smart home devices to enable customers to instantly qualify for coverage. The company also monitors the insured assets and lets users know when repairs or weather protections are needed.

On the M&A side, Voca.ai, a company which has developed technology that seeks to change the call center industry by introducing AI-based virtual programs they call Voca Agents that combine the capabilities of human agents with the latest developments in AI to improve the way companies communicate with users, is being acquired for $70 million by Snap Inc., the parent company of Snapchat. Also, Ecoppia, a solar O&M solutions provider, has launched an initial public offering after securing more than $82.5 million through a public tender phase. The tender secured US$82.5 million from institutional investors, valuing the company at US$300 million, Ecoppia said. The tender was oversubscribed, with Ecoppia receiving expressions of interest totalling US$144.75 million received from institutional investors. Public demand within the tender phase was also oversubscribed with US$76.74 million of interest recorded despite just US$1.5 million of allocated shares. Ecoppia is now to list on the Tel Aviv Stock Exchange.

 

Seed Round

 

 

 

 

 

 

 

 

A Round

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

B Round

 

 

 

 

 

 

 

 

C Rounds

 

 

 

Growth/Misc. Rounds

 

 

M&A/IPO