July 20, 2017 | DataRails, an Israeli startup that is upgrading Excel into a smart organizational tool for businesses, has completed a $6 million series A funding round, led by Vertex Ventures. Founded in 2015 by Didi Gurfinkel, Eyal Cohen, and Oded Har-Tal, DataRails is a cloud platform that allows businesses to more efficiently manage, organize, and share data on Excel. The company plans to use the investment to improve product development, develop a worldwide customer portfolio, and establish offices in New York. The latest round brings DataRails’ total funding up to $7 million.
July 20, 2017 | Israeli startup and high-tech companies raised $1.3 billion in the second quarter of 2017 – the second largest amount in five years, according to a report by IVC Research Center and ZAG S&W International Law Firm. Similarly, the average financing round hit $8 million which is second only to the exceptional second quarter of 2016, when the average was $8.8 million. These record-setting numbers were attained because deals above $20 million rose in 2017’s second quarter with 21 deals accounting for 55 percent of the total amount. The life sciences sector is responsible for raising the most capital during the first half of 2017, with a whopping $622 million. Venture capital-based deals attracted more capital than usual, up 12 percent from the quarterly three-year average.
July 20, 2017 | The British Council and British Embassy in Israel have announced the achievements of the multi-million-pound program BIRAX (Britain-Israel Research Academic Exchange), which develops scientific collaboration between Israel and the UK. Launched by the prime ministers of the UK and Israel in 2011, BIRAX has brought together more than 1,000 scientists from 120 institutions, and resulted in breakthrough research published in 30 leading scientific publications. The report on the five-year program shows that the fund has invested £7 million in 15 joint research projects in the field of regenerative medicine.
July 20, 2017 | Qumra Capital, an Israeli capital growth fund, has raised $115 million for a new fund called Qumra Capital II. Founded in 2012 by Boaz Dinte, Sivan Shamri, and Erez Shachar, Qumra Capital provides venture funding for late-stage technology companies that are seeking to boost sales and marketing. The funds were derived from Qumra I investors, and they will be used to provide investments in Israeli companies to come. So far, Qumra Capital has raised $215 million.
July 19, 2017 | Israeli venture capital firm Pitango Venture Capital is set to profit significantly from Symantec’s $250 million acquisition of Israeli mobile security startup Skycure. One of Israel’s leading venture capital firms, Pitango has a 31 percent stake in Skycure and has been an investor in the company since its seed stage. Pitango was founded by Rami Kalish, Aharon Dovrat, Chemi Peres and Habib Hazzan. It has raised $1.97 billion since its inception in 1993. The acquired startup, Skycure, is an Israeli company that protects against mobile cyber-attacks; it was acquired by Symantec earlier this month.
July 18, 2017 | Algomizer, an Israeli startup that creates online marketing tools for small to midsize companies to advertise efficiently, has raised more than $11 million. Founded in 2013 by Aviv Berkovich, the company began to be traded on the Tel Aviv Stock Exchange in 2014. Forbes recently ranked Berkovich as one of Israel’s most promising young people. The influx of funds from various investors will be used to acquire a private Internet advertising company.
July 18, 2017 | Israel’s Therapix Biosciences, a pharmaceutical company dedicated to the development of medicinal marijuana, has signed a memorandum of understanding (MOU) with CURE Pharmaceutical to enter a research collaboration with Assuta Medical Center, Israel’s largest private medical services center. The companies will collaborate to advance, research, develop and commercialize potential therapeutic products in the fields of personalized medicine and cannabinoids. Therapix Biosciences is a publicly traded company founded in 2004 and is headed by CEO Elran Haber.
July 17, 2017 | The multinational cyber security company Symantec is acquiring Israeli startup, Skycure, which predicts and protects against mobile cyber-attacks without jeopardizing user privacy. Terms of the deal were not disclosed. Using crowd intelligence and machine learning, the startup’s technology defends against malware, network-based threats, and external and internal attacks. Founded in 2012 by Unit 8200 veterans Adi Sharabani and Yair Amit, the startup has raised $27.5 million in three funding rounds to date.
July 17, 2017 | Rapid Medical, an Israeli company that develops neurovascular interventional devices, raised $9 million in a Series B financing round. Founded in 2008 by CEO Ronen Eckhouse and Chairman of the Board Shimon Eckhouse, Rapid Medical is seeking to further commercialize TIGERTRIEVER Revascularization Device and the COMANECI Adjustable Remodeling Mesh, products which provide prevention and minimally invasive stroke treatment. Israel’s BRM and China’s Shanghai-Israel Investment Fund led the round, while Winnovation and Gefen Capital participated. [Photo: Courtesy]
July 17, 2017 | Vroom, an Israeli online platform for automobile retail, announced a $76 million series F funding round led by T. Rowe Price Associates, L Catterton, General Catalyst Partners and PICO Venture Partners. Since its founding in 2013, Vroom has raised $295 million. It is currently led by CEO Paul Hennessey, with R&D operations in Israel. [photo by Emilio Labrador]
July 16, 2017 | Israeli robotics company Intuition Robotics has raised $14 million in a Series A round led by Toyota Research Institute. Founded in 2015 by Itai Mendelsohn, Dor Skuler, and Roy Amir, Intuition Robotics has developed a robot companion that uses artificial intelligence to improve the lives of the aging population. Named ElliQ, the small tabletop robot can suggest content to watch, give reminders about appointments, and set up chats with friends, among other functions. In total, the company has raised $22 million in three funding rounds.
July 16, 2017| Genoox, an Israeli genetic data analysis startup, has raised $6 million from Inimiti Capital Partners and Glilot Capital Partners. Founded in 2014 by CEO Amir Trabelsi and CTO Moshe Einhorn, Genoox created software that uses machine learning to analyze genetics and predict diagnoses. The software thus accelerates data interpretation, allowing clinicians to develop actionable insights more quickly. The company already has a strong presence in Israel and the UK; the funding will be used to expand in the US.
July 16, 2017 | A program launched by the Israeli Innovation Authority will invest$20 million in high-risk research and development projects conducted by Israeli companies that have an annual turnover of over $100 million. The initiative will offer grants of up to 50 percent of the costs of R&D projects that have a high chance of failure, termed ‘crazy R&D’ by IIA growth division acting director Sagi Dagan. In doing so, the IIA hopes to facilitate the development of technologies for the future that will give the companies a competitive edge. Companies that are eligible for the R&D grants include Check Point Technologies ltd., Mobileye, and Wix.com.
July 16, 2017 | Waycare, an Israeli startup that uses deep learning technology to create safer roads, has teamed up with the Regional Transportation Commission of Southern Nevada to launch a pilot program that helps prevent crashes and improve traffic. Waycare has raised $515,000 since its founding in 2015 and is led by CEO Noam Maital.
July 13, 2017 | Israeli cloud workload management startup Spotinst has raised $15 million in a Series A funding round led by Intel Capital and Vertex Ventures. The funding will help Spotinst grow and get closer to its vision of becoming “a cloud of clouds.” The company was founded in 2015 by CEO Amiram Shachar, Chief Architect Liran Polak, and CTO Aharon Twizer. This financing round brings the company’s total equity funding to $17.6 million.
July 13, 2017 | Israeli cybersecurity startup Deep Instinct has completed a $32 million Series B funding round led by CNTP. Founded in 2014 by Guy Caspi and Eli David, Deep Instinct uses deep learning for cybersecurity. The company’s solution protects against zero-day threats and APT attacks with high accuracy, and is able to identify malware from any data source in real-time. The World Economic Forum recently named Deep Instinct a ‘Technology Pioneer,’ and NVIDIA’s 2017 Inception Awards labeled it ‘Most Disruptive Startup.’
July 13, 2017 | OwnBackup, an Israeli cloud-to-cloud backup and restore vendor, has raised $7.5 million in a Series B funding round led by New York-based private equity and venture capital firm Insight Venture Partners. The new funding will help the company expand and speed product innovation. OwnBackup has now raised more than $11 million since its founding in 2012 by Ariel Berkman and Eran Cohen.
July 13, 2017 | Gong.io, an Israeli startup that uses natural language processing and machine learning to better sales and customer service, has raised $20 million. To date, Gong.io has raised $26 million. Investors Norwest Venture partners, Shlomo Kramer, Wing Venture Capital, and NextWorld Capital contributed to the round. Gong.io was founded in 2015 by Eilon Reshef and Amit Bendov. The new funds will benefit sales development and talent procurement.
July 13, 2017 | The Israeli Ministry of Finance and the Israeli Securities Authority have issued a tender to find managers for four new high-tech funds. Set to be listed on the Tel Aviv Stock Exchange (TASE), the funds will have a minimum of $113 million in investments. The state has agreed to protect investors’ losses and allow pension savers to participate, with the goal of promoting investments within Israel.
July 13, 2017 | Israeli Prime Minister Benjamin Netanyahu and Indian Prime Minister Narendra Modi have signed an agreement to create the Israeli-India Innovation Initiative Fund. The fund will be a platform for diverse technological cooperation between the two countries, leveraging the technological strengths of both nations. Each country will allocate $4 million annually over a five-year period for the fund’s activities. The fund will be run by the Israel Innovation Authority and the parallel executive agency under the auspices of the Indian Ministry of Science and Technology.
July 12, 2017 | WeWork raised $760 million, which puts the company’s valuation at $20 billion, according to Forbes. Founded in 2010 by Miguel McKelvey and Adam Neumann, WeWork is a co-working space company that will use the latest Series G financing round to expand its locations. Currently, WeWork offers office space in 15 countries and 49 cities. Thus far, the company has raised $1.7 billion from investors such as Alef, J.P. Morgan, Benchmark, and Goldman Sachs.
July 10, 2017 | Israeli high-tech exits in the first half of 2017 reached a five-year low, both in terms of deal number and in total amount. In 57 deals worth a total of $1.95 billion, the average exit deal for 2017 so far is $34 million, compared to 2016’s exit average of $87 million. A likely explanation is the taxation and regulatory changes in the US and China, which alter the amount businesses can spend outside of the country.
July 10, 2017 | Nearly a quarter of the technology startups that the Wall Street Journal references in its must-watch tech list are Israeli. Three of the six listed Israeli companies operate in the cyber security realm, a field that the “Startup Nation” dominates, second only to the United States. The entire list only includes a total of four cyber security startups, confirming Israel’s supremacy in the field. These companies have raised significant funds; Cybereason $100 million, Illusive Networks with $30 million, and Argus Cyber Security with $30 million thus far. The remaining three Israeli startups occupy places in the ride-sharing, fintech, and social media industries with Via, Lemonade, and Life On Air respectively. Via has raised $137 million while Lemonade has raised $60 million.
July 9, 2017 | Israeli cyber security startup Fireglass has been acquired by the international firm, Symantec Corp. The exact amount is undisclosed, although there are suggestions that the deal is worth $250 million, according to Globes. Fireglass eliminates malware, ransomware and phishing threats by isolating the user devices from content and access points that could be harmful. Founded in 2014 by Guy Guzner and Dan Amiga, the startup has previously raised $20 million in one funding round.
July 9, 2017 | According to Globes, Israeli startups raised more than $400 million in June. In the first half of 2017, the companies have raised almost $2 billion which is just below last year’s record total. Cybereason, an Israel cyber security company, raised the most last month with a $100 million financing round. Many other startups have similarly closed impressive rounds such as the image recognition company Trax raising $64 million and Eloxx Pharmaceuticals raising $6 million.