News Briefs

August 31, 2015 | The Israeli cellular technology company Cellebrite announced that it signed an agreement to provide Vodafone with solutions in diagnostics and cellular data worth $10 million. Vodafone is a long-time client of Cellebrite’s and the latest deal will simply increase the number of services that Vodafone will receive. In addition, Cellebrite will work on projects and provide support in all of the countries that Vodafone operates. Cellebrite was founded in 1999 by Yossi Carmil.

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August 31, 2015 | The Israeli cyber security company ForeScout is set to issue an IPO on NASDAQ. Though the amount that ForeScout plans to raise, as well as the company value, were not revealed, ForeScouts CEO Mike DeCesare stated to Bloomberg that the company hopes to reach $150 million in revenues this year. The current market has seen a rise in the value of cyber security stocks, including Israeli company CyberArk’s, which ForeScout reportedly hopes to maximize on. ForeScout was founded in 2000 and is based in Campbell, California.

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August 31, 2015 | A new center for digital innovation in health has been inaugurated at the Gav Yam Technology Park in the Negev. The Center for Digital Innovation (CDI), as it is called, is tasked with the creation and development of technologies in the digital health sector together with the nearby Ben Gurion University. The CDI will also provide startups a location to work from, as well as laboratories and health databases, among other services. CDI will act as a company for the benefit of the public.

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August 31, 2015 | The flash memory storage company SanDisk announced that the company seeks to hire 90 additional employees in Israel. New potential employees will join SanDisk’s R&D team, in fields ranging from validation to firmware engineers. SanDisk, which acquired Dov Moran’s USB flash drive technology in 2006, currently employs 650 in its three locations in Israel: Tel Aviv, Omer and Tefen.

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August 31, 2015 | The Vietnamese company VinGroup’s subsidary VinEco has begun the construction of the largest greenhouse in Vietnam using Israeli technology. The 24.5 hectare greenhouse in the northern Vinh Phuc province will be the largest in Vietnam and is expected to provide 3,500 tons of fresh vegetables every year. Teshuva Agricultural Projects (TAP), an Israeli company, is VinEco’s partner in the construction of the project and will also provide its Microgreen technology to produce hygienic sprouts. This is TAP’s first project in Vietnam.

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August 30, 2015 | According to reports, McCann Erickson will increase its investment in the Israeli venture capital firm TheTime by $10-$15 million. The funds will be used by TheTime to invest in Israeli startups and companies. Previously in control of 11 percent of the company, the global marketing and advertising firm will increase its share with the investment to between 25-30 percent. TheTime is controlled by Ilan Shiloach together with Nir Tarlovsky and Uri Weinheber.

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August 30, 2015 | The Israeli cyber security company Safe-T submitted a prospectus with the Israel Securities Authority and the Tel Aviv Stock Exchange for a $15 million IPO. The value the company is attempting to raise is higher than previous estimates and would value the company at $70 million before money. The underwriter for the IPO is Clal Finance Underwriting. Safe-T was founded in 2007 by Chief Software Officer Amir Mizhar.

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August 30, 2015 | The Israeli predicative machine diagnostics company Augury announced that it raised $7 million in Series A funding. The round was led by Formation 8 Hardware Fund together with Pritzker Group Venture Capital and existing investors First Round Capital and Lerer Hippeau Ventures. The funding will be used by the company to accelerate its product development, to expand sales and marketing and to support the company’s growth. Aurgury was founded in 2011 by Gal Shaul and Saar Yoskovitz and has offices in Haifa and New York.

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August 30, 2015 | The Israel-based venture capital firm and incubator Trendlines Group has opened a branch in Singapore. Trendlines hopes to help Singaporean medical technology companies develop their product for commercialization in larger markets, like the United States and China. In addition, there are reports that Trendlines Group is interested in issuing an initial public offering on a Singapore Exchange in November, which would value the company at between $80-$100 million. Trendlines Group was founded in 2007 and has about 50 startups in its portfolio of medical and agricultural technology companies.

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August 30, 2015 | The Nigerian Federal Government announced plans to partner with Israel to address water and environmental challenges in the country. The decision regarding the agreement was taken at a joint conference between the Israeli Embassy in Nigeria and the ministries of water management and the environment. The Nigerian government expressed interest in Israel’s desalination technology as well as other water management and irrigation technologies. Israel and Nigeria reestablished diplomatic relations in 1992.

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August 27, 2015 | The Israeli ocean wave energy company Wave Energy Renewal Power Ocean (WERPO) announced that it has entered into a venture with Help Mankind to set up wave-based power plants in Sri Lanka. As part of the agreement, WERPO will construct a number of wave-based power plants throughout Sri Lanka, with WERPO responsible for the technical matters and construction of the product. WERPO was founded in 2014 together with existing wave power-generating firm SDE. WERPO now holds the rights for SDE’s technology, property, IP, contracts and subsidiaries.

 

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August 27, 2015 | The Israeli-created app for storing and managing documents, Docady announced that it raised $1.5 million in funding. Pitango Ventures, Disruptive VC, Eilon Tirosh and others participated in the funding round. Docady will use the funding to expand the app’s presence to Android and to develop additional features. Docady was founded in 2014 by Nadav Naaman.

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August 27, 2015 | According to reports in “TheMarker”, Itamar Medical, an Israeli biomed company, announced that Viola Private Equity will invest $28.4 million in the company. As a result of the deal, Viola is set to become the largest shareholder in Itamar Medical. Viola will attempt to accelerate Itamar’s growth and to maximize the potential of its medical products. Itamar Medical was founded in 1998 and is based in Caesaria, Israel.

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August 27, 2015 | The hybrid cloud software provider Velostrata announced that it raised $14 million in Series A funding. The round was led by Norwest Venture Partners together with Greylock IL (83North). The company reportedly plans to use the funding to continue the development of its product and to grow its sales, marketing and support teams in the United States and Europe. In addition, the company released its product from stealth mode. Velostrata was founded in 2014 by CEO Issy Ben-Shaul and Chief Product Officer Ady Degany. The company is headquartered in San Jose, California.

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August 27, 2015 | The Israeli startup DiACardio took first place in a global innovation startup competition held in Beijing. DiACardio develops software that helps improve the reading and analysis of echocardiograms. As winners of the competition, DiACardio received a cash prize of $200,000 as well as the opportunity to meet with some of China’s largest tech companies, including Alibaba, Tencent, Baidu and Xiaomi. DiaCardio was selected from 21 finalists in the competition, three of which were Israeli startups. DiACardio was founded in 2009 by Hila Goldman-Aslan.

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