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Tech Buzz: Israeli companies raise another $250m.

CM 26/08/2021


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Start-Up Nation companies continue to rack up new investments at a record pace.
Israeli companies have raised more than $15 billion thus far in 2021, and are on pace to break $20b. for the year.
Last year, Israeli companies raised $10.5b., which was a record amount then.

UPSTREAM SECURITY said it completed a $62m. Series C round led by Mitsui Sumitomo Insurance. That figure includes the $36 million that Upstream said it had raised in May, and brings its total funding raised to $105m. The company’s cloud-based cybersecurity and data analytics platform uses data stored in connected vehicles to provide actionable insights, and already protect millions of vehicles against cyber threats.
MONTE CARLO said it raised $60 million in Series C funding led by Iconiq Growth. The company, which helps companies find problems with their data infrastructure, already raised $25m. earlier this year. The funding will help the two-year-old Tel Aviv-based company further develop its product offerings and expand to new markets.
VISIC TECHNOLOGIES, a maker of high-power automotive solutions, said it raised $35m. in a round led by GoldenSand Capital and HG Semiconductors. The 11-year old company develops Gallium Nitride (GaN) to power electric transportation products. The company intends to use the funds to expand its operations and marketing, it said.
BALANCE, a B2B payments platform raised $25 million in Series A funding led by Ribbit Capital, after the company raised $5.5m. in seed funding in February. While retail eCommerce companies like Amazon and Shopify have created seamless online checkout experiences, 92% of B2B transactions are still done offline, the company said. The year-old company says it offers full infrastructure support for B2B marketplaces, with full payment controls, escrow capabilities, other market needs.
SAYATA, a marketplace allowing insurance brokers and carriers to be able to offer more insurance policies quickly, said it raised $17m. in series A funding that will drive expansion into several new insurance lines. Since launching in February 2020, Sayata has seen consistent growth, doubling gross written premium every quarter to date, the company said. The round was led by Team8 Capital and Vertex Ventures.
Beersheva-based DIA IMAGING ANALYSIS, which makes advanced AI-based solutions for ultrasound analysis, said it raised $14 million, bringing its funding total to $25m. The company, founded in 2009, said the funds will enable it to expand the company’s portfolio of FDA-cleared and CE-marked AI-based ultrasound solutions that enable clinicians to identify clinical abnormalities. Additionally, the company will pursue new and expanded partnerships while continuing to grow its global presence in Asia, Europe, and the US, it said.
Artificial intelligence (credit: INGIMAGE)Artificial intelligence (credit: INGIMAGE)
VEEGO SOFTWARE said it raised $13 million in a Series A round led by Magenta Venture Partners. The Ramat Gan-based company’s technology monitors online user engagement in connected homes to make sure that each device gets the right user experience.
ANTIDOTE HEALTH raised $12m. in seed funding for its virtual HMO, a hybrid digital health and fin-tech solution for the estimated 38 million Americans who currently don’t have any form of medical insurance. The round was led by iAngels, Welltech Ventures and Flint Capital. The company currently has 50 doctors and over 30 employees and is headquartered in New York with an R&D center in Tel Aviv.
CORNEAT VISION raised $4m. from the Guangzhou Sino-Israel Biotech Investment Fund. The Ra’anana-based company made headlines around the world earlier this year when its artificial cornea was implanted in a surgery, helping a 78-year old blind man got his sight back in the first such operation in the world. The investment will help expand CorNeat’s activity in the Chinese market.
HR-Tech startup ELOOPS, which has developed a platform to boost employee engagement and enhance the workplace experience, said it raised $2 million in a Seed round. The company’s platform encourages more interaction between employees using virtual currency that can be redeemed for rewards like gift cards, branded swag of their organization, and experiences such as being the boss for a day or even throwing a pie in the face of one of their VPs. The Tel Aviv-based company was founded in 2017, and counts among its customers Estee Lauder, Coca-Cola, Captain D’s, Carlsberg, Hertz, EY and more.
In the acquisitions scene, business search company Elastic said this week it acquired Tel Aviv-based BUILD.SECURITY for an undisclosed sum. The publicly-traded company will set up an R&D center in Israel following the deal, which insiders estimate is worth tens of millions of dollars. 

Source: Jerusalem Post

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CM

The host of Coffee Mouth Scare Crow Show and CEO of 452 Impact, Inc. Here is food for thought. Romans 6:23 "For the wages of sin is death; but the gift of God is eternal life through Jesus Christ our Lord." John 3:16 "For God so love ed the world that he gave his only begotten Son, that whosoever believeth in Him shall be saved."

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