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Tech Buzz: Reali raises $250m.

CM 19/08/2021

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The heat of August hasn’t slowed the Start-Up Nation, which continues to score new investments and exits at a record pace.
Israeli companies have raised some $15 billion in the first seven and a half months of the year, far surpassing all previous records. Last year, Israeli companies raised $10.5b., which was a record amount then.
Real estate and fintech company REALI said Wednesday evening that it closed $250 million in new financing in a round led by Zeev Ventures. The Tel Aviv-based company aims to create a one-stop shop to make homeownership simple by offering a wide range of financing solutions so that customers can buy and sell in one coordinated transaction. Reali claims that its users save an average of $16,000 when buying a home. The funding round includes $75m. in equity, $25m. in venture debt, and $150m. in warehouse financing. The company, founded in 2015, has now raised a total of $300m.

Fintech Start-ups: The Creative Fixers (credit: Courtesy)Fintech Start-ups: The Creative Fixers (credit: Courtesy)
Jerusalem-based stroke therapy technology start-up BRAINQ raised $40m. in a round led by Hanaco Ventures, bringing its total funding to over $50m. BrainQ’s cloud-based technology aims to reduce disability and promote neuro-recovery for stroke victims, from which 50-70% of survivors currently sustain chronic disability. Earlier this year, BrainQ received FDA Breakthrough Device Designation for its investigational stroke therapy, which provides the company with the opportunity to work closely with the FDA to expedite development plans. The funding will be used to support the company’s upcoming trial for ischemic stroke survivors in hospitals across the United States, as well as to continue building toward a go-to-market plan.
BROWZWEAR, which makes 3D digital solutions for the fashion industry, closed a $35m. funding round from growth equity firm Radian Capital. The Ra’anana-based company has grown 40 percent year-over-year in each of the past 5 years, and expects that the new capital will help it achieve a 150 percent growth rate for the next two years. Browzwear has more than 650 customers worldwide, including top brands like Walmart, Lululemon, Columbia Sportswear, Nike and others. To support this accelerated growth, Browzwear is instituting an aggressive recruitment plan that will increase its global workforce by 200%, the company said.
Among other fundraising rounds, support group platform CIRCLES raised $8m. in seed funding; RETRAIN.AI, an AI-based platform to help companies and government agencies keep employee’s skills updated, raised $7m.; 3D printing company CASTOR raised $3.5m. in seed funding in a round led by Xerox; and fintech company QIRA raised $8m. ahead of its planned IPO on the Tel Aviv Stock Exchange.
In acquisition news, GLOBAL DATA CENTER, a Herzliya-based data center operator, was acquired by US data center solutions provider EdgeConneX. The value of the deal was not revealed, but sources estimated it around $200m. The deal will bring GDC’s highly secure underground facilities in Herzliya and Petah Tikva into the EdgeConneX global data center platform, which includes 50 data centers in over 40 markets around the world. GDC was founded in 2013 with the financial backing of private equity investment firm Viola Group.
WEAV, which offers a universal API for commerce platforms, was acquired by US fintech company Brex for $50m. Weav was founded just last year in Ramat Gan, and raised $4.3m. in April. Brex offers credit cards, business cash accounts, spend management and bill pay software together in a single dashboard, and Weav’s technology will accelerate the connectivity of the Brex platform and improve Brex’s ability to serve customers in many different industries. Brex will use the acquisition to establish an innovation hub in Israel, it said.
Finally, OVERWOLF, a platform that enables creators to build, distribute and monetize in-game apps and mods, announced the launch of its $50m. Overwolf Creator Fund dedicated to community-created experiences in gaming. The new fund will support the work and projects of in-game app creators, mod authors, as well as game studios that plan to integrate mods into new titles, the company said.

Source: Jerusalem Post

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