Israel High Tech Scene Week In Review Apr 11 – 17
New Startups / VC Funding
Talon Cyber Security Offers Cloud Protection Services
The company raised $26 million in seed money. Israeli startup Talon Cyber Security develops cloud infrastructure-based cyber security technology. The company just raised a $26 million in seed funding Lightspeed Venture Partners, Team8 Capital.
Memic Innovative Surgery Specializes In Robot Assisted Surgery Tech
The company just raised $96 million. Israeli medtech startup Memic Innovative Surgery is a medical device company which develops new technology for robot-assisted surgery. The company just closed a $96 million Series D round of financing. The financing round was led by Peregrine Ventures and Ceros with participation from OurCrowd and Accelmed.
Israeli Startup DoControl Offers Automated SaaS Security Solutions
The company just raised $10 million. DoControl is an Israeli cybersecurity startup which offers a fully automated SaaS (software as a service) security platform, which it states provides data access monitoring, orchestration, and remediation across major SaaS applications, such as Google Drive, Box, Microsoft OneDrive, Salesforce, Slack, Jira, BambooHR, GitHub and more. The company just raised $10 million in Series A funding, led by Datadog investor RTP Global.
VidiPlus Offers New Video Conferencing Tech Like Zoom
The company has released its new platform. New Israeli startup VidiPlus offers a new platform for video conferencing. The company has released its cross-platform, virtual presentation software for video conferencing. VidiPlus says that the platform allows sales and marketing professionals in any industry to offer a “more engaging virtual meeting communications experience.” So Zoom, which has become popular during the Covid lockdowns, may just have a new competitor.
Israeli Startups Capital Raising Skyrocketing To Record $5.37 Billion In First Quarter Of 2021 (Calcalist)
The fund raised increased by 89% compared to the fourth quarter of 2020 and doubled the sum raised in Q1 of 2020
Minute Media gave fans their content fix during sports’ darkest days (Calcalist)
Covid-19 saw a surge of new users flock to the company’s platforms, which are redefining the meaning of fan engagement
IPOs and Unicorns
Israeli Startup Autotalks Looks To $2 Billion IPO
Yet another billion plus exit for Startup Nation. Autotalks, and Israeli startup which develops V2X solutions for use in smart cars, is looking towards a NASDAQ IPO. Citing sources in the company, Israel’s Globes newspaper has reported that Autotalks expects to reach a $2 billion valuation as part of an SPAC merger.
Vertical Field Agrotech Startup Headed To IPO
The company develops vertical gardens and fields. Israeli aggrotech startup Vertical Field is looking to hold an IPO in Canada. According to Globes, Vertical Field will go public on Toronto’ s TSX Venture Exchange after a merger with a CPC (capital pool company) which is a vehicle similar to a SPAC.
Israeli Chipmaker Valens Expects $1 Billion IPO
It will do so through an SPAC. Valens is an Israeli provider of semiconductor products. Valens expects to hit a $1.2 billion valuation when it goes public. This according to a report in Calcalist.
Other Business Stories
IAI To Provide Sea Serpent Missiles To UK’s Royal Navy
It will work with UK firm Thales. Israel Aerospace Industries (IAI) will offer SEA SERPENT missiles to the Royal Navy’s Type 23 frigates. This is an anti-ship and anti-surface missile that can “match and overmatch a rapidly expanding range and intensity of current and emerging threats.” IAI will team with UK firm THALES on the project.
Tipalti buys Approve.com in all-Israeli fintech merger (Globes)
Financial terms were not disclosed. Approve provides cloud procurement solutions. Israeli payables automation platform Tipalti has announced the acquisition of Approve.com, a cloud procurement solutions provider, to expand its portfolio of financial operations offerings.
StorageDrop appoints Gadi Eizenkot as chairman (Globes)
Former IDF Chief of Staff Gadi Eizenkot will serve as chairman of the Israeli energy storage company. Israeli green energy company StorageDrop has notified the Tel Aviv Stock Exchange (TASE) that former IDF Chief of Staff Gadi Eizenkot has been appointed chairman of the board of directors of the company. This is Eizenkot’s first managerial position in the business sector, since finishing his term as the Chief of Staff.
Russia’s Perekrestok Supermarkets To Use Israel’s Evigence Sensors For Freshness Monitoring Labels
10 Million “Green Dot” labels will be used in the stores. Israel’s Evigence Sensors’ tech will be used by Russia’s Perekrestok supermarket chain to implement the large-scale use of the Green Dot labelling system for monitoring product freshness. Ten million labels will be placed on items from the X5 Smart Kitchen assortment of ready-to-eat and ready-to-cook foods, making it the largest rollout of this technology in Europe.
Satcom wins contract from West African country (Globes)
The contract for the supply of advanced satellite systems is worth $700,000. Satcom Systems Ltd. (TASE: STCM) has won a contract with a government agency in West Africa for the supply of advanced satellite systems including a hub. The deal is worth $700,000 plus $130,000 for maintenance of the hub for 28 months.
Abu Dhabi Investment Office officially launches in Israel (Calcalist)
Prior to the launch event, ADIO Israel held a series of virtual meetings between senior executives and entrepreneurs in the Health Services and Biopharma sector from both markets over the course of four days