Israel High Tech Scene Week In Review May 16 – 22


Israel High Tech Scene Week In Review May 16 – 22

Tel Aviv at sunset, Israel

New Startups / VC Funding
Israeli Startup Explorium Offers External Data Platform
The company just raised $75 million. Explorium, an Israeli startup, provides what it calls the first External Data Platform to improve Analytics and Machine Learning. By “dynamically” integrating a company’s internal data with thousands of external sources, the Explorium platform is able to extract the most relevant features and power superior machine learning models. The company just completed a $75 million Series C fundraising round led by global venture capital and private equity firm Insight Partners.

Israel’s Salto Offers Open Sources SaaS Solutions
It just raised $42 million. Salto is an Israeli startup which offers enterprise apps configuration, among other things. The company just raised $42 million in a Series B financing round led by Accel, with participation from existing investors Salesforce Ventures, Bessemer Venture Partners and Lightspeed Venture Partners

Twine Solutions Offers High Tech Thread Dying Solutions
The company Just Raised $28 million. Israeli startup Twine Solutions develops digital thread dyeing systems. The company just raised $28 million in an investment round, led by Menora, Meitav Dash, and Analyst.

Israeli Startup ThetaRay Offers Fintech/Cybersecurity Solutions
The company just raised $31 million. ThetaRay is an Israeli cybersecurity technology startup which enables the acceleration of cross-border payments between banks while protecting financial institutions from financial crime.

Aquarius Engines Unveils New Hydrogen Engine
Gasoline could soon be obsolete. Aquarius Engines (TASE: AQUA) has unveiled a new hydrogen engine that it boasts could someday make reliance on both hydrogen fuel-cells and fossil fuel a thing of the past. The tiny 10kg machine is based on the same technology as its original patented single-piston-linear-engine but operates exclusively on hydrogen.

IPOs and Unicorns
Monday.Com Makes It Official – Files For IPO
It expects a $4 billion valuation. Monday.Com, an Israeli startup which deals with management software, has filed a Form F-1 with the Securities and Exchange Commission (SEC) for an initial public offering. Last October JBN reported that Monday expected a $4 billion valuation from its IPO. But as of now there is no news as to what the company expects to raise or what share price it intends to charge.

Israeli Fintech Firm Sunbit Hits Unicorn Status With $1.1 Billion Valuation
It just raised $130 million. Sunbit, an Israeli startup which offers fintech solutions, has hit the coveted status Unicorn. The company now boasts a $1.1 billion valuation which it reached with a $130 million series D round of funding.

Israeli Startup Glassbox Looks To TASE IPO
It expects a $350 million valuation. Glassbox, an Israeli company that provides digital analytics for web and mobile applications, has filed for an initial public offering on the Tel Aviv Stock Exchange (TASE). According to a report in Globes, the company expects to raise $50-70 million from its TASE IPO which would give it a total valuation of about $350 million.

WalkMe Website Navigation Startup Files For NASDAQ IPO
The company also revealed its recent revenues. The Israeli startup WalkMe, provider of digital adoption solutions, has revealed its plans for an initial public offering to be held on the NASDAQ. The company has filled its Form F-1 with the U.S. Securities and Exchange Commission (“SEC”) relating to the proposed IPO of its ordinary shares. The number of shares to be offered and the price range for the proposed offering have not yet been determined. WalkMe has applied to list its ordinary shares on the Nasdaq Global Select Market under the ticker symbol “WKME.”

VC Funds
83North Closes New $550 Million Fund
83North says that while its companies are all about scale, its own operation is more of a boutique. Israeli Venture capital firm 83North Ltd. has raised $550 million for its sixth investment fund. The fund is intended for backing European and Israeli entrepreneurs. Globes says that this is the second largest such fund ever raised in Israel after a $750 million life sciences fund from aMoon.

Other Business Stories
Les Moonves Forfeits His $120 Million Golden Parachute
Moonves was fired due to sexual misconduct charges.

WhatsApp New Privacy Policies Now In Effect
The company also has new health stickers. WhatsApp has now implemented its long announced new privacy policy. Under its new rules the company reserves the right to share user data with its parent company Facebook. Users who refuse to sign the new user agreement will have their accounts deleted.

Spotify Now Available On Google’s Wear Watches
Google has also teamed with Samsung.

Mobileye Teams With Toyota For Driver Assistance Systems
Mobileye develops automated vehicle systems. ZF and Mobileye, an Intel company, have been chosen by Toyota Motor Corp. to develop advanced driver-assistance systems (ADAS) for use in multiple vehicle platforms starting in the next few years. As part of the agreement, ZF, one of the world’s largest producers of automotive cameras driven by Mobileye technology, will also supply its Gen 21 mid-range radar and be responsible for the integration of camera and radar in Toyota vehicles.

Read more about: , , , , , , , ,