Israel High Tech Scene Week In Review May 30 – June 5
Tel Aviv at sunset, Israel
New Startups / VC Funding
Israel Startup Nation Raises Almost $2 Billion For New Tech Companies In May
Adds two new unicorns. Israel is not called Startup Nation for nothing. In May 2021 alone its startups raised almost $2 billion in new capital. While this is short of the $2.2 billion raised in April, it is still quite a feat. So far in 2021 Israeli firms have raised roughly $8.6 billion, as estimated by Globes. In only the first five months of the year the country has almost matched its total intake of $10 billion for all of 2020.
SAM Seamless Network Is An Israeli Network Security Company For Consumers And SMBs
The company just raised $20 million. Israeli startup SAM Seamless Network is a network security/cybersecurity company for both consumers as well as small and mid-sized businesses – SMBs. It has raised $20 million in Series B funding. The company says that it will use the funds to enable its expansion of its security reach, from currently protecting 2 million networks and 70 million devices globally, to securing 10 million networks and 500 million devices by the end of 2021.
Israel’s DayTwo Offers AI Based Nutrition Prescriptions
The company just raised $37 million. DayTwo is an Israeli medtech startup which uses artificial intelligence to sequence the gut microbiome to create precision nutrition-based food prescriptions to balance blood sugar levels after meals. Its solutions are designed to improve the health of people with diabetes and other metabolic diseases. The company has raised $37 million from investors like aMoon of Marius Nacht and Dr. Yair Schindel, 10D of Yahal Zilka, and Cathay Innovation Ventures.
Venn Israeli Startup Offers Shared Neighborhoods — Raises $100 Million
The company just brought in another $60 million. Israeli startup Venn offers a special kind of real estate service. The company focuses entirely on neighborhoods. Venn just closed a $60M Series B round, bringing the company’s total funding to $100M, following the close of its $40M Series A round in 2019. The round was led by Group 11.
Gong Revenue Intelligence Platform Hits $7.25 Billion Valuation
Gong just raised $250 million. Gong is an Israeli company which uses artificial intelligence to transform revenue teams. Gong has raised $250 million in a Series E funding round led by Franklin Templeton. This brings the company’s total funding to $584 million, leaving Gong with a $7.25 Billion Valuation.
IPOs and Unicorns
NeuroRX Hits $1.5 Billion Valuation After SPAC Merger
The company is developing Covid meds. NeuroRx, Inc., an Israeli medical company, was approved by the Nasdaq for listing on the Nasdaq Global Market, following the completion of its business combination with Big Rock Partners Acquisition Corp. (Nasdaq:BRPA). The combined entity is called NRx Pharmaceuticals, Inc. and will trade on the Nasdaq Global Market as NRXP. The IPO was handled as an SPAC merger.
Israel’s Ad-Tech Company Tremor Files For $1.5 Billion IPO
The company already trades on the LSE. Tremor international Ltd., an Israeli ad-tech company, has filed for a NASDAQ IPO. The company expects to come away with a $1.5 billion valuation, reports Globes. Tremor is already listed on the London Stock Exchange (LSE).
Monday.Com Sees Possible $6 Billion Valuation From IPO
The company previously expected just a $4 billion valuation. Monday.Com is an Israeli startup which deals with management software. The company revealed specifics about its planned NASDAQ IPO today, Tuesday. It plans to offer 3.7 million shares at $125 to $140 apiece and private placements with Salesforce (NYSE:CRM) and Zoom Video Communications (NASDAQ:ZM). Monday will trade under the ticker MNDY and expects to be valued at up to $6.2 billion.
Mergers and Acquisitions
Israel’s Bizzabo Buys America’s X.Ai
The purchase price was not disclosed. Israeli events platform Bizzabo has acquired the American startup X.ai. X.ai developed a platform which automates meetings for people located across different time zones. It sends follow-ups and reminders, managing cancellations and setting new times. The purchase price was not disclosed.
Other Business Stories
Google Head Of Diversity Fired – Said Jews Are “Insatiable” For War
Kamau Bobb has been removed by Google from his position as head of global diversity strategy. The move came shortly after it was revealed that Mr. Bobb had made seriously anti-Semitic comments, including that Jews have an “insatiable appetite for war.”
Israel Aerospace Industries IAI Expects $4 Billion IPO
The company did well in 2020. Israel Aerospace Industries Ltd. (IAI) will hold an initial public offering (IPO) on the Tel Aviv Stock Exchange (TASE) with the selection of four underwriters to lead the flotation – Discount Capital, Poalim-IBI, Leader Capital Markets, and Barak Capital. According to a report in Globes, the company expects to come away with a $4 billion valuation.
IAI Signs A $200 Million UAS Services Contract With Asian Nation
The name of the country was not revealed. Israel Aerospace Industries (IAI) recently signed a $200 USD million contract to provide unmanned aerial systems (UAS) services to a country in Asia, relating to IAI’s Heron unmanned aerial vehicle (UAV). This is the fourth major UAS transaction that IAI has announced this year. The name of the country was not revealed.
