Israel High Tech Scene Week In Review May 2 – May 9

Tel Aviv at sunset, Israel

New Startups / VC Funding
Chunk Foods Is An Israeli Alternative Meat Startup
New Israeli startup Chunk Foods develops meat-alternatives. The company has raised $2 million in a pre-seed round led by Kansas firm Stray Dog Capital, Good Seed Ventures, and the MIT-affiliated E14 Fund. Chunk Foods leverages cutting-edge fermentation technology to produce whole-cut plant-based meat products. Stray Dog Capital declares that it is considered a pioneer in the alternative-protein sector and has invested in similar companies such as Beyond Meat, among others.

SavorEat Establishes EGG’N’UP For Plant-Based Egg Alternatives
Israeli food-tech firm SvaorEat, which offers plant based alternatives to meat, has announced its creation of a new subsidiary for the production of egg alternatives. The company is called Egg’n’up.

Vim Build’s Digital Infrastructure For Higher Performing Health Care – Raises $60 Million
Israeli startup Vim offers digital infrastructure and platforms for US health care providers. The company has raised $60 million from Walgreens, America’s second largest pharmacy chain, Boots Alliance (WBA), health insurance firm Anthem (ANTM), and Frist Cressey Ventures.

Israeli Startup Umoove Helps Clear Distressed Minds In A Blink Of An Eye
MindReset app currently includes treatments for depression, anxiety, chronic stress, trauma, chronic fatigue, and insomnia

Cymulate Offers SaaS Continuous Security Validation Platform – Raises $45 Million
Israeli cybersecurity startup Cymulate offers a SaaS based Continuous Security Validation platform. The company raised $45 million in a Series C funding round, led by One Peak, together with existing investors Susquehanna Growth Equity (SGE), Vertex Ventures Israel, Vertex Growth and Dell Technologies Capital. Cymulate has raised $71M to date, including a seed investment from Eyal Gruner.

Israel’s Pecan.Ai Offers Predictive Analytics – Raises $35 Million
Pecan.ai is an Israeli predictive analytics startup which utilizes artificial intelligence tech. The company just raised $35 million in a series B round led by GGV Capital. Cofounder and CEO Zohar Bronfman says that the funds will allow Pecan to expand its operations globally and help organizations adopt AI and big data.

IPOs and Unicorns
Israeli Video Startup Innovid Looks To $1.2 Billion IPO
It will do so in an SPAC merger. Innovid, an Israeli startup in the field of video advertising, is planning an initial public offering through a Special Purpose Acquisition Company (SPAC) Calcalist reports that the company expects a $1.2billion valuation from its IPO.

Fintech Firm Global-E Looks Too $3.5 Billion NASDAQ IPO
Fintech and cybersecurity startups are worth billions these days.Fintech Firm Global-E Looks Too $3.5 Billion NASDAQ IPO
Fintech and cybersecurity startups are worth billions these days.

Kaltura Ready For Another Try At An IPO
The company canceled a March IPO at the last minute.Kaltura, an Israeli startup which provides live and on-demand video SaaS solutions, has decided to try again for an initial public offering. The company has filed again for a NASDAQ IPO, but did not reveal the share price it was planning to charge and what total valuation the company was expecting.

HoneyBook Hits Unicorn Status Helping Freelancers Manage Small Businesses
The company is now worth $1.1 billion. Israeli startup HoneyBook which offers a platform for the financial management of small businesses and for self-employed people has hit unicorn status with a valuation of $1.1 billion. The company reached this milestone when it completed a $155 million Series D financing round led by Durable Capital Partners.

Mergers and Acquisitions
Israel Cybersecurity Co White-Hat Bought Out By EPAM For $50 Million
Cybersecurity firms are hot these days. White-Hat, an Israeli cybersecurity startup, has been acquired by EPAM Services Inc., an American digital platform engineering company. While the purchase price was not officially disclosed, Globes has cited sources as saying that it was around $50 million.

Valmont To Acquire Israeli Ag Tech Firm Prospera Technologies For $300 Million
Valmont Industries, Inc. (NYSE: VMI), a global provider of engineered products and services for infrastructure and irrigation equipment and services for agriculture, has entered into a definitive agreement to acquire Israeli ag tech company Prospera Technologies Inc., a privately-held Israeli-based AI company, focused on ML and CV in agriculture.

Israel’s Simplex Fintech Firm Acquired By Nuvei For $250m Million
Nuvei Corporation (TSX: NVEI and NVEI.U), the global payment technology partner of thriving brands, entered into a definitive agreement to acquire SimplexCC Ltd., an Israeli fintech startup which provides the fiat infrastructure to the cryptocurrency industry, for approximately $250 million to be paid in cash.

Nano Dimension Acquires NanoFabrica For $60 Million
Nano Dimension, an Israeli company in the 3D printed electronics (Additively Manufactured Electronics (AME)/PE) field, has bought out fellow Israeli company NanoFabrica Ltd. a developer of new technology and turn-key systems for precise 3D-micro-printing (or precision additive manufacturing)

Israeli Cybersecurity company Imperva has revealed that it plans to acquire application programming interface (API) security company CloudVector. The acquisition price has yet to be disclosed.

Wix Acquires Israeli Internet Greeting Card Startup Rise.Ai
Israel’s highly successful do it yourself website hosting service Wix (Nasdaq: WIX), a leading global SaaS platform to create, manage and grow an online presence, has just acquired Israeli startup Rise.ai, the gift card and customer re-engagement solution for online brands.

Other Business Stories
Israeli Insurance Company Migdal Invests $355 Million In $355 Million In Global Energy Generation Doral LLC
Doral has solar power projects.

Nir Zuk On Setting Up New Digital Bank In Israel
He founded cybersecurity behemoth Palo Alto Networks. This would be the country’s second digital bank. Zuk only recently moved back to Israel after 20 years in California.

Payoneer Teams With EBay On International Payments

Israel’s Payoneer Inc., a global payment and commerce-enabling platform is now collaborating with eBay to enable sellers in select countries to get paid for their sales on eBay’s core marketplace.
Payoneer made the deal as it looks to a $3.3 billion IPO.

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