Israel High Tech Scene Week In Review May 23 – 29

Tel Aviv at sunset, Israel

New Startups / VC Funding
Solidus Labs Offers Financial Risk Monitoring Services
The company monitors cryptocurrencies. Israeli startup Solidus Labs works to fight manipulations in cryptocurrency trading. The company raised $20 million in a Series A round led by Evolution Equity Partners and included Hanaco Ventures, which led the startup’s $3.75 million seed round in early 2019.

Israeli Startup Arugga Offers New Robots For Agricultural Development
It can even mimic bees. Arugga is an Israeli startup developing an autonomous robot for treating and monitoring individual plants in greenhouses. The company just completed a $4 million series A funding round led by Smart Agro, an agri-tech R&D partnership traded on the Tel Aviv Stock Exchange.

Israeli E Commerce Startup Forter Now Hits $3 Billion Valuation
It just raised another $300 million. Forter, an Israeli firm that specializes in e-commerce fraud prevention, just reached a valuation of $3 billion, outperforming itself, so to speak. Just last November the company hit the coveted unicorn status with a $1.25 billion valuation after a $125 million round of fundraising. The new valuation comes after it raised $300 million in Series F funding round led by Tiger Global Management, with participation from Third Point Ventures and Adage Capital Management.

Video Company AnyClip Offers First AI-Powered Platform For Business – Raises $47 Million
It calls itself “The Visual Intelligence Company.” AnyClip is an Israeli startup which calls itself “The Visual Intelligence Company.” The company just raised $47 million led by JVP. It is now introducing its expanded AnyClip platform “ushering in a new era in video analytics with the goal of providing businesses the next generation AI tools necessary to unlock the power of their video, elevate their organization’s video acumen and change the paradigm of how we use the visual medium.”

Ramon.Space Builds Super-Computing Systems For Space
The company just raised $17.5 million. Israeli startup Ramon.Space offers space computing solutions. The company raised $17.5 million in Series A funding. The round includes StageOne Ventures, Deep Insight, WorldQuant Ventures, UMC Capital and existing investor Grove Ventures. The capital will be used to continue development of the company’s computing solutions, support it’s rapidly expanding US and Israel operations, and expand the team globally.

Israel’s Wiz Cloud Security Raises Another $120 Million
The round of funding was led Salesforce.

Salt Security Cybersecurity Startup Raises $70 Million
The company specializes in security for application programming interfaces.

Israeli Gift Giving Startup Snappy Raises $70 Million
This brings Snappy’s total funding to over $100 million. Snappy is an Israeli startup which offers a new platform for gift giving. The company declares that it is reinventing the way to give gifts to fit the modern era.

IPOs and Unicorns
Memic Innovative Surgery Looks To $1 Billion IPO
It will be done through an SPAC merger. Just last month the company 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 Chipmaker Valens Gets $1.16 Billion Valuation From SPAC Merger
“Valens sets the bar in every industry we touch.” Valens, an Israeli startup which provides high-speed connectivity solutions – chips — for the audio-video and automotive markets, and PTK Acquisition Corp.

Mergers and Acquisitions
Israeli Energy Company Ormat Buys Nevada Power Assets For $377 Million
Ormat Technologies deals in geothermic energies. The acquisition is expected to close in the second half of 2021, subject to regulatory and other customary closing conditions.

Israel’s Bright Data Teams With UK Government
It’s doing so through its The Bright Initiative. Israeli data collection company Bright Data, formerly called Luminati Networks, has established a new initiative to assist the UK’s National Data Strategy called The Bright Initiative. The company will work together with multiple British organizations on the project.

Other Business Stories
Magic Software Releases FactoryEye Solution For Small Factories
FactoryEye will help businesses upgrade to Industry 4.0. Israel’s Magic Software Enterprises Ltd. (NASDAQ and TASE: MGIC) a global provider of end-to-end low code integration and application development platforms solutions and IT consulting services, released its newest data intelligence product, FactoryEye, built specifically for manufacturers. Magic boasts that its new platform will enable manufactures to transform into “Industry 4.0” with minimum changes to their enterprise systems.

Promo.com is an Israeli startup which offers a video creation platform for businesses. 

Getty Images has led a $16 million Series B funding round in Promo.com, building upon an existing strategic partnership with the company. The round also included debt financing from Mizrahi Tefahot Bank (UMTB-Tech).

IAI Unveils SatGuard – A New Satellite Operation And Management System
Satellites generate streams of telemetry data that contains thousands of parameters and information.
Israel Aerospace Industries (IAI) has developed an innovative system for operating and managing observation and communication satellites. The new SatGuard system is designed to extend the life of satellites deployed into orbit. Powered by AI, big data and machine learning, the system detects anomalies and other irregularities in the satellite’s operations. IAI says that SatGuard’s development is based on years of focus and experience in space, accumulated by IAI’s Systems, Missiles and Space Group, and as part of IAI’s internal Innovation Center.

Israel’s Parametrix Insurance Is An IT Downtime Insurance Provider
It has raised $17.5 million. Parametrix Insurance is an Israeli IT downtime insurance provide. It has raised $17.5 million in funding from leading VC firms including FirstMark Capital with participation from F2 Ventures.

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