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Israel High Tech Scene Week In Review June 20 – 26

Tel Aviv at sunset, Israel

New Startups / VC Funding
Israeli Startup Firebolt Offers Cloud Data Warehouse – Raises $127 Million
Firebolt boasts that it has “completely redesigned” the cloud data warehouse. Firebolt is an Israeli startup which calls itself the world’s fastest cloud data warehouse, purpose-built for delivering a new grade of analytic experiences over big data.

Israel’s Largest FinTech Seed Round: Sorbet Raises $21 Million
Sorbet has raised $21 million in funding, the most significant seed round for a FinTech business in Israel.

Fintech Startup Lendbuzz Raises $300 Million in New Credit
Lendbuzz also just raised $60 million. Israeli fintech startup Lendbuzz offers an AI based auto finance platform for people seeking a line of credit. Lendbuzz just completed a $60 million Series C funding round led by Wellington Management, joined by Goldman Sachs & Co and MUFG Innovation Partners.

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Securitize Raises $48 Million for Digital Securities Services
Securitize, Inc., calls itself the leading digital asset securities firm. Securitize, Inc. is a startup which deals with digital asset securities. The company enables digital securities which it says are easier to own, simpler to manage, and faster to trade. Securitize just brought in $48 million in a Series B fundraising round which the company said was oversubscribed.

DataRails Has Fintech Solutions for Small Businesses
DataRails just raised an additional $25 million.

Mitiga Offers Cloud Based Cybersecurity Solutions
Mitiga company has raised $25 million.

Equinom Offers Plant Based Nutrition Solutions
Equinom just raised $20 million. Israeli startup Equinom is an agtech company offering plant based nutrition solutions. Equinom completed a $20 million Series C financing round led by Phoenix.

Israeli Startup Better Juice Reduces Sugar in Natural Juices
Better Juice, Ltd. is an Israeli startup which has a technology to reduce all sugars from natural juices. The company just raised $8 million in seed-round investment, led by iAngels, Israel.

IPOs and Unicorns

JoyTunes Israeli Music Ed Startup Is Now a Unicorn With Help from Google
JoyTunes offers apps for learning to play musical instruments. Israeli startup JoyTunes offers a music education service. The company just hit the coveted unicorn status with a $1 billion valuation after raising $50 million in fundraising led by GV –formerly Google Ventures — and with participation by Qualcomm, reported Calcalist.

Israel’s Transmit Security Holds Largest Series A Funding in Cybersecurity History — Hits $2.2 Billion Valuation
Transmit just raised a whopping $543 million. Transmit Security is an Israeli cybersecurity startup which specializes in passwordless authentication. The company is now a unicorn with a $2.2 billion valuation. Transmit just raised a whopping $543 million in what is the largest Series A financing round ever held by a cybersecurity startup

Chip Developer Hailo Is Israel’s Newest Unicorn
Halio just raised $100 million. Halio is an Israeli startup which develops proprietary chip s for deep learning on edge devices. Globes reports that Halio has just hit unicorn status. The company did so with a $100 million financing round which gave Halio a valuation of $1 billion.

Bad News for SentinelOne – Its Forecasted IPO Valuation Dropped by Billions
The IPO may be worth 30% less than previously expected. SentinelOne, an Israeli cybersecurity firm, has greatly lowered its expectations for the company’s upcoming initial public offering. The New York IPO had expected to leave the company with a $10 billion valuation. But in papers filed today, on Monday, SentinelOne has dropped the anticipated valuation from their NYSE IPO to only $7 billion.

Israeli Video Startup Innovid Talking SPAC IPO Merger with Ion
Innovid expects more than a $1 billion valuation from its IPO. Innovid, an Israeli startup in the field of video advertising, is planning an initial public offering through a Special Purpose Acquisition Company (SPAC).

Talkspace Virtual Behavioral Healthcare Company Holds $1.4 Billion NASDAQ IPO
Talkspace is a virtual behavioral healthcare company enabled by a purpose-built technology platform.

Other Business Stories
Trump’s former Treasury Secretary Mnuchin and Ambassador to Israel Are Investing in Israeli Startups
The fund, with the backing of Persian Gulf state finances, will have billions of dollars under management.

Adidas and Israel’s Delta Galil Sign Underwear Deal
Delta Galil will make both men’s and women’s underwear collections for Adidas. Israel’s Delta Galil Industries is a global manufacturer and marketer of branded and private label apparel products for men, women and children. Adidas has joined Delta Galil in a new global licensing agreement in which Delta will design, manufacture and distribute men’s and women’s underwear collections under adidas’ Badge of Sport and Originals labels.

Bank of Israel Testing Digital Shekel
The news may have slipped out by accident. A digital Shekel (digital currency) is being tested by the Bank of Israel. BOI Deputy Governor Andrew Abir revealed during a talk at the Fair Value Forum of IDC Herzliya that a pilot program has been underway. Globes reports that this may have been an accidental slip of the tongue on the part of Abir.

Aidoc and icometrix join forces to revolutionize stroke care coordination.
Aidoc, a provider of artificial intelligence (AI) solutions for medical imaging, and icometrix, an imaging AI solutions for patients with neurological conditions, announced today a partnership to develop an AI-based stroke suite for rapid triage patients with suspected stroke.



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