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entrio raises $7.5 million for IT asset management and Simplex Bringing Mapping Tech to Italy

Simplex

Simplex co-founders CEO Nimrod Lehavi (center), Chief Technology Officer Erez Shapira (right) and Chief Analytics Officer Netanel Kabala. (Simplex PR Pic)

entrio, an Israeli startup that offers an AI-driven IT asset management solution for financial enterprises, raised $7.5 million from Vintage Investment Partners, Communitas Capital Partners, BNY Mellon, and Alicorn Venture Partners. And Simplex, an Israeli aerial 3D mapping company based in Herzliya, has begun to offer its services to Italian towns and cities.

Simplex expects to cover 150 cities in Italy over the next three years after the company entered into an agreement with 200 municipalities through a local IT firm there.

“In Italy, they are maybe 15 years behind the digitalization in Israel, so it is a huge breakthrough and [they’re] investing a lot of money in becoming more digital. This is why our platform fits in well with the general approach in Italy,” explained Avi Aflalo, Co-Founder and CEO at Simplex. “Covid did a lot of bad things but it helped us because people understood they need access to the areas to see things even if they cannot be there on the ground. This helped municipalities understand they need that kind of a tool to work with the data.”

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Founded in 2014by Avi Aflalo and two scientists from the Technion, Dr. Shahar Barnea and Dr. Ziv Shragai, Simplex boasts that it has been changing the status quo of crypto on/off ramps. The company says that it pioneered the first riskless global fiat onramp using a credit and debit card, which promises a zero chargeback guarantee. Simplex continues to innovate the space with Simplex Banking, which offers the Simplex fraudless payment processing, with global payment accessibility.

Ziv Shragai and Shahar Barnea are experts in the field of remote sensing and photogrammetry. Both received their PhDs in remote sensing from the Technion – Israel Institute of Technology. They are the recipients of the 3rd place prize in the international ICCV 2005, computer vision contest. They have published numerous articles, and have lectured in geo spatial conferences worldwide. Together they lead Simplex technology division.

Simplex offers a “sweeping” camera system with a “high variety of quality” mapping solutions. Due to its configuration and lightweight (only 6kg), it can be installed on any aircraft, either with a hatch or with our STC approved pod. Thanks to the sweeping ability, our system can collect nadir images as well as oblique in a single pass.

As for entrio, founded in 2021 the company boasts that its entrio platform enables users to gain visibility and insights on both existing and potential vendors in an organisation. Clients receive daily alerts on functional duplications, product updates, vulnerabilities, certifications, and more. They can also leverage network analytics and peer benchmarking for improved enterprise stack performance and cost savings. And entrio says its open platform of APIs, native integrations, and webhooks make it “quick and easy to connect to any system, so that you can focus on optimizing and upgrading your stack right away.”

“We are honored to have received this vote of confidence from our new investors, and are fortunate to have achieved a strong track record in such a short time with some of the world’s top-tier banks,” said Avi Cohen, co-founder and CEO of entrio. “This round will allow us to continue building the best-in-class IT asset management solution for some of the most respected financial institutions and largest enterprises in the world.”

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