Tech Buzz: HoneyBook and Autobrains Continue to Fund Momentum

Start-Up Nation continues to operate in hypergrowth mode through November.

Israeli startups raised more than $ 3 billion in October, a record month that brings the current total for the year to nearly $ 21 billion. That’s more than double what was raised in all of 2020, and there are still two months to go.

HoneyBook, a platform for independent business owners to manage their customer flow and cash flow, closed a huge round of $ 250 million Series E shares led by Tiger Global Management. The round doubled the company’s valuation to $ 2.4 billion. Founded in 2013 in Tel Aviv, HoneyBook combines tools like billing, contracts, and customer communication to help business owners get organized. As more American workers quit their jobs during what’s known as the ‘Big Quit,’ HoneyBook member companies have set aside more than $ 1.9 billion. on the platform only in 2021, the company said.

Autobrains, which develops self-learning artificial intelligence technology for assisted and autonomous driving, raised $ 101 million. in Series C financing led by Singapore-based investment firm Temasek. Several automakers also participated in the round. The company says its driver assistance systems offer superior performance, with lower costs and processing needs than other solutions on the market. The three-year Tel Aviv-based company said it will use the funds to increase its business reach in new global markets.

Illumigyn (stylized as illumigyn), the world’s first remote gynecological imaging platform, raised $ 33 million. to accelerate their plans to bring cutting-edge gynecological imaging to women around the world. The company offers a complete platform with a revolutionary “gynecology endoscope” and a cloud platform service with an accompanying mobile application. The Neveh Ilan-based company will begin rolling out in the US, UAE, India, Singapore and South Korea this month.

An electronic board displaying market data is seen at the entrance to the Tel Aviv Stock Exchange, in Tel Aviv, Israel (credit: REUTERS)

Lumigo, a cloud-native application monitoring and debugging platform, announced $ 29 million. in new financing, the largest investment ever made in the world of serverless technology. The Series A round brings Lumigo’s total funding to $ 37 million, and was led by RedLine Capital. Since leaving stealth in 2019, Lumigo’s product is now used by hundreds of companies. Lumigo will use the new investment to double its core team of 30 people, recruiting more marketers and developers.

Velocity, a Tel Aviv-based start-up that accelerates the way developers build and deliver products, raised $ 17 million. in a Series A round led by Insight Partners. The investment, which brings the company’s total funding to $ 22 million, will allow Velocity to expand its team and allow developers to streamline and accelerate product development. Founded in late 2020, Velocity recently went stealth to beta and is already ahead of its product roadmap, onboarding customers and hiring quickly, it said.

Vensica Therapeutics closed a $ 16 million investment round. run by the Israel Biotechnology Fund. Vensica’s needleless drug delivery platform will be used for the delivery of botulinum toxin type A into the urinary bladder for the treatment of different urological indications, offering a better patient experience than currently available standard treatments. The funds raised will support the company’s phase II multicenter clinical trials in Europe and the United States, he said.

Agora, whose software platform manages investment and asset data for the real estate industry, raised $ 9 million. in a seed funding round led by Aleph. Founded in 2019, Agora has increased eightfold over the past year in the United States, reaching more than $ 20 billion. in assets under management and 6,000 investors who use the platform on a daily basis. The funds will help further develop its software and expand its business in the US.

BetterSeeds said it closed $ 2 million. investment as part of $ 7 million. round of financing. BetterSeeds applies and improves CRISPR-cas9 gene editing technology to develop new and improved varieties of selected crops. The value of the company reflects an increase of more than 300% in less than a year from the value of the company’s previous investment round, he said.

Oxeye, a technology innovator in cloud native application security testing, closed a $ 5.3 million seed funding round led by MoreVC. Currently in beta, the Oxeye security testing solution is designed for the AppSec, Dev, and DevOps teams, helping to shift security to the left while accelerating development cycles, reducing friction, and eliminating risk. The new funding will be used to complete product development and expand sales, marketing and operations.

Tel Aviv-based start-up Blings.io, which develops technology to create dynamic interactive videos, completed a $ 4 million initial round spearheaded by Hanaco Ventures. Their platform can dynamically create different videos for each user, based on data and business logic, and allows the user to interact with the video while watching it. The company’s technology is already used by Mercedes-Benz, Singapore Airlines, McDonald’s and others. The company is creating no-code tools for professional video editors that allow them to easily add dynamic content and interactive capabilities to their videos.

Or MEDX, the Yehuda-based digital medicine and medical device accelerator, said it would invest $ 2.5 million. in three startups in cooperation with the Israel Innovation Authority. The companies are VeinWay, developer of a dedicated solution for the treatment of chronic venous blockages; EyeMed, developer of a premium lens for intraocular implantation that will allow to adjust vision in a non-invasive procedure after cataract surgery; and BeWeld, developer of a technology that will automate manufacturing processes for implanted devices such as heart valves.

On the acquisition side, Fiverr International acquired Stoke Talent, a solution to help companies manage their work with independent talents, for $ 95 million. This includes tools to check in, pay, keep track of budgets, and more. With the Stoke product suite, Fiverr seeks to add more value to larger companies and integrate with existing corporate workflows. Stoke has nearly 30 full-time employees and is based in Tel Aviv. Fiverr was founded in Tel Aviv in 2010 and said that 4 million customers have used its platform to purchase freelance services in more than 160 countries in the last year.

Israeli cryptocurrency unicorn Celsius acquired Tel Aviv-based cybersecurity firm GK8 for $ 115 million. GK8 provides financial institutions with a platform to manage and protect digital assets, and was founded in 2018. Celsius, which offers an earnings and lending platform for cryptocurrencies, raised $ 400 million. last month.

Several new funds were announced this week. Walden Catalyst, an early-stage venture capital firm dedicated to deep technology investments in data and artificial intelligence companies in the US, Europe and Israel, closed a fund of more than $ 550 million, surpassing its original target. of $ 400 million. The fund also said it invested $ 20 million. at AI21 Labs, the natural language artificial intelligence company founded by Amnon Shashua, the entrepreneur who also founded Mobileye, Orcam, and First Digital Bank. AI21 raised the funds to $ 400 million. valuation, totaling $ 55 million.

Silicon Valley-based venture fund UpWest closed an oversubscription of $ 70 million. Fund IV to duplicate its strategy of supporting Israeli founders breaking into the US market. UpWest invests in Israeli founders in the early stages of their ventures, leading pre-seed and seed rounds to help them expand into the US market. UpWest also said it expanded its presence in Tel Aviv with a new office.



Reference-www.jpost.com

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