Tech Buzz: Verbit, Moon Active lifts big rounds

It’s another wild week at Start-Up Nation, with more frenzied investing activity and two reported mega rounds.

Israeli startups have raised more than $ 22 billion so far this year, more than double what has been raised in any previous year.

Verbit, a voice artificial intelligence subtitling and transcription company, raised $ 250 million in a Series E funding round led by Third Point Ventures. Since Verbit raised its 157 million dollars. In the Series D round last May, the company’s valuation doubled to $ 2 billion, after raising a total of more than $ 550 million. since its founding in 2017. Verbit has more than 2,000 clients in the media, education, corporate, legal and government sectors, and employs 470 workers, along with 35,000 freelance transcriptionists and 600 professional subtitlers worldwide. This new round demonstrates investor confidence in Verbit’s promise to revolutionize the $ 30 billion transcription market.

Reports in the Hebrew press say that Tel Aviv-based gaming company Moon Active raised $ 300 million. at a company valuation of $ 5 billion. The round, made up of secondary transactions, was led by Insight Partners, Calcalist said. Moon Active is the developer of Coin Master, one of the most popular mobile games in the world, in which players build villages by earning coins to upgrade items. The nine-year-old company acquired European gaming company Melsoft last year for an estimated $ 100 million.

Mindspace, which offers flexible office solutions, raised $ 72 million. to support its expansion in Europe, the United States and Israel. Mindspace, founded in 2014, currently operates 32 branches in 17 cities in 7 countries, spread over 100,000 square meters (more than 1 million square feet). In the last year alone, Mindspace launched new branches in London, Tel Aviv, Philadelphia, and a new hub and radio location outside of Tel Aviv, in Yakum. While most of the commercial real estate industry was affected as a result of COVID, the flexible office space market is expected to continue to grow over the next decade, the company said.

Tom Livne, CEO of Verbit (credit: SHLOMI YOSEF)

8fig, a Tel Aviv-based provider of non-capital flexible financing and supply chain management tools for e-commerce sellers, raised $ 50 million. in the Series A financing round to accelerate growth and expand its lending capabilities.

Whatslly, a Tel Aviv-based provider of a conversational sales platform for customer-facing interactions, raised $ 11 million. The company’s two-year-old codeless plug-and-play solution connects with WhatsApp and other messaging products to help companies track customer interactions and provide sales insights.

Zenity, a cybersecurity platform for Low-Code / No-Code applications, came out of stealth mode with a $ 5 million seed funding round, led by Vertex Ventures and UpWest. The company was founded in April in Tel Aviv and includes Fortune 500 companies among its clients.



Reference-www.jpost.com

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