While there has been a slowdown in financing rounds completed by Israeli unicorns, in the wake of the sharp falls on Wall Street this year, earlier stage startups are raising more than ever. A recent report by IVC-Leumitech found that investments in earlier stage startups strengthened in the third quarter of 2022, despite the overall slowdown in startup fund raising. In the third quarter of 2022, early stage startups raised $302 million in seed funding compared with $247 million in the preceding quarter of 2022, and $127 million in the corresponding quarter of 2021.
This trend was exemplified today with six Israeli startups announcing the completion of financing rounds totaling $81 million.
Cybersecurity company Veriti announced that it had emerged from stealth today with $18 million in funding - consisting of a $12 million round led by Insight Partners, with the participation of NFX and AMITI and Merlin Ventures, which led the company's first investment round of $6.5 million. Veriti was founded in 2021 by IDF signals intelligence unit 8200 veterans and ex-Check Point executives Adi Ikan (CEO) and Oren Koren (CPO). Its security infrastructure platform helps security teams to reduce risk and maximize their organization's security position.
Financial technology and software company Foredefi announced the completion of an $18 million seed financing round and the launch of its institutional wallet. The round was led by Lightspeed Venture Partners with participation from Electric Capital, Alameda Research, Jump Crypto, Castle Island, Pantera Capital, Illuminate Financial, PayPal Alumni Fund, Nima Capital, Digital Currency Group, Defiance Capital and StarkWare. Co-founders Josh Schwartz, CEO, Dima Kogan, CTO, and Michael Volfman, VP R&D, began developing the Fordefi platform in 2021.
Cybersecurity company Wib announced the completion of a $16 million financing round led by Koch Disruptive Technologies (KDT). The company has launched its holistic API security platform to bring complete visibility and control across the entire API ecosystem - from code to production. The company was founded in August 2021 by serial entrepreneur Gil Don (CEO), Ran Ohayon (CRO) and Tal Steinherz who previously served as the CTO of Israel's national cyber directorate.
Everybuddy Games announced the completion of a $15 million financing round while robot software innovator MOV.AI raised $8.2 million. YonaLink, which has developed clinical trial software announced the completion of a $6 million financing round led by Switzerland's Debiopharm Innovation Fund.
Published by Globes, Israel business news - en.globes.co.il - on November 8, 2022.
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