Israeli startups raise $215m in July to date

Startups Photo: Shutterstock
Startups Photo: Shutterstock

The latest round was by Spotinst, which raised $15 million for its cloud of clouds platform.

Since the beginning of July, fifteen Israeli startups have raised an aggregate $215 million, which is in line with the current monthly rate of over $300 million. In monitoring capital raised by startups, "Globes" looks only at Israeli companies, that is, companies with a fairly clear connection to Israel expressed in the identity of the founders, the number of people employed in Israel, and so on.

Of the fifteen companies that have raised money in July, eight carried out a B round and five an A round. Companies carrying out A and B rounds generally fall within the category of "Early Stage".

Venture capital funding for Israeli startups in the first quarter of this year, as monitored by "Globes", totaled $960 million, which is in line with the quarterly rate in recent years.

The fund-raising round announced most recently was that of Spotinst, which raised $15 million in an A round led by Intel Capital and Vertex Ventures. Spotinst's claims that its platform enables its customers to save 50-80% of the cost of cloud computing. The platform is based on an algorithm that provides long-term use of the company's servers with 100% availability.

“When we floated the idea of virtual cloud infrastructure two years ago, many said that it could not be done,” said Spotinst founder and CEO Amiram Shachar, “But since then companies and developers voted with their workloads. We appreciate their confidence and support from our investors. The proceeds will help Spotinst grow, and take us closer to our vision of a cloud of clouds.”

Companies that have raised capital so far in July include:

Venus Concept, cosmetic medicine equipment, $37.5 million
Deep Instinct, cybersecurity, $32 million, software for converting calls to sales, $20 million
CellSavers, home service for mobile telephones, $20 million
Spotinst, cloud computing, $15 million
Intuition Robotics, robotic assistance for the aged, $14 million
Dune Medical, cancer diagnostics, $12.3 million
Curve, credit card consolidation, $10 million
Rapid Medical, neurovascular medical devices, $9 million
Applitools, app monitoring, $8 million
OwnBackup, SaaS backup and storage, $7.5 million
Genoox, genome analysis, $6 million
Dbmaestro, DevSecOps solutions, $4.5 million
UVeye, warning of explosive in vehicles, $4.5 million

Published by Globes [online], Israel business news - - on July 17, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

Startups Photo: Shutterstock
Startups Photo: Shutterstock
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