8 exits, dozens of rounds: where the money went in Israel in August 2016
The startup nation is growing and scintillating with many technological ideas, but not everyone always succeeds in taking the idea and turning it into a reality without an investment. In this monthly column, we present a summary of the Israeli startups that received investments last month from funds, angels, and even from the state.
So where did the money go?
CyberX raises $9 million
Israeli company CyberX, a startup dealing in cyber security for the Industrial Internet, announced the completion of their Series A financing round in which it raised $9 million. International venture capital fund Flint Capital led the round, together with previous investors Glilot Capital Partners, UpWest Labs, GlenRock Group, Swarth Group, Gigi-Levy-Weiss, and other investors from the US and Europe.
CyberX offers a solution for detecting cyber attacks and operational malfunctions in real time by creating absolute visibility of the Industrial Internet at any given moment, based on modeling technology and ISC-ISAC. The purpose of the Industrial Internet is to create a smarter and safer internet connection for industrial machinery.
Panoply.io raises $7 million
Young startup Panoply.io announced the completion of a $7 million seed financing round led by Intel Capital, the American chip giant’s investment arm, and Blumberg Capital, a previous investor in the company.
Panoply.io is developing a new way of storing data on the cloud by turning it into a more accessible and flexible platform than the one currently offered, which is basically an infrastructure that can be operated only by experts. The platform developed by the company is designed to manage data and analytics, essentially what New Relic did for monitoring and performance and Heroku did for apps development.
Velostrata raises $17.5 million more
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Israeli company Velostrata, which is developing the first hybrid cloud solution that also works in real time, announced the completion of a $17.5 million financing round led by Intel Capital, Intel’s investment arm, with the participation of previous investors Norwest Venture Partners and 83North Venture Capital.
The technology developed by Velostrata enables organizations to stream calculation tasks from the client’s website to the cloud and back within minutes, without copying the data or the software themselves to the cloud, thereby maintaining optimal performance. According to the company, the solution it has developed is the only one that accommodates on-demand hybrid cloud architecture for core organizational apps, while there is no need to make changes in the apps, the operating system, or the data location, the method of storing them, and their management. In other words, an organization’s personnel can continue using the same tools and processes for managing the calculation infrastructure that they have become used to. The transfer of calculation tasks to and from the cloud is done by clicking on a button.
Israeli company Sedona Systems raises $13.6 million
Sedona Systems announced the completion of a $13.6 million Series B financing round led by Intel Capital, with participation from new investor NexStar Partners and existing investors Bessemer Venture Partners
Sedona Systems develops technology designed to improve connectivity of networks throughout the world and the efficiency of data centers. It does this with the help of a combination of layers that currently operate independently and do not communicate with each other. By merging two of these layers, it is possible to attain control, receive information, and optimize the organizational network. The company’s technology makes it possible to obtain a great deal of information from the SDN controllers on two layers, such as the volume of traffic and alerts, thereby benefiting from greater reliability on the network. According to the company, organizations can save up to 50% of their communications infrastructure costs through the optimization it offers. NetFusion, the product developed by the company, works with the equipment of all the recognized manufacturers. Once installed, it works automatically, and is transparent to the user.
Spot.IM raises $13 million
Israeli startup Spot.IM, which has developed a widget designed to enhance the involvement of visitors on a website, announced the completion of a $13 million Series A financing round. Funds Index Ventures and Altair Capital led the round, together with other investors. The company develops products for the use of websites that create original content in order to enable them to hold on to surfers exposed to the content, and not to lose them as a result of the sharing and display of content on Facebook, YouTube, Twitter, and other social networks.