TechNation: Singulariteam Made 12 First Investments in 2015

Israeli fund topped list of most-active venture capital funds; Cybersecurity firm Hexadite raises $8 million; Via Surgical raises $6m; Chinese tech incubator expands into Israel.

Hexadite founders, from left,  Barak Klinghofer, Idan Levin and Eran Barak, outside company offices.

Singulariteam named Israel’s most active VC fund in 2015

Singulariteam, a midsized Israeli venture capital fund founded by Moshe Hogeg and Kenges Rakishev, was the biggest VC investor in Israel in 2015, making 12 first investments, IVC Research Center reported Wednesday.

Placing second, with nine first investments each, were Israeli fund Carmel Ventures and American fund Innovation Endeavors, the latter co-founded by Google chairman Eric Schmidt and Dror Berman.

The most active micro VC fund was local fund OurCrowd First, with seven first investments from its $10 million fund. Venture capital investments in Israel rose 30% last year, to a record $4.43 billion, but IVC said the number of first-time investments in startups declined, mainly because foreign VCs were less active in Israel last year.First investments in startups fell to $344 million, from $378 million in 2014, IVC said.

The report also suggested the micro VC funds appears to be losing steam after soaring in 2011 and climbing steadily through 2014. (Inbal Orpaz)

Hexadite raises $8 million for cybersecurity technology

Hexadite, an Israeli startup whose technology investigates and resolves cybersecurity alerts in minutes instead of weeks, said Wednesday it closed an $8-million funding round led by Hewlett Packard Ventures, the venture capital arm of the U.S. technology giant.

Other investors include Ten Eleven Ventures of the United States and YL Ventures of Israel, which invested in Hexadite’s seed round.

Hexadite said it will use the money to accelerate research and development in Israel and expand marketing and sales worldwide. The round brings total investment in Hexadite to $10.5 million.

The company was founded in 2014 by Chief Executive Officer Eran Barak, Chief Product Officer Barak Klinghofer and Chief Technology Officer Idan Levin, all of whom served in army intelligence and worked at Elbit Systems. Hexadite has 20 employees, including 15 at its Tel Aviv R&D center, and plans to hire 15 more. (Eliran Rubin)

Via Surgical raises $6 million for hernia-repair technology

Via Surgical, which is developing a novel technology for hernia surgery, said Monday it raised $6 million in a funding round led by Benslie Investment Group.

Chief Financial Officer and company co-founder Lena Levin said the proceeds would be used to develop and commercialize its FasTouch cartridge-based hernia repair device, which creates lockable sutures that close around the mesh and body tissue.

Benslie, a new name on Israel’s tech scene, is an investment group led by Alejandro Weinstein Manieu, a former CEO and leading shareholder in CFR Pharmaceuticals, Chile’s biggest drugmaker. In 2014, Abbott Laboratories bought CFR from Manieu, Alejandro Weinstein Crenovich and Nicolas Weinstein for $2.9 billion.

Via Surgical was founded in 2012 by Lena and Ofek Levin and Arik Levy, all of whom previously founded and led PolyTouch Medical. (TheMarker)

TechCode to offer office space, support to China-oriented Israeli startups

TechCode, a Chinese rival to the WeWork provider of flexible office space popular with startups, is opening an office center in Tel Aviv next month.

Unlike WeWork, TechCode is focused entirely on startups and screens candidates for the interest and ability to enter the Chinese market and will provide technology and management support.

The company has already begun recruiting startups for its 1,400-square-meter facility on Tel Aviv’s Lilienblum Street, which has space for 120 people. Fees will range from $200 a month for desk space to $300 for an office. TechCode has offices in China, Germany and South Korea and plans to open seven more in 2016.

Meanwhile, We Work is planning its first Jerusalem facility, in the Mashbir Lezarchan building in the city’s downtown. It already has three office centers and is planning a research and development center in Israel, too. (Eliran Rubin)