TechNation: Pain-measuring Company Raises $8 Million

Tech higher education expanded; Deutsche Telekom fund backs Replay; International banks launching TA fintech center; Powermat responds: Our CEO is staying.

Hagai Frid

Pain-measuring company raises $8 million

An Israeli company that specializes in measuring pain has raised $8 million in its second round of financing, Medasense Biometrics announced on Tuesday.

The company’s product is intended to help doctors provide precise doses of painkillers, minimizing side effects. The company has raised $13 million to date.

“Even though pain damages the quality of life of millions of people around the world, and even though it is the main reason people contact their doctors, there are no clinical tools to objectively quantify pain levels,” said CEO and founder Galit Zuckerman. “The broad consensus nowadays is that an objective measure of pain would bring about a revolution in pain management.”

The company’s product involves a finger sensor designed to measure the pain in an unconscious patient. (Elian Rubin)

Tech higher education expanded

Universities will be able to accept another 2,000 engineering and computing students over the next five years, under a plan by the Finance Ministry, the National Economic Council and the Prime Minister’s Office to cope with the lack of manpower in elite technology fields.

On Tuesday they announced another expansion of the program, expanding the infrastructure and staffing in these university programs. To date, this program has expanded the number of first- and second-year students by 418 a year for the past two years. The programs were expected to grow by another 330 students over the next two years; under the plan, they will be able to take in an extra 750 students each year.

In total, this should create another 2,000 graduates with degrees in engineering, information systems and computing over the next five years. (Moti Bassok)

Deutsche Telekom fund backs Replay

Deutsche Telekom Capital Partners led a $13.5 million Series B investment round in Replay Technologies, the investment fund announced.

The funding will help the company develop next-generation, multi-dimensional video imaging technologies, it said. Replay Technologies is an augmented reality company with offices in New Jersey, California and Tel Aviv. Its Free Dimensional Video (FreeDTM) lets viewers see and experience real-life scenes through immersive camera views from multiple angles.

With this round, Replay Technologies has raised a total of $27 million to date. (TheMarker Staff)

International banks launching TA fintech center

A new complex for start-ups in the fintech field, called the Floor, will be opening in Tel Aviv in June.

The companies behind the initiative include four international banks - Intesa Sanpaolo, HSBC, Banco Santander and RBS. They are expected to accompany the founders during the companies’ launch process.

The complex is expected to be located near the Tel Aviv Stock Exchange Building on Ahuzat Beit Street, although the exact location is yet to be determined.

The site will include a joint work area for some 25 companies in the field of finance, a research and development center, and resources to help entrepreneurs draft plans for growth. Office space rents will start at 2,200 shekels a month. (Eliran Rubin)

Powermat responds: Our CEO is staying

The conflict at Powermat continues: The company will not be ousting its CEO, Thorsten Heins, contrary to reports earlier this week, it said on Tuesday.

The company was responding to the publication of an agreement in principle submitted to the court as part of the arbitration proceedings ongoing between three board members - including founder Ran Poliakine - versus the company and Heins. That agreement had stated that the company would find a new CEO.

Powermat responded Tuesday that Heins is doing excellent work, and will remain CEO. The company expressed regret that Poliakine and his associates had published a secret arbitration document without the approval of all sides or the arbitrator.

The company develops wireless charging technology for cellphones, and its clients include Starbucks and Samsung. (Eliran Rubin)