TechNation: Israel-China Catalyst Fund Leads $25m Investment in SatixFy

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High-tech workers in Israel.
An illustrative photo shows High-tech workers in Israel.Credit: Tomer Appelbaum

Israel-China Catalyst Fund leads $25m investment in SatixFy

Catalyst CEL Fund said on Tuesday it is leading a $25 million investment round in SatixFy Ltd, an Israeli provider of satellite communication technology.

The investment round will be completed by the end of the year, Catalyst said. By designing its own silicon chips, SatixFy’s technology reduces the cost, size, weight and power consumption of user-terminals, and cost of air-time for satellite communications.

The Catalyst CEL Fund, jointly managed by Israel’s Catalyst and China Everbright Ltd, primarily invests in mid-to-late stage companies whose growth strategy is oriented towards emerging markets with a special focus on China. (Reuters)

OurCrowd unveils new fund focusing on digital health

Jerusalem-based fundraising platform OurCrowd announced Tuesday that it had finished its first closing of a new fund named Qure, which will focus on digital healthcare.

OurCrowd raised $10 million for the fund, which it hopes will reach $50 million. Following the first closing, the fund can now start making investments; it intends to focus on seed money or series A investments in early-stage startups offering innovations in the field of health.

The fund seeks to focus on Israeli companies, but will not be limited to them, said OurCrowd. (Eliran Rubin)

Automobile startup Otonomo raises $12 million to connect cars to apps

Israeli startup Otonomo announced that it has completed seed and round A fundraising, taking in a total of $12 million.

Investors include Stage One and Bessemer Venture Partners. The early-stage startup, founded at the end of 2015, is developing cloud-based software that enables millions of cars and drivers to connect to hundreds of applications and services for vehicles.

The company’s founders are CEO Ben Volkow and President Avner Cohen, both veterans of Israel’s high-tech industry. (Eliran Rubin)

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