TechNation/ Entrepreneurs to Host Entrepreneurs During DLD Conference

McCann Erickson to boost stake in The Time, Augury raises $7 million for Internet of Things.

Hubert Burda Media

Entrepreneurs to host entrepreneurs during DLD conference

Next week’s DLD high-tech conference in Tel Aviv is giving visitors extra time to network away from the conference floor. Room-sharing service Airbnb has set up a special initiative called “Entrepreneurs Host Entrepreneurs,” where conference participants from abroad will stay at the homes of Israeli tech entrepreneurs and investors. Airbnb launched the idea at a Barcelona conference two years ago, and is bringing it to Israel for the first time. Thirty Israelis have already signed up as hosts, including Gett founder and CEO Shahar Waiser; SimilarWeb founder Or Offer; and Evolero cofounder and CEO Tal Shoham. ”It’ll be great for me, because I’m going to be at the conference all week and it’ll be nice to spend time at home with someone who’s been in the same place all week,” said Shoham. ”It’s hard to get to know people only on the business level. And this is a way to get to know them better,” Shoham added. Airbnb is offering a voucher equivalent to $50 during the DLD conference, which runs September 6-12. (Rina Rozenberg)

McCann Erickson to boost stake in The Time

Global advertising and marketing company McCann Erickson is increasing its investment in Israeli tech investment firm The Time by between $10 million-$15 million. The decision was made last week when McCann’s CEO, Harris Diamond, was visiting Israel. Three years ago, the New York company invested $4 million for an 11% stake in The Time, which was founded by Ilan Shiloah and has invested in some 30 startups – including PlayBuzz and Redis Labs. The latest cash infusion will increase McCann’s stake in The Time to between 25% and 30%. Industry sources say The Time is worth as much as $90 million. The Time also has raised $60 million for a venture capital fund called First Time. (Amir Teig)

Augury raises $7 million for Internet of Things

Augury Systems, whose technology is used to diagnose mechanical problems in machinery, said Monday it had raised $7 million in a funding round led by Formation 8 hardware fund and joined by Pritzker Group Venture Capital. Existing investors First Round Capital and Lerer Hippeau Ventures also participated in the funding. The capital will be used to accelerate product development, and expand sales and marketing, Augury said.  Built on the concept that each machine has a unique acoustic fingerprint, Augury has developed proprietary algorithms, smart-sensing devices and mobile diagnostics that listen to machinery, such as heating, ventilation and air conditioning – analyzing the data and catching any malfunctions before they arise. The company plans to expand its reach to diagnosing the Internet of Things. The Israeli-U.S. startup was formed in 2011 by CEO Saar Yoskovitz and Gal Shaul (chief technology officer), and raised $2 million in an earlier round. (TheMarker)