Israeli Startups Raise Over $125 Million This Week

Israeli startups have raised about $950 million so far this quarter, including the most recent announcements.

Eliran Rubin
Inbal Orpaz
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A Gett cab, formerly known as GetTaxi.
A Gett cab, formerly known as GetTaxi.Credit: Eyal Toueg
Eliran Rubin
Inbal Orpaz

Israeli startups have raised more than $125 million this week, with SundaySky, Trax Image Recognition, Imperium and Weka.IO all closing multimillion-dollar fundraising rounds.

Fundraising by Israeli startups is still going strong, despite a slowdown in the United States. Israeli startups have raised about $950 million so far this quarter, including the most recent announcements. This includes a $300 million round by ride-hailing app Gett, and a $100 million round by another ride-hailing startup, Via.

SundaySky, which develops a program that automatically builds personally adapted movies for customers in real time, stated yesterday that it had completed a $30 million fundraising round. The round was led by private equity fund Veolia and NTT Docomo Ventures, and brings the company’s total funds raised to $67 million.

SundaySky’s customers include banks, insurance companies and electronic trade companies, including Trip Advisor, AT&T and Citi Bank, which use the company’s product to communicate with customers via videos adapted based on customers statistics as well as creative decisions. Videos can demonstrate to customers how to read their online bank statements, for instance.

The company, founded in 2007, has 130 employees, including 85 at its center in Israel. It intends to use the money to expand its product-development center, and intends to hire another 15 employees.

On Tuesday, Israeli-Singaporean company Trax Image Recognition, a maker of image recognition products for retail, said it raised $40 million from existing shareholders to support growth, new product development and innovation.

Trax is headquartered in Singapore and has a 130-person research and development center in Israel. It said it would use the funds to expand its global operations with a focus on North America and on a new product line for top-tier retailers. The company, founded in 2010, has raised $78 million from Singapore venture capital fund Broad Peak and other private investors.

Trax analyzes product placement on retailers’ shelves and enables makers of consumer goods to determine how they can get better visibility. Its customers include Coca-Cola, AB InBev, Heineken, Nestle and Henkel.

Also Tuesday, American-Israeli cyber company Zimperium announced it had completed a $25-million fundraising round. Zimperium develops a program that enables organizations to manage cyber threats to mobile devices and applications.

This is the company’s third fundraising round, and it was led by private equity fund Warburg Pincus. It has raised a total of $45 million, including the current round.

It intends to use the funds to bring in new customers and to improve its cooperation with cellular service providers. Its current partners include Deutsche Telekom.

The company made headlines last week when a new cell phone with the company’s threat protection software built into it was released by Sirin Labs. The phone has a list price of 54,000 shekels ($14,000).

In addition, Weka.IO announced on Tuesday that it had closed its second financing round. Weka.IO is an Israeli startup whose product simplifies enterprise and cloud storage.

The fundraising round was led by chipmaker Qualcomm, Gemini Israel Ventures, U.S. fund WRV, Norwest Venture Partners and private investors.

Weka.IO did not say how much it raised in this fundraising round, but stated it has raised $32 million to date.

The company, founded in 2013, intends to use the money from the most recent round to speed up its product launch and expand its sales and marketing team in the United States. It also intends to expand its development teams in Tel Aviv and San Jose, California.

Last week, Israeli startups WalkMe and EarlySense announced that they had raised a combined $75 million in capital. WalkMe, whose platform guides users through online processes, said it raised $50 million, bringing its total capital raised to $92.5 million. Its customers include Kimberly-Clark, Stanley Black & Decker and SAP.

EarlySense, which makes an under-mattress sensor that monitors patients’ vital signs, announced that it has raised $25 million, bringing its total to $100 million. Its devices are used at 50 hospitals in the United States, Europe and Asia.

With reporting by Reuters.