Stanley Black & Decker Invests in Israeli Wireless Charging Startup Humavox

TechNation | LR Group invests $14 million in Biohouse biomed workspaces near hospitals ■ Pangea buys NIP Global for $30 million

File photo: A Stanley Black & Decker product.
Bloomberg

LR Group invests $14 million in Biohouse biomed workspaces near hospitals

LR Group, which engages in infrastructure, agriculture and hospital projects in Africa, Europe and Asia, announced Wednesday the establishment of the first of three shared workspaces for biotechnology and medical startups near Israeli hospitals. The company said it was investing around $14 million in the chain, to be called LR Biohouse. LR Vice President of Business Development, Yaki Zinger, who founded LR Biohouse, said the centers will provide a home for research and development, business development, fundraising and feasibility analysis for medical and biomedical firms. The new venture’s CEO is Shai Melcer, former director of BioJerusalem at the Jerusalem Development Authority. The first center, at Jerusalem’s Hadassah University Hospital, Ein Karem, will be dedicated next week. It can accommodate dozens of startups. LR Group, which was founded in 1985, is owned by Roy Ben Yami and Ami Lustig and was previously involved in the defense industry. (Eliran Rubin) 

Pangea buys NIP Global for $30 million

Israeli building and engineering firm Pangea Group is buying Israeli biometrics company NIP Global for $30 million, sources told TheMarker. NIP Global’s clients include government population registries, election boards and agencies that issue “smart” identification cards and biometric passports. The company has a staff of 70, about half of whom work out of its Herzliya headquarters and the other half at locations around the world. Emmanuel Antebi founded the company in 1995. Several years later, he brought in the Israeli tech firm Formula as a 70% partner. In 2010, Formula sold its stake back to Antebi for $2.7 million, reflecting a company value of just $3.5 million, but it has since enjoyed major growth and now has estimated annual revenues of $40 to $50 million. In 2016, the Tel Aviv district prosecutor’s office initiated criminal proceedings against the company on allegations that it paid bribes in the southern African country of Lesotho to advance its business interests there. The company said it was the alleged act of someone who was not a company employee, and the case was settled in a plea agreement that included a 4.5 million shekel ($1.3 million) fine and expropriation provision. (Eran Azran)

Stanley Black & Decker invests in Israeli wireless charging startup Humavox 

Stanley Black & Decker, the U.S.-based Fortune 500 tool and storage provider, is investing through its Stanley Ventures affiliate in the Kfar Sava-based Israeli wireless charging startup Humavox, the two companies announced Tuesday. “With Humavox technology, everyday objects can turn into ‘hidden chargers,’ including anything from car cup holders and gym bags, and more. The company’s technology uses near-field radio frequency charging to transform any of such ‘storage instrument/device/object’ into a charger, so that users can keep using their portable electronics fully powered,” the companies said in a statement that did not disclose the amount of Stanley’s investment in the Israeli firm. Humavox was founded in 2010 by CEO Omri Lachman and Vice President of Innovation Asaf Elssibony. (TheMarker)