TechNation: Pixie Technology Raises $18.5 Million for Its Item-tracking Technology

Redis Labs raises $14 million for data storage technology | DreaMed raises $3.3 million for its diabetes treatment-management technology | Medical Compression Systems laying off 30% of workforce


Pixie Technology raises $18.5 million for its item-tracking technology

Pixie Technology, whose technology helps people keep track of the animate and inanimate objects in their lives, said last week it raised $18.5 million in a round led by Spark Capital, which has financed companies such as Twitter and Oculus. Other investors in the round, which brings to $24 million the amount Pixie has raised since its 2013 founding, include Cedar Fund, OurCrowd and private investors. The company’s Pixie Points are tags you can stick on your keychain, wallet or cat, for example: When they get lost, you use the Pixie app and your cellphone camera to pick up their signal and find them, using augmented-reality navigation. The cash injection will be used to add features to the product, which came on the market last year. (TheMarker Staff)

Redis Labs raises $14 million for data storage technology

Redis Labs, a maker of data-storage software for the cloud, said last week it raised $14 million in a third funding round in order to expand its sales and marketing operations. The proceeds will also be used to create a platform for developers. Bain Capital Ventures of the United States and Israel’s Carmel Ventures led the round, which brings the startup’s total fundraising since it was formed in 2011 to $42 million. The company’s existing investors, including Silicon Valley Bank and Tamar Ventures managing partner Zohar Gilon, also participated in the round. Founded by CEO Ofer Bengal and Chief Technology Officer Yiftach Shoolman, Redis employs 100 people, half in Israel and half in Boston. Separately, the company said it had added 600 new corporate customers in the first half of 2016, to about 6,200 in finance, retail, media, communications and transportation. Redis Labs is a commercial supplier of the open-source Redis database platform. (Eliran Rubin)

DreaMed raises $3.3 million for its diabetes treatment-management technology

DreaMed Diabetes, whose software helps determine the optimum insulin treatment for people with diabetes, said yesterday it had raised $3.3 million from the Russian oligarch Roman Abramovich and an unnamed strategic investor. The round brings to $9 million the amount raised by the startup since it was founded two years ago, but the company seeks to expand the current round by another $4 million. It said it would use the proceeds to further develop its Advisor decision-support technology platform, which analyzes data on dosing and blood glucose, along with patient reporting, and processes it with learning algorithms to emulate the way endocrinologists evaluate their patients to advise on optimum dosages. In February, DreaMed won the Leona M. and Harry B. Helmsley Charitable Trust Award for its technology and awarded a $3.4 million grant toward an international clinical study, along with Glooko, a maker of mobile and web applications for diabetes management. (Ruti Levy)

Medical Compression Systems laying off 30% of workforce

Medical Compression Systems laying off 30% of its staff, or 15 people, after and shutting its research and development operations in Israel and the United States after a key U.S. government agency declined to approve insurance coverage for its ActiveCare+SFT product for home use. But the company told the Tel Aviv Stock Exchange on Sunday that it was in talks for an unnamed overseas company to distribute its products and perhaps eventually to buy out the company altogether. Medical Compression’s ActiveCare product is a noninvasive solution for the prevention of deep vein thrombosis through the gentle application of compression to the patient’s legs. The compression increases the speed of blood flow in the veins and reducing the risk of clot formation without the use of drugs. Shares of Medical Compression, which is backed by biomed investor Mori Arkin’s Accelmed fund, closed down 4% to 1.76 shekels (45 cents). (Yoram Gabison)