TechNation: Startup Seeking to Measure Trump’s Risk to Capital Markets Raises $4 Million

Biopharmaceutical firm Eloxx raises $24m | Digital token project Bancor raises $147m

U.S. President Donald Trump speaks during a Cabinet meeting in the Cabinet Room of the White House in Washington, June 12, 2017.
Andrew Harnik/AP

Startup seeking to measure Trump’s risk to capital markets raises $4 million

Could U.S. President Donald Trump take down the entire stock market? GeoQuant, an Israeli startup that seeks to measure geopolitical risks, raised $4 million, it announced on Wednesday. The funding round was led by the Aleph venture capital fund and included the XL Innovative fund, an early investor in Israeli insurance startup Lemonade. GeoQuant is developing an engine to scans news sites around the world in an effort to identify potential shocks coming from shifting policies, regulations and political situations and grade countries based on their risk to business there. Such risks could include the effects of an investigation into Trump on the U.S. capital markets, or the effects of China’s actions in the South China Sea on oil prices. Initially, the company’s program is learning to make decisions based on input from human analysts and experts, and is scanning major news sites in English. Eventually, the engine will also scan social networks, the company states. (Ruti Levy)

Biopharmaceutical firm Eloxx raises $24m

Eloxx Pharmaceuticals, a clinical-stage company developing drugs for genetic diseases, raised $24 million in an investment round led by Catalyst CEL Fund and Israeli life sciences venture capital fund Pontifax, among others, Catalyst said on Wednesday. The Israeli company is seeking treatments for rare genetic diseases caused by mutations such as cystic fibrosis and cystinosis. The company entered into a merger agreement with Sevion Therapeutics on May 31. Eloxx will become a wholly owned subsidiary of Sevion, which will change its name to Eloxx and intends to apply to have its shares listed on Nasdaq. (Reuters)

Digital token project Bancor raises $147m

The Bancor token project raised about $147 million on Monday in an initial coin offering, making it the second-largest fundraising campaign in the blockchain industry, according to the Bancor website. Bancor, an Israeli company, enables the creation of so-called smart tokens, which can hold one or more tokens or digital currencies in reserve. It also allows any party to instantly purchase or liquidate them directly via smart contract, without any counter party and without relying on exchanges. Smart contracts are self-executing transactions. The Bancor website said the offering has raised 396,720 ether, the digital currency for the Ethereum network. The Ethereum currency last traded at $369.62, according to Etherscan. (Reuters)