TechNation: iAngels Raises $15 Million for Startup Investments

Taiwan’s GMobi buys mobile-ad startup MassiveImpact; Foresight moves forward with accident-prevention tests.

Shelly Hod Moyal and Mor Assia of iAngels.
Oren Biran

iAngels raises $15 million for startup investments

iAngels, an angel-investment platform that enables accredited investors to co-invest with prominent angel investors in Israeli startups, has raised $15 million from European, Asian and U.S. financial institutions. iAngels has put $20 million into 63 startups in the areas of fintech, enterprise software, artificial intelligence, smart cities, cyber security and IoT. The announcement takes the total capital raised by the investment company to $50 million, in the three years since it was founded by Shelly Hod Moyal and Mor Assia. The iAngels model allows clients to choose from companies vetted by its partners, for investments of $10,000 or more. The new fund will act as a co-investor, putting between $250,000 and $1 million into early-stage portfolio startups. “The fund was formed to provide a supportive home for promising startups at the outset of their growth, to answer not just their funding needs, but to accompany them through their various stages of development, regarding strategy, growth, and future funding rounds,” Assia said. (Eliran Rubin)

Taiwan’s GMobi buys Israeli mobile-ad startup MassiveImpact

Taiwan’s General Mobile Corporation has acquired MassiveImpact, an Israeli advertising platform specializing in social media promotion of mobile applications. The Taiwanese company offered no details about the terms, but one foreign news site said it came after a year and a half of negotiations and includes both cash and stock. GMobi said the acquisition would give its app-developer customers a wider and more comprehensive advertising platform that includes web, mobile and social channels with MassiveImpact’s flagship TargetAdLive product. MassiveImpact claims one billion users in 190 countries and is a leading player in China’s mobile ad market. It counts among its customers Citibank, the American Insurance Association and the Chinese companies Tencent and Baidu. Tel Aviv-based MassiveImpact was founded by CEO Sephi Shapira and Eliezer Inbar in 2007 and has offices in New York and Tapei. (Ruti Levy)

Foresight moves forward with accident-prevention tests

Foresight, whose Eyes-On 3-D camera technology is designed to reduce road accidents, is testing a system that uses GPS to identify dangers that drivers can’t see and send alerts to their smartphones. The company last week tested the system to see whether it prevented collisions between a vehicle and a pedestrian and collisions between two moving vehicles. This week the company expanded the test to include identifying stationary vehicles that the driver could crash into and issue a smartphone alert with enough time to act even at speeds of up to 120 kilometers an hour. Foresight’s next tests will examine whether Eyes-On can work in situations of up to 20 vehicles. “Our goal is to reduce the number of road accidents by 50%,” said CEO Haim Siboni. Traded on the Tel Aviv Stock Exchange, Foresight aims for a Nasdaq listing by the end of the year, he said. (Guy Erez)

A-listers fight cellular antennas near their luxury homes

Partner Communications and Hot Telecom are contending with a batch of celebrity and well-heeled residents of the luxury Neeman Towers in Tel Aviv who oppose the two company’s installing cellular antennas near their building. Opponents include former President Shimon Peres, Miss Israel 1988 Shirley Ben-Mordechay, former Defense Minister Yitzhak Mordechai and a host of high-powered lawyers. “We’ve asked that the antenna be moved just a little bit but so far it’s been a ‘dialogue of the deaf,’” said Oren Shachor, a complainant in the case who is a retired Israeli army general and negotiator. The residents are threatening not only a mass boycott of the two companies’ services but legal action to fight what they said would be a drop in the value of their homes due to the health risks of the antennas. Another resident, fighter pilot Yitzhak Nir, cited research showing there was a “reasonable suspicion” that antennas are a risk for young children and that Israeli safety standards are outdated. (Zvi Zrahiya)