TechNation: U.S.-Israeli AI Startup Sisense Raises Another $80 Million

Send in e-mailSend in e-mail
Send in e-mailSend in e-mail
Sisensee founder Eldad farkash, right, and CEO Amir Orad.
Sisensee founder Eldad farkash, right, and CEO Amir Orad.Credit: Courtesy

U.S.-Israeli AI startup Sisense raises another $80 million

Sisense, a U.S.-Israeli startup that uses artificial intelligence to analyze data, on Wednesday said it had raised a giant $80 million investment from an investor group led by New-York based Insight Venture Partners. The money, which brings SiSense’s total haul since it was formed in 2004 to approximately $200 million, will be used to expand global operations and expand the size and scope of its AI innovation lab, the company said. Sisense’s platform analyzes data for businesses, providing insights in a variety of formats, like mobile apps and voice assistants like Amazon’s Alexa and the Google Assistant. Sisense has more than 450 employees at its New York headquarters, and in Tel Aviv, Kiev, Tokyo and Arizona offices. Other investors include Battery Ventures, Bessemer Venture Partners, DFJ Venture Capital, Genesis Partners, and Opus Capital. (Eliran Rubin)

IAI in tie-up with Britain’s Effective to make space drones

Israel Aerospace Industries and U.K.-based Effective Space said on Wednesday they signed a deal that makes IAI the primary contractor for Effective’s Space Drone spacecraft. In addition, state-owned IAI said it planned to make an unspecified equity investment in Effective. Both companies have been jointly working on the spacecraft design for more than a year, they noted. Effective Space, founded in 2013, is developing a small spacecraft to extend the life of satellites in orbit. It signed its first contract in 2017 with a satellite operator for the launch of two Space Drone spacecraft in 2020 to extend the life of two existing satellites, which is expected to generate revenue of more than $100 million. (Reuters and TheMarker Staff)

Israel’s Flytrex offering snack deliveries by drone on U.S. golf course

Flytrex, an Israeli developer of drone-delivery systems, will enable a North Dakota golf course to bring refreshments to players while they are playing, CNN reports. Starting this Saturday, golfers at King’s Walk Golf Course in Grand Forks will be able to order snacks and drinks by an app and watch as the Flytrex drone lowers their snack to them on a rope about 10 minutes later – all for a charge of just $3. Like many golf courses, King’s Walk has an employee who roams the area in a beverage cart, which can mean a wait as long as an hour. “Wherever you are, you should be able to get what you want within a few minutes,” Yariv Bash, CEO of FlyTrex told CNN. “Why wait?” For the golf course, the novelty and convenience of drone deliveries is a way to stave off declining membership, CNN said. (TheMarker Staff)

Ex-police chief Yohanan Danino investing in cybersecurity startups

Yohanan Danino, a former chief of the Israel Police, has begun investing in cybersecurity startups since stepping down as chairman of Migdal Insurance, TheMarker has learned. His first investment is Surance, a startup that offers a risk-prediction model and expertise in cybersecurity that enables insurers to facilitate digital sales, automatic underwriting and digital claims processing on cyber insurance for the internet of things. Using an app downloadable to a user’s smartphone, the company’s Home Safety Net scans the home’s connected devices, provides alerts, recommends ways to avoid threats, and offers personalized cyber insurance that covers physical and media damages. (Assa Sasson)