TechNation / Text-to-video Startup Wibbitz Raises $8m

Glilot raises $70 million for second VC fund; OrthosSpace lines up $8 million in capital.

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The Wibbitz team.Credit: Daniel Bar-On

Glilot raises $70 million for second VC fund

Glilot Capital Partners, an Israeli venture capital fund investing in early-stage cyber and enterprise software startups, said last week it raised $77 million for its Glilot II fund, more than the $60 million to $70 million it had expected. The round came just four years after the launch of the $30 million Glilot I fund. Glilot said its second fund would invest in seed- and early-stage oftware companies with a particular focus in cybersecurity and enterprise software, and had already completed its first investment. It said the capital was raised from investors in the United States, Europe, Asia Pacific, Israel and South Africa, including Bank Hapoalim, the first venture capital investment for Israel’s largest bank. (Inbal Orpaz)

Text-to-video startup Wibbitz raises $8m

Wibbitz, whose text-to-video technology enables publishers to quickly repackage text content into video summaries within seconds, said last week it raised $8 million to expand into the U.S. market. The round was led by NantMobile, which was founded by the U.S. billionaire physician and entrepreneur Patrick Soon-Shiong, and was joined by existing investors Horizon Ventures, Lool ventures, Initial Capital and Kima Ventures. The startup said it would use the proceeds to hire about 20 new employees within the next few months at its U.S. headquarters in New York’s financial district. Wibbitz, which was founded in Tel Aviv in 2011 and has raised $11 million to date, said it would keep its research and development and engineering teams in Israel. . (Inbal Orpaz)

OrthosSpace lines up $8 million in capital

OrthoSpace, a Caesarea-based startup that has developed technology for treating tears of the rotator cuff, said last week it raised capital from investors led by HealthpointCapital. OrthoSpace didn’t say how much it raised but sources said it was $8 million, adding that it will pay for market adoption, clinical studies and entry into emerging markets. Healthpoint was joined by existing investors, medical technology maker Smith & Nephew and the venture capital investor TriVentures. The company’s flagship product, InSpace, is designed to treat severe rotator cuff tears using an orthopedic biodegradable balloon system. (Inbal Orpaz)