Wednesday, October 28, 2015

Fosun Invests $25m In Israeli Medical Company Ornim Medical

Chinese conglomerate Fosun Pharma to invest $25 million in the Israeli company that develops a medical device that uses near infrared light and ultrasound waves to monitor hemoglobin oxygen saturation in the brain and microcirculation blood flow in tissue.

Previews investors in Ornim are OrbiMed and GE Medical.

In 2013 Fosun bought Israeli company Alma Lasers for $240 million.

Wednesday, October 21, 2015

Chinese Group Haisco Pharmaceutical To Invest $10 million in Israeli Company Endospan

Xizang Haisco Pharmaceutical Group Co., China second largest medical corporation invests $ 10 million in Endospan, an Israeli company that develops medical devices.

Post money valuation to the company is $100 million.

Existing shareholders in the company also invested in the round, including Accelmed (Mori Arkin's fund), Dr. Uri Geiger, Sequoia Capital Israel and VitaLife. To date the company raised $25 million, mainly from Accelmed and Sequoia.

Haisco Pharmaceuticals will get exclusive rights for distributing the products of Endospan in China.

Endospan transforms the treatment of aneurysms, dissections and other aortic lesions from high-risk, open- surgery to faster, simpler and less invasive procedures and from conventional, double-sided endovascular procedures, to lower invasiveness, percutaneous, single sided interventions.

Endospan was founded in 2009, based in Herzlyia, Israel and has 30 full-time employees.

Thursday, October 15, 2015

Israel Chemicals to Invest $350m in Chinese phosphate JV

Israel Chemicals (TASE: ICL, NYSE: ICL) has announced that it has completed the formation of a joint venture company (YPH JV) with Chinese phosphate producer Yunnan Phosphate Chemicals Group Corporation Ltd. (YPC).

ICL says that the YPH JV, which includes a world-scale phosphate rock mine producing approximately 2.5 million tonnes of phosphate annually and a large-scale phosphate operation, is expected to be a leading player in China's phosphate sector, operating an integrated, world-scale phosphate platform across the value chain. It will include upstream mining, bulk fertilizers and downstream businesses in specialty fertilizers, as well as in specialty phosphates for the food and engineered materials markets.

ICL's announcement says, "The YPH JV represents a key milestone in ICL's "Next Step Forward" strategy by increasing ICL's phosphate platform by more than 50%, securing its long-term reserves and expanding its phosphate end-to-end business model focusing on Asia. The partnership is expected to transform ICL into the world's leading specialty phosphate player and to nearly double its global phosphate market share. The YPH JV is also expected to improve the cost competitiveness of ICL's phosphate operations by providing ICL with access to a low-cost phosphate rock operation with vast reserves, as well as with low-cost phosphoric acid. ICL also sees major potential for phosphates specialties in China, and through the YPH JV it will be well-positioned to capture this opportunity. The YPH JV further adds ammonia-based fertilizers to ICL's portfolio which will enable ICL to serve its customers with a broader suite of solutions."

The YPH JV partners expect to invest about $340 million, on a 50/50 basis over the next five years, building specialty plants and tripling their white phosphoric acid (WPA) capacity. The parties have also agreed to produce and sell WPA in China exclusively through the JV within five years following closing.

In August, 2015, the YPH JV partners established a phosphate R&D platform in Kunming (Yunnan province) which will focus on developing phosphate-based technologies and providing strong technical support for the YPH JV's phosphate business, as well as the parties' respective businesses. Nearly a dozen projects have been initiated since the R&D unit was launched.

The YPH JV will be controlled by ICL, and its results, including assets and liabilities, will be consolidated into ICL's financial reports. ICL will lead the operations of the business and will merge its existing businesses in China into the YPH JV which will be fully integrated into ICL's global businesses and corporate governance and will become a fully operating business unit of ICL.

Ta Shenghua, chairman of Yunnan Yuntianhua, said, "We are very pleased to finalize our strategic relationship with ICL, a global phosphates industry leader. We look forward now to fully integrating Yunnan Yuntianhua's large-scale raw material reserves and infrastructure with ICL's expertise and technologies to create a powerful phosphates player that will conduct activities along the entire value chain - from mining to manufacturing downstream products. Together, Yunnan Yuntianhua and ICL will work to transform the phosphates industry in China and other Asian markets, as well as contribute to Chinese society and industry."

ICL CEO Stefan Borgas said, "Our YPH JV with Yunnan Yuntianhua provides ICL with access to major phosphate reserves and a strong platform from which to build the leading specialty phosphate business in fast-growing Chinese and Asian markets. It also strongly expresses ICL's dedication to meeting the essential needs of China's growing population because the JV will provide specialty fertilizers to China's large agricultural market, specialty phosphate products to many engineered materials markets as well as food additives for Asia's fast growing processed food industry. We look forward to continuing our great relationship with Yunnan Yuntianhua to serve these and other burgeoning Asian markets and to improve the profitability of both parent companies."

The closing occurred following the parties' satisfaction of the closing conditions, including all necessary approvals and ICL's payment of approximately $180 million in consideration of its share of the YPH JV. ICL's 15% investment in YTH (which was also a closing condition) has been preliminarily approved by the PRC Ministry of Commerce and is pending final approval by the China Securities Regulatory Commission (CSRC).

Following the closing of the YPH JV agreement, All of ICL's existing Specialty Phosphates business in China prior to March 25, 2015, will be folded into, and managed by, the YPH JV after a transition period.

Monday, October 5, 2015

Vertex Gets $857m from Temasek, will invest in US, Israel and China

Published on the Straits Times 3/10/2015

Armed with a war chest of US$600 million (S$857 million), Singapore's largest and oldest venture capital firm is going global.

The infusion of cash will allow Vertex Venture Holdings to invest in start-ups in the hot seats of innovation and technological disruption - United States, Israel and China - after having been mainly focused on Singapore and Asia.

Chief executive Chua Kee Lock identified healthcare as a new area of funding in addition to its ongoing interest in technology, media and Internet-based start-ups. The funds will be invested in firms ready to expand with proven products and revenue streams, he told The Straits Times.

Typically, each start-up in this growth phase would receive funding of $2 million or more.

Europe is the only region that has no Vertex presence but Mr Chua said he is looking to open an office there. Vertex's new war chest was the result of an investment from its parent company, Temasek Holdings. Mr Chua said the success Vertex has enjoyed in the past few years gave Temasek and Vertex chairman Teo Ming Kian confidence that it could go global.
The firm's research also showed that top venture capital companies like America's Andreessen Horowitz can make returns of about 30 per cent. There will also be sustained technological disruption in various industries due to a variety of factors, including lower cost of computing and communications, he added. "The challenge for us is, can we benchmark to the best?"
Vertex thinks it can as its return on investment for its last fund of US$250 million was about 30 per cent. This fund has invested about US$190 million in around 30 start-ups in Asia. The rest of the cash will be used for follow-on funding for its portfolio companies.
Vertex was an early investor in luxury e-commerce portal Reebonz and mobile taxi app GrabTaxi. It has publicly listed about four start-ups, including mobile game developer IGG, which was listed in Hong Kong in 2013.
It has also sold another six, including Chinese app distribution platform 91 Wireless, for undisclosed figures.
Mr Chua said with a global network, Vertex can have first dibs on potential billion-dollar start-ups because it will have insight on emerging and disruptive technology trends in the world. This information can be shared across its network, giving the firm an advantage in spotting the potential winners. "Now we'll be able to match our interest with our investments." Vertex's global foray has already begun to pay off.
It will reap a tidy profit when its portfolio company, medical device maker Twelve, which it funded about four months ago for an undisclosed figure, is acquired for US$458 million by medical technology and services company Medtronic. The acquisition was announced in August.
Its global strategy focuses on co-investments with its investment partners in the US, China and Israel.
Vertex has used part of its war chest to make substantial investments in venture funds set up by its partners.
Each fund is between US$120 million and US$200 million.
"We allow our partners to form their own funds, but we also invest in their funds. They get a chance to be their own bosses but they remain part of the Vertex family. This way, the partners can help each other," said Mr Chua.
To align the interests of everyone, a small percentage of the global profit each year will be shared by the 30-man investment team in the Vertex network. 
Mr Chua noted: "This way, the partner in Israel who helps one of us in Singapore will feel that he is contributing to the pot of bonus."

Friday, October 2, 2015

Israeli Cloud security startup Dome9 raises $8.3M

Dome9, a startup with cloud-based software for deploying and managing security configurations on cloud infrastructure, is announcing today an $8.3 million round of funding.

The new capital will enable the company to grow its sales and marketing efforts, and expand its product portfolio for purpose-built cloud security solutions. This new round of funding comes in the wake of the company's tremendous success of its popular cloud security service which currently protects more than 250 enterprise customers.

Dome9 SecOps cloud infrastructure security service protects IaaS deployments. Leveraging cloud-native technologies, Dome9 orchestrates security policies, visualizes security risks, and remediates threats to ensure secure application delivery in the cloud. Among the company's unique services is "Dome9 Clarity" that is trusted by hundreds of enterprises to concisely visualize security policies and maps threats across enterprise clouds over Amazon Web Services (AWS), Windows Azure, IBM/SoftLayer, Google Cloud Platform, and many others.

The company has raised a total of $13 million in funding to date and this new round will primarily be used to accelerate its growth among enterprise cloud users. The Series B round is being led by ORR Partners and includes new Investors JAL Ventures, Pinnacle and Lazarus Israel Opportunity Fund. Existing investor Opus Capital Ventures also participated in the round.

The company announced the addition of several industry heavyweights to its board. Avery More, Founder and Managing Partner of ORR partners, seed investor and board member at SolarEdge (NASDAQ: SEDG) joins the company as Chairman of the Board. He is joined on the board by Joshua Levinberg, Founder and Managing Partner at JAL Ventures, and co-founder of Gilat Satellite Networks (NASDAQ: GILT). Experienced venture investor and Silicon Valley executive, Herb Madan also participated in the round and has joined Dome9's advisory board.

Additionally, the company added Robert (Bob) Darabant as Chief Revenue Officer. An industry veteran with over 20 years of IT security executive experience, Bob has been directly responsible for generating more than $1B in enterprise business as head of sales in companies like NetScreen and Sophos.

"Today's enterprises demand dynamic and active cloud infrastructure security in support of a scalable, high availability, and high performance cloud environment," says Zohar Alon, CEO & Co-Founder at Dome9. "We will continue to deliver to our customers the 'state-of-the-art' ability to identify threats, protect applications, and enforce security policies across public and private enterprise cloud environments."

"I am very glad to join the Dome9 team. The market reached a tipping point where large enterprises are moving substantial parts of their IT infrastructure to IaaS providers (like AWS). These enterprises must have the ability to manage the security and compliance issues involved," says Avery More, Founder and Managing Partner at ORR partners. "Dome9 has the 'best-of-breed' solution in the market for this need. We plan to use the proceeds of this round to dramatically scale our go-to-market execution."

Thursday, October 1, 2015

Singapore Fund Singtel Innov8, JVP, Magma VC To Invest in Israeli Startup Teridion

Teridion, the Israeli based networking company that delivers the fastest internet experience announced general availability of its advanced Global Cloud Network to provide up to 20x performance improvement for end-user generated bi-directional Internet content.

The company’s solution is currently being used by more than 15 companies spanning some of the most bandwidth-demanding applications and services, such as hosting and file sharing, rich media and advertising.

Teridion also announced a total of $20 million in funding, having closed a $15 million Series B round of financing led by Singtel Innov8. Existing investors JVP and Magma also participated in the round. With the general availability of its flagship product and funding, the company will accelerate its go-to-market strategy and grow its team both in the US and internationally.

“The Internet is an incredibly powerful tool, but until now, we have struggled to take full advantage of its capabilities. It’s still common for us to fall victim to slow response times and volatile connections,” said Elad Rave, founder and CEO of Teridion. “We are breaking down these boundaries and providing users with a seamless Internet experience – no matter their location, device or application. It’s our goal for our SaaS customers to be able to generate additional customer loyalty, and the funding and general availability of our product are major steps in this direction.”

Meeting the Demands of Modern Applications and Services

Today’s applications and services need to deliver content to users at unprecedented speeds, without sacrificing quality or reliability. As these technologies continue to advance, the effectiveness of traditional content delivery and WAN optimization approaches are diminishing. Teridion solves this fundamental problem by providing a high performance, reliable Internet experience that addresses the low latency, highly dynamic applications brought to market everyday. Early customer deployments have shown up to 20x improvement in Internet performance, offering an opportunity for organizations to build applications without compromise. With Teridion, businesses achieve new levels of customer engagement and retention, ultimately driving up revenue.

“Enterprise businesses rely on the flexibility of the Egnyte platform to securely share files, collaborate and maintain control over important data, no matter the storage provider, cloud, application or device. We want our customers to be freed from worrying about Internet connectivity or their geographical location," said Kris Lahiri, vice president of operations and chief security officer at Egnyte. “Fast response times and always-on reliability are vital to IT professionals and business users alike, and Teridion helps us consistently deliver high performance across our solutions and services.”

Teridion is able to achieve this speed and reliability on SoftLayer infrastructure from IBM Cloud. Through the IBM Global Entrepreneur Program, IBM Cloud’s startup ecosystem, Teridion has received free mentoring, support and SoftLayer infrastructure via the program’s Catalyst option.

"By supporting startups like Teridion, IBM continues to reinforce its commitment to provide entrepreneurs with the mentoring and cloud technology they need to bring next generation technologies to market quickly,” said Sandy Carter, general manager for IBM Cloud’s ecosystem and developers. “Because IBM Cloud infrastructure is flexible, reliable and globally dispersed, it’s a great foundation for Teridion, which manages a large volume of traffic in order to deliver fast Internet response times to end users around the world.”

Designed for bi-directional, user-generated Internet content, Teridion features:

  • The Teridion Global Cloud Network – Bringing intelligent routing to the cloud. Proprietary algorithms and the Teridion Management System, in conjunction with Teridion Measurement Agents, provide a real-time congestion map of the Internet to find the best possible path, taking into account bandwidth, latency and geography. 
  • High performance, low latency – Up to 20x Internet performance improvements, enabling users to rethink what’s possible online.
  • Unparalleled flexibility – Teridion Cloud Routers are created on demand, providing scalability and enabling users to only pay for the resources consumed. The solution works with the largest cloud providers in the world to ensure the speed and reliability of traffic, without requiring customers to leave their cloud provider. 
  • Bolstered security – Teridion does not cache users’ data, and end-to-end SSL encryption with no termination secures data across the network. 
  • Simple onboarding – With no hardware or software to install, and quick and easy provisioning, a typical cloud customer can be connected to the network in under an hour.