Sunday, January 31, 2016

Singapore’s Temasek backs Israel $150m VC fund

Temasek Holdings, a Singapore government investment company, is in the final stretch of raising a $150 million fund to invest in mature Israeli high-tech company.

The new fund, called Red Dot, which is nicknamed for the tony city state, plans to invest between $10 million and $15 million in each company in its portfolio.

Yoram Oren, who was behind the Vertex Ventures fund formed in 1997 with Singaporean capital, will be chairman of the new fund. It will act as a sister investor to Vertex, which will continue to invest in younger startups.


Sunday, January 24, 2016

Chinese fund CEIIF to Invest in Israel Cyber Company ImVision

Chinese venture capital fund, CreditEase Israel Innovation Fund (CEIIF) participated in a $4mm investment round in the Israeli cyber security company ImVision Technologies. Also participated in the round Israeli venture capital Pitango.

mVision is a cyber security startup company that operates in NFV/SDN environments. The company quickly became a market leader for anomaly detection and isolation. This was based on unique Correlative Behavioral Analysis algorithms that specializes in service awareness across the entire network.

The company was established in 2014 by Sharon Mantin, Yossi Barshishat and Dr. Eli Plotnik and has 14 employees. The company will use the funds to scale up development of their products. ImVision raised to-date $500,000 in seeds funds.


Thursday, January 21, 2016

Hong Kong VC Arbor Ventures to Invests in Israeli Startup TravelersBox

Israel's TravelersBox, which allows travellers to convert leftover foreign currency into digital currency, said on Thursday it raised $10 million led by Arbor Ventures.

Based in Hong Kong, Arbor Ventures focuses on the intersection of big data, financial services and digital commerce.

Also participated in the round existing investors such as Pitango Venture Capital, IPE Ventures, Pereg Ventures, iAngels and Global Blue.

The company has raised $15.5 million to date. TravelersBox operates kiosks in airports throughout the world and has facilitated several million transactions to date. Travellers can convert foreign change and bills that can be deposited into a PayPal account, turned into gift cards for retailers or used to make charitable donations.

The new funds will enable TravelersBox to grow, specifically in Asia as its next deployments are expected to be in Japan, India and New Zealand. The company plans to deploy an additional 300 kiosks this year.

It also aims to accelerate product development, including an application that will enable consumers to convert their change into digital currency in their home country when shopping at airport-based retail outlets throughout the world.


Sunday, January 10, 2016

Chinese VC to Invest in Pi-Cardia US$10m Round

Pi-Cardia Ltd., the Rehovot, Israel based company, annonced today that it has completed a $10 million financing including participation by a new strategic investor. Also participating in the round, are Italian funds Innogest and Fondo Atlante Ventures, Chinese fund VI-Ventures and existing investors in the company, including Clal Biotechnology Industries and Anatomy Medical Technologies Fund.

Pi-Cardia, founded in 2009, developed the Leaflex™ Catheter System - a novel non-implant based technology for treating patients with aortic valve stenosis. The Leaflex™ is a low-profile trans-femoral catheter incorporating unique Nitinol elements, which are optimized for delivering mechanical energy to create substantial fractures in valve calcification. These fractures help restore leaflet mobility and improve valve hemodynamics using a short and simple procedure without the need to implant a new valve.

The design of the Leaflex™ was based on the company's extensive research in the last few years on calcium growth patterns in hundreds of human aortic valves. Pi-Cardia's Leaflex™ technology and mechanism of action are fundamentally different from those of balloon-based (BAV) devices, in that instead of simply dilating the valve, which might lend itself to the short-term recoil seen in patients treated with BAV, the Leaflex™ creates multiple targeted fractures at optimal locations of valve calcification thereby restoring leaflet mobility. This unique fracturing method, while preserving the native valve integrity, may facilitate valve replacement therapies, as well as pave the way for providing durable treatment without implanting a new valve.

Pi-Cardia aims to expand the treatment options in the rapidly growing multi-billion dollar market currently dominated by surgical or trans-catheter aortic valve replacement (SAVR/TAVR). "As much as TAVR improves and becomes a routine procedure in lower surgical risk patients, it is still a relatively complex and expensive implantation procedure, which restricts its use to specific centers and specific cases" says Erez Golan, Pi-Cardia's Founder and CEO. "In today's budget sensitive environment, waiting lists for TAVR are common even in the most developed countries, let alone in emerging markets, where TAVR may not be a viable option for a while." 

"Besides the typical case of an eighty-five-year-old patient with a tri-leaflet aortic valve, whom I will simply have more options to offer, there are also some common anatomies such as bicuspid aortic valves, where TAVR delivers suboptimal results," says Dr. Ganesh Manoharan, Consultant Cardiologist at the Royal Victoria Hospital, Belfast. "We believe that if a simpler, lower-cost alternative existed, which could offer patients a reasonable period of time without symptoms, such a technique could have an important role alongside TAVR."

In 2015, Pi-Cardia successfully completed enrolling the first set of patients in its FIM study in Europe, demonstrating safety and feasibility of the procedure. The funds raised would allow the company to complete the development of a second generation device, and to continue the clinical studies for showing its safety and performance, towards CE-Mark.




Hengtong GEOC To Invest In Israeli Medical Company Insightec

Israeli medical company InSightec, which has developed a platform for non-invasive therapy for the treatment of early detected cancerous tumors and functional diseases of the nervous system using ultrasound, raised US$22m.

The current investment round is the fourth investment round in the company.

The investors were Boston MedTech Advisors, Elbit Imaging, GE Healthcare, York Capital and Chinese VC fund Hengtong GEOC.

To date, the raised US$254mm, most of the amount of Elbit Medical.

Hengtong GEOC, based in Shanghai, China, is a Sino-Israel fund established in 2013 aiming to invest in Israeli startups and help them to penetrate into Chinese market.

InSightec is the pioneer and global leader in MR guided focused ultrasound technology. Founded in 1999 by GE Healthcare (then GE Medical Systems) and Elbit Medical Imaging its mission is to transform its MR guided Focused Ultrasound (MRgFUS) into a clinically viable technology.

Insightec technology currently found in 120 leading medical centers around the world, can be likened to focusing sunlight through a lens: only the center, where all the waves converge, created enough heat to destroy the tumor, while minimizing damage to adjacent organs damage prevention. Its purpose is to replace surgical procedure Non-invasive treatment that allows the patient to return to his speed.