OurCrowd companies report $62M funding in a single week
A weekly selection of news and investment opportunities from OurCrowd, the global venture investing platform
Startup of the Week
Sotero: Protecting all data, anywhere, all the time
Hybrid work practices have become an integral part of the business world since the coronavirus pandemic forced employees to stay at home. But working remotely is a headache when it comes to network security. There is a direct correlation between the rise of cloud computing and instances of data hacking and ransomware attacks. Sotero has created the first cloud-native, data security platform that protects all enterprise data regardless of location in one easy-to-manage environment. Its patented encryption algorithms and proprietary machine learning models query data in their encrypted state and identify malicious access attempts in real time. In June, the company won its first Global InfoSec Award from Cyber Defense magazine. It successfully completed five PoCs for prospects in Finserv, Telco, Pharma and SaaS verticals. Sotero’s $8M extension seed round is still open to OurCrowd investors.
Liquid Instruments raises $28.5M for disruptive electronic testing devices
Liquid Instruments raised $28.5M for technology that upends test and measurement equipment in the electronics industry, Ingrid Lunden reports in TechCrunch. The company’s proprietary software, installed in a single, programmable piece of hardware, replaces multiple testing devices, saving clients tens of thousands of dollars. Its sales are up 4X this year and it has a long list of marquee customers including NASA, Google, Qualcomm, Stanford, Duke, and the US National Institute of Standards and Technology. OurCrowd investors can still participate in this funding round for a limited time alongside co-investors Lockheed Martin Ventures, ANU Connect Ventures and Moelis Australia’s Growth Capital Fund.
New meat industry investors back $2.5M ProFuse raise
Three new investors are helping our portfolio company ProFuse realize its vision of producing cost-effective cultured meat, Allen Weiner reports in The Spoon. Green Circle led the $2.5M round joined by Siddhi Capital, a leader in cultivated meat investments, and Kayma, the investment arm of De-Levie, a meat industry specialist. ProFuse produces a supplement that supercharges cultivated meat production, making it more efficient and financially viable. OurCrowd has secured an allocation in this closed funding round, which is still open to investors for a limited time.
Neolithics roots out the bad apples
When it comes to fruits and vegetables, there’s more than meets the eye. It’s what farmers and stores don’t see that could be the key to saving billions of dollars. The UN estimates that nearly half of the fruits and vegetables produced worldwide are wasted each year. In the US, nearly 30% of all food, worth approximately $48.3B, is thrown away annually. AgTech startup Neolithics uses hyperspectral cameras to inspect produce from every angle, Noa Shapira reports in the Times of Israel. The system then uses AI to compare each scan to a massive trove of images, determining which item meets the standards for firmness, predicted shelf life, color or other properties. This allows retailers to judge which items are closer to spoiling and should be sold first, or at a discount, and which will stay fresh longer. The company has an agreement with Israel’s largest food retailer, and is in negotiations to conduct PoCs with major food giants in the US and Europe. OurCrowd is participating in Neolithics’ current funding round at a 20% discount.
India’s JITO Angel Network invests in BetterSeeds
The JITO ANGEL NETWORK (JAN) , the only global community-based Angel network in India, has invested in BetterSeeds via the OurCrowd platform, Entrepreneur India reports. This is JAN's first AgriTech investment and its third investment in a company outside India. BetterSeeds uses the world's most advanced gene editing technology to develop seeds that will grow into superior crops that can adapt to climate change, with better nutritional values and bigger yields. “We can't be prouder to support BetterSeeds' innovative solution,” says SunilKumar (Singhvi) , Vice Chairman, JITO Angel Network. “The breakthrough CRISPR technology that BetterSeeds uses to naturally edit genome systems could forever alter crop productivity, and be the answer to solving food shortages and caloric deficiency globally.” BetterSeeds’ $7M funding round is still available to OurCrowd investors.
Canada’s NEO Connect offers OC50 fund to clients?
Clients of the Canadian distribution platform NEO Connect can now invest in the OC50VII fund, OurCrowd’s flagship diversified investment vehicle. The platform is used by institutional investors and brokers, and is part of NEO, a group of established FinTech companies that provide capital markets infrastructure designed for and led by the industry. “OurCrowd’s OC50 campaign on NEO Connect is a convenient way to round out stock picking in private companies while managing risk,” says Erik Sloane, NEO’s Chief Revenue Officer.
Platinum Auto Finance uses Lightico to cut loan process time by 80%
US auto lender Platinum Auto Finance handles hundreds of deals a month but the company’s team is bogged down in paperwork, collecting signatures, driver’s licenses and other documents to process new loans - a week-long process. Platinum turned to the Digital Completion platform from Lightico to simplify its service, speed up deal processes and remain competitive. Lightico’s system uses the customer’s smartphone to compile everything from mobile forms to official documents, all with just a few clicks and swipes. “Since implementing Lightico’s solution, Platinum’s deal time has been slashed by 4 days. This allows the services team to be more efficient and resolve all customer requests immediately,” says Armando Hidalgo, Director of Servicing at Platinum Auto Finance. Lightico is currently funding on the OurCrowd website.
领英推荐
InsideTracker raises $15M for healthspan optimization tech
Our portfolio company InsideTracker raised $15M in Series B funding to support its personalized nutrition and healthspan optimization system. The platform analyzes the body's data from blood, DNA and fitness trackers, giving a clear picture of what is going on inside, along with a science-backed action plan for improving the user’s health. “We were blown away by the robust science, exceptional team and phenomenal traction — with tens of thousands of (repeat) users actively using InsideTracker's platform,” says Nadav Berger, General Partner and Co-founder at PeakBridge, which led the round.
Shyft raises $16M Series B, appoints new CEO
Looking to disrupt the global moving industry, our portfolio company Shyft raised $16M in Series B funding. Both OurCrowd and Munich Re Ventures came into the round as new investors, alongside existing investors Inovia Capital and Blumberg Capital. The company’s FinTech-powered marketplace provides a digital infrastructure for the entire moving industry, which reaches $86B a year in the US alone. The company has facilitated more than 300,000 moves with over 800 moving companies and 220 corporations. Shyft also named veteran go-to-market and growth leader Randal Meske as its new Chief Executive Officer.
Visa, Bancorp Bank and DailyPay launch on-demand pay card, app
Friday is a new reloadable prepaid card and app launched by Visa, The Bancorp Bank and our portfolio company DailyPay, which unlocks instant, no-fee, on-demand pay transfers for DailyPay users. Friday gives workers access to their earned pay before payday to make in-store and online purchases, with no minimum balance requirement or maintenance fees. “With Friday, DailyPay users have more flexibility and control over their financial futures than ever before,” says Kevin Coop, DailyPay’s CEO.?
Tattile’s next-gen smart cameras to feature Hailo processors
Italian automatic number plate recognition specialist Tattile will be using processors made by our portfolio company Hailo to power its next generation of high-end cameras. The SMART+ camera, designed for Intelligent Transport Systems, mobility and smart cities, will have the Hailo-8? AI processor at its core. LPR cameras remain a popular video analytics application for smart cities as they can be easily deployed on highways, toll booths and parking lots to enable fast vehicle identification, congestion control, automatic fare collection and more. “Hailo's AI expertise, extensive collaboration from design to integration, and top-notch solutions made them the perfect partner to help power our next-gen LPR camera line,” says Corrado Franchi, Tattile CEO.
Scopio Labs launches first digital application for bone marrow aspirate imaging
After providing the medical community with unparalleled resolution of blood tests, our MedTech pioneer Scopio Labs is expanding its technology to bone marrow analysis. The company launched its Full-Field Bone Marrow Aspirate Application, the first in the world that enables a complete digital workflow to scan and analyze the liquid part of a person’s bone marrow after extraction. The platform also has integrated an AI-powered decision-support system into its remote analysis features, allowing medical professionals to review the aspirate from any location.????
Oriient’s supermarket challenge comes to Las Vegas
On your carts, get set, go! Our portfolio company Oriient is hosting an interactive contest and demo at Groceryshop 2022, September 19-22 in Las Vegas. The company’s in-store location software service helps shoppers find items in no time. Oriient staffers will be showcasing the technology at Booth #733. Sign up here for a live demo.??
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Startup Beat?is a weekly selection of news and investment opportunities from?OurCrowd, the global venture investing platform.
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Sales Development Representative
10 个月Shyft also fired more than 100 people through a 10 min zoom call in the end of November. Not a single person that worked for them got payed, and Randal just keeps playing dumb and just blocks and ignores every single person that reaches out to him