Permira to acquire control of BioCatch at $1.3B valuation + Investing in Cybersecurity

A weekly selection of news and investment opportunities from OurCrowd, the global venture investing platform

Permira to acquire control of BioCatch at $1.3B valuation

UK-based private equity firm Permira is acquiring a majority position in OurCrowd portfolio company BioCatch at a $1.3B valuation, as reported in Bloomberg , Calcalist , Globes , and TechCrunch . Existing shareholders Sapphire Ventures and Macquarie Capital, who became shareholders in 2023, will also increase their investments. BioCatch is the global leader in digital fraud detection and financial crime prevention, using technology powered by behavioral biometric intelligence. The company ended 2023 with 49% ARR growth, surpassing the $100M ARR milestone and attaining EBITDA profitability. OurCrowd invested nearly $20M in BioCatch in eight funding rounds starting in 2014.?

Startup of the Week

SAM Seamless Network: IoT security trusted by Verizon, Virgin Media

SAM Seamless Network , an Israeli startup headed by a former officer in Israel’s elite 8200 military intelligence cyber unit, is protecting 500M connected devices in more than seven million homes and businesses around the world. The company’s platform secures networks provided by some of the largest telecommunication companies in the world including Verizon in the US, Virgin Media in the UK, Orange in Belgium, Bezeq in Israel, and other major European providers. In the age of the internet of things (IoT), millions of smart devices from garage doors to smart watches have access to private Wi-Fi but many were designed without any attention to security. Once hacked, they can provide a gateway into home and business networks where cyber criminals can steal personal information and hold entire companies to ransom. “In the US, an average household has 22 connected devices,” says Sivan Rauscher, a former officer in the IDF’s famed 8200 Military Intelligence unit and SAM’s Co-founder and CEO. “We record an average of 16 attacks a day on every network,” she says. OurCrowd is leading SAM’s Series C investment round.?

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May 9 Online

Investing in Cybersecurity: Defending Businesses and Homes

The cost of cyber attacks reached an estimated $8T worldwide in 2023, affecting every industry from AgTech to MedTech, and millions of homes. Join us online on Thursday, May 9 to hear from cybersecurity experts at ITsMine, SAM Seamless Network and Perception Point – some of the OurCrowd startups on the frontline of this ongoing war to keep the online world safe from cyber crime. They will be joined by experts from Google Cloud and the Tony Blair Institute to discuss the growing threat from bad actors in the cyber world and the best prospects for investors in the cybersecurity field.

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IMDT, Hailo partner to create cutting-edge AI vision system

IMDT, a leading provider of AI-powered vision products and systems, and Hailo , OurCrowd’s provider of top-performing AI processors for edge devices, created a new partnership to integrate the Hailo-8 AI acceleration module into IMDT’s platform. The partnership will provide customers with cutting-edge, ready-to-use AI vision technology that improves efficiency, connectivity, and cost-effectiveness, specifically designed for real-time AI applications such as robotics, autonomous guided vehicles, smart cities, and security systems. The new system offers impressive performance in a cost-effective, small form factor platform, and enables full customization for camera sensors and communication ports. Hailo has just closed a $120M Series C funding round. A small remaining allocation in this round is available exclusively to OurCrowd investors for a limited period. More information is available under NDA.

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A strong blue and white link in the automotive supply chain

Israel has come a long way since it first attempted to create a domestic automobile in the 1960s. The Susita (“Little Horse”) became famous not for speed or performance, but for being eaten by camels who were rumored to graze on the fiberglass bodywork if it was left parked overnight in the desert. Today’s cars are data centers on wheels, containing from 1,000 to 3,000 semiconductor chips. Israel’s expertise in chip design and manufacture, combined with its world-class vision and collision-avoidance technology led by Mobileye, means that it is now a critical link in the global automotive supply chain. Major auto manufacturers are impressed by the resilience of Israel’s tech sector which has continued to supply goods and services despite the disruption caused by the Hamas massacre on Oct. 7 and the subsequent fighting with Hamas, Hezbollah, and Iran. Read more in my new ‘Investors on the Frontlines ’ column.

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FDA clears AEYE Health’s AI-powered diabetic retinopathy

AEYE Health , an OurCrowd portfolio company pioneering next-generation AI retinal imaging and diagnostics, received the first FDA clearance for a fully autonomous AI that diagnoses referable diabetic retinopathy from retinal images obtained by a handheld camera. AEYE’s Diagnostic Screening (AEYE-DS) technology is already cleared by the FDA and commercially available with a tabletop imaging device and will now become the first and only AI solution to enable autonomous screening anywhere using the Optomed Aurora portable handheld device. AEYE-DS is also the only system that screens patients using just one image per eye with over 99% imageability.

BlueGreen removes ~13K tonnes of CO2 from Utah reservoir

Net Blue?, the carbon removal technology developed by OurCrowd carbon capture and environmental pioneer BlueGreen Water Technologies advanced the fight against climate change with the first verified removal of CO2 via harmful algal bloom remediation. BlueGreen’s scientists successfully removed 12,913 tonnes of carbon dioxide equivalent (CO2e) during its remediation of harmful algal blooms in Utah’s Mantua Reservoir, as verified by environmental consultant Earthood. “This is an important milestone in our efforts toward delivering swift and significant climate action while protecting our freshwater resources,” says Eyal Harel, CEO of BlueGreen.

1M downloads for D-ID’s AI video generation mobile app in five months

Creative Reality Studio, the mobile app that generates AI-powered “digital humans” created by OurCrowd portfolio company D-ID , notched up more than one million downloads worldwide in five months. Available on Google Play and iOS, the app creates lifelike AI-powered digital people from a single image with accompanying scripts in 120 languages. 80% of users created a talking, moving avatar from their own still images. “This is the magic of AI's migration to mobile – complete democratization of AI video production capabilities, available on-the-go to anyone with a mobile device,” says Gil Perry, Co-founder and CEO of D-ID.?

Nexa3D, KVG scale defense manufacturing capabilities for US, allies

KVG, a global provider of mission support and logistics, has added 15 High-Speed Extrusion (HSE?) series 3D printers from Nexa3D , OurCrowd’s ultrafast 3D printing and digital manufacturing pioneer, to its manufacturing portfolio. KVG deployed HSE units to allied nations including Ukraine in 2023. The significant acquisition of Nexa3D printers enables the production of high-requirement, precision components for military and defense applications at the point of need around the world. “Collaboration and agile platforms are key to maintaining a strategic advantage,” says John Boyer, Founder and CEO of KVG. “The speed, precision, and versatility of these printers will greatly enhance our capabilities and support our commitment to exceptional service in mission-critical situations.”

Sayata unveils AI-powered risk engine for small underwriters

Sayata , an OurCrowd leader in innovative insurance solutions for small and medium business risk, launched the Sayata Risk Engine: an AI-powered platform that transforms the process by which insurance carriers and managing general agents assess and underwrite risk. The platform uses sophisticated AI to flag specific high-risk accounts that are expected to drive up loss ratios. “Our team of experts in AI, data, actuarial sciences, and insurance underwriting worked tirelessly to develop the Sayata Risk Engine with a singular focus: to provide insurers with a strategic advantage,” says Asaf Lifshitz, CEO of Sayata. “We offer a safety net that enables our partners to broaden their risk appetite while enhancing their overall profitability.”

Morphisec launches anti-ransomware assurance suite

Morphisec , OurCrowd’s provider of prevention-first cybersecurity software, launched its Anti-Ransomware Assurance Suite to help organizations reduce exposure to cyber risk, prevent advanced threats, and ensure optimal anti-ransomware defense. Powered by Automated Moving Target Defense (AMTD), the platform helps organizations adapt, protect and defend with a tri-layered guard against ransomware. “Current exposure management tools and technologies lack the proactive and preventative capabilities that teams need to effectively prioritize vulnerability remediation,” says Ron Reinfeld, CEO of Morphisec. “Optimized exposure management is key to achieving resiliency.”

Checkout-free Zippin stores boost NBA sales

NBA teams saw significant boosts in sales this season – and reduced transaction times for fans – by adopting frictionless shopping technology from OurCrowd portfolio company Zippin at their venues, Rob Schaefer reports for Sports Business Journal . Zippin, which has locations across nine NBA arenas, reported that those stores served 171,552 customers, generated $2.5M in sales and averaged 52 seconds per transaction during the regular season. Four locations in the Pacers' Gainbridge Fieldhouse were found to achieve sales 240% higher than nearby traditional drink stands.

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More than 1,800 high-tech jobs worldwide

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About this Newsletter

Startup Beat?is a weekly selection of news and investment opportunities from?OurCrowd , the global venture investing platform.

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OurCrowd is a global venture investing platform. To date we have more than $2.3 billion in commitments, 235,000 registered investors, 460 portfolio companies, 57 venture funds and 65 exits.

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