Three Israeli start-ups raise $180m. in just 24 hours

By
November 9, 2017 22:17

International venture capitalists are flocking to Israel’s burgeoning hi-tech scene as a place to invest.

1 minute read.



money

Shekel money bills. (photo credit: REUTERS)

Three Israeli or Israeli-founded startups – Compass, Yotpo and Mitrassist – collectively raised more than $180 million in one day, a sign that international venture capitalists are flocking to Israel’s burgeoning hi-tech scene as a place to invest.

Compass, whose software introduces buyers and renters to real estate brokers, said that it raised $100m. from Fidelity Investments on Wednesday, and also from prior investors IVP and Wellington Management. To date, the company has raised $325m. since its founding four years ago.

Be the first to know - Join our Facebook page.


Based in New York, Compass has a market valuation of $1.8b. and its CEO, Ori Allon, 37, owns the Hapoel Jerusalem soccer team.

Tel Aviv-based Yotpo, which allows brands to curate and respond to user-generated marketing content, announced on Twitter that it raised $51m. in the latest funding round, led by Access Industries. Since founding, the company has raised $101m., according to TheMarker.

The Biotech firm Mitrassist raised $30m. from Chinese investors. Its heart valve implant seeks to treat mitral regurgitation – a disorder resulting from the mitral valve failing to close properly while the heart is pumping out blood.

The company is receiving funds from Fosun International, a Chinese pharmaceutical company, along with the Ping An Insurance Company. Mitrassist is raising the money in two stages, the first one bringing in $16m. and an expected $14m. following the initial clinical trials. The Caesarea-based medical device company, which was founded in 2009 by Gil Naor, was valued at $80m. before this round of fund-raising.



Related Content

Workers strike outside of the Teva building in Jerusalem, December 2017
December 18, 2017
Workers make explosive threats as massive Teva layoff strikes continue

By MAX SCHINDLER

Israel Weather
  • 9 - 19
    Beer Sheva
    11 - 20
    Tel Aviv - Yafo
  • 9 - 13
    Jerusalem
    12 - 18
    Haifa
  • 13 - 23
    Elat
    11 - 21
    Tiberias