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

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

By
November 9, 2017 22:17
1 minute read.
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Shekel money bills. (photo credit: REUTERS)

 
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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.

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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.




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