• Innoviz Technologies

  Participated · Equity · Dec 2020

  Innoviz Technologies Ltd. announced it expects to receive $200 million in funding through a private placement. The company entered into a subscription agreement for 20,000,000 common shares at $10 per share for gross proceeds of $200,000,000. The transaction is being led by Antara Capital LP and was raised at a post-money valuation of $1,375,000,000. The board of directors has approved the transaction. The closing is targeted for the first quarter of 2021 on the date of, and immediately following, the consummation of a merger and is subject to regulatory and stockholder approvals and other customary closing conditions. The company has entered into a 180-day lock-up agreement from issuance. Innoviz develops solid-state lidar sensors and bundled perception software aimed at autonomous vehicles and robotaxis. Its flagship product, InnovizOne, is an automotive-grade lidar system the company says can be produced and sold at roughly 90% lower cost than its first-generation system. Innoviz packages perception software with its sensors and partners with OEMs and Tier 1 suppliers such as Magna, HARMAN, HiRain Technologies and Aptiv. The company has secured commercial design wins, notably with BMW for series production starting in 2021. With the new funding, Innoviz plans to scale production, expand manufacturing capacity, and grow in key markets including the U.S., Europe, Japan and China. It also intends to invest in R&D to develop next-generation products and improved software performance. Innoviz Technologies, based in Kfar Saba, Israel and led by co-founder and CEO Omer Keilaf, develops solid-state LiDAR sensing solutions aimed at the mass commercialization of autonomous vehicles. The company leverages proprietary System, MEMS and Detector designs to deliver long-ranging, accurate sensing at cost and size targets for automotive adoption. Its product lineup includes InnovizPro, a development platform for automakers, Tier 1 suppliers and tech companies, and InnovizOne, an automotive-grade LiDAR device targeting levels 3–5 autonomy. InnovizPro was slated to be available in Q1 2018, while samples of InnovizOne were planned to begin shipping in 2019. The company said it will use the new funds to grow its team across R&D, operations, marketing and business development. At the time of the article the Series B had been extended and the company reported total funding of $82M. Innoviz makes solid-state LiDAR sensors designed for greater reliability (no moving parts) and improved sensing across challenging conditions such as bright sunlight. The company offers a development-focused product, InnovizPro, and plans to begin delivering InnovizPro to automakers starting in the first quarter of next year. Its automotive-grade InnovizOne sensor is slated to be available as a manufacturing sample sometime in 2019. Innoviz raised $65 million in a Series B from strategic partners and auto suppliers to help push toward mass production of its LiDAR modules. The funding will also support the company’s computer vision work and formation of new partnerships. Strategic investors Delphi Automotive and Magna International—both positioned to supply automakers with autonomous-driving components—are already working with Innoviz to integrate its technology into OEM systems. Innoviz Technologies develops compact solid-state Lidar sensors aimed at autonomous vehicles. The company says its prototype is working internally and it plans a public demo by the end of this year, with a mass-production-ready product targeted for mid-2018. Innoviz aims for an under-$100 price point at volume by reducing components and expects a package smaller than 5cm x 5cm x 5cm. The company declined to disclose technical details but said it took a different technical approach to the scanning element than competitors such as Quanergy and MIT. Beyond hardware, Innoviz is expanding its team to build complementary software for mapping and localization, object detection and tracking, and sensor fusion. Financially, Innoviz raised $9 million in a Series A round closed in February.

• BioSight

  Participated · Series C · Dec 2020

  Biosight is a private Phase 2 clinical‑stage biotechnology company developing therapeutics for hematological malignancies and disorders. Its lead asset, BST‑236 (aspacytarabine), is a proprietary anti‑metabolite composed of cytarabine covalently bound to asparagine and acts as a pro‑drug designed to enable high‑dose therapy with lower systemic exposure and reduced toxicity. BST‑236 has received FDA Fast Track and Orphan Drug designations and is being investigated as a single‑agent first‑line treatment for AML in a multi‑center Phase 2b trial in the U.S. and Israel. Biosight plans to expand BST‑236 into two additional Phase 2 trials — one in Europe and another in the U.S. — to evaluate relapsed/refractory MDS and AML, including a collaboration with the European cooperative group GFM. The company completed a deferred close of its Series C, bringing total proceeds to $46M to advance these clinical programs. Management states the funds will support additional clinical launches and continued enrollment in the ongoing Phase 2b study, with updated data reported at the 2020 ASH Annual Meeting. BioSight develops innovative chemotherapy pro-drugs designed to reduce toxicity, with a lead candidate called Astarabine. Astarabine is a compound of the chemotherapy drug cytarabine (Ara-C) and the amino acid asparagine intended for the treatment of AML. The company is completing a Phase I/IIa clinical trial of Astarabine as monotherapy for AML and ALL at Rambam Hospital under the supervision of Dr. Tsila Zuckerman. BioSight plans to advance Astarabine into a multi-center Phase IIb clinical trial using recently raised funds. The company is led by Co-Founder and Chief Scientist Stela Gengrinovitch, PhD, and CEO Ruth Ben Yakar, PhD. BioSight is based in Karmiel, Israel.

• Air Doctor

  Led · Series A · Mar 2020

  Air Doctor operates a directory and algorithmic, location-based service that connects travelers with vetted doctors for in-person and remote consultations while handling insurance matching and payments. The product combines provider profiles (including languages and coverage), booking/matching algorithms, and back-end accounting to submit claims and pay doctors, taking service fees and commissions. The company says its platform delivers significant cost and processing savings—about 50% on outpatient claims, 60% for medical assistance providers, and 75% in handling and processing time. Air Doctor has more than 80,000 customers, a directory of 20,000 doctors across 84 countries, and contracts with around 18 major health insurance providers; it has shifted from B2C toward a B2B2C model with insurers referring users. Revenues are growing at roughly 2.5x annually, and the team uses insurer partnerships and travel data to prioritize network expansion and common ailments to cover. The founders, Jenny Cohen Derfler and Yam Derfler, built the network initially through on-the-ground sourcing and embassy recommendations and expanded rapidly during and after the pandemic. Air Doctor connects travelers who fall ill abroad with local private doctors through an intuitive mobile and desktop app. Its outpatient medical network covers 74 countries and includes over 20,000 medical professionals across 2,000 cities, offering in‑person and telemedicine consultations. The company says it has tens of thousands of registered users and employs over 60 people based in Israel and Europe. Air Doctor raised $20M in a recent funding round and had previously raised $10.9M since its 2018 launch. The new capital will be used to hire developers, expand product and marketing teams, grow the vetted medical professional network—particularly in the US and Europe—and open additional international offices. The company positions its service as addressing increased demand for travel medical assistance and travel insurance digitization following the COVID‑19 pandemic. Air Doctor operates a digital marketplace that lets travelers search for and book local private physicians by location, language, specialty, and cost. The platform is used typically via travel insurance or customer perks and provides access to doctors across 42 countries on five continents. Air Doctor positions itself to reduce insurer claim costs by steering patients to outpatient care and streamlining payments, while increasing physicians’ income and digital presence. The company emphasizes providing care in patients’ native languages to improve outcomes and traveler control. Founded in 2016, Air Doctor has attracted institutional backing and plans to expand its medical network and R&D capabilities internationally across the insurance, telecom, and credit card industries.

• Riskified

  Participated · Series C · Jul 2017

  Riskified provides AI-powered fraud-prevention and payments solutions that operate at the intersection of merchants, banks and consumers to optimize online and omnichannel paths-to-purchase. Its machine-learning models and chargeback-guarantee approach distinguish legitimate customers from fraudsters, boost conversion rates, increase bank authorization rates, protect customer accounts, and enable alternate payment methods. The company positions its model as an alternative to scoring-based solutions by aligning incentives with merchants through guaranteed chargebacks. Customers typically see order approval rate increases up to 20% and reductions in fraud-related costs up to 50%; Riskified analyzes transactions from 235 countries and territories. The company has experienced hyper growth (250% CAGR over the past five years), with ARR surpassing $100M in 2018 and projected high double-digit growth in 2019. Riskified employs 420+ people in New York and Tel Aviv and plans to open a Shanghai office before the end of 2019; the new funding is intended to accelerate domestic and international scaling and expand its product footprint. Riskified provides an e-commerce fraud prevention solution that leverages machine learning, behavioral analytics and its broad merchant network to detect fraudulent transactions while preserving customer experience. Its platform reviews transactions for signs of fraud and has processed hundreds of millions of transactions, approving billions of dollars of merchant revenue. Customers include retailers such as Foot Locker, Simplehuman and Macy’s. The company plans to use new funding to continue technology development, grow its teams in Tel Aviv and New York, and expand into new markets. Riskified emphasizes network-driven fraud insights to give merchants a fuller picture than in-house solutions can provide. The company opened a New York office last fall and says it will accelerate market penetration and international expansion with the new capital. Riskified provides an e-commerce fraud prevention solution that leverages proprietary behavioral analytics technology and machine learning. The platform guarantees the business of hundreds of global brands across sectors including luxury fashion, retail chains, gift card and ticket marketplaces. Led by cofounder and CEO Eido Gal, the company was founded in 2013 and is based in Tel Aviv, with U.S. offices in Boston. Riskified secured $25M in a funding round that increased its total capital raised to $31M. The company intends to use the funds to further accelerate growth and customer success. Riskified provides e-commerce companies with a proprietary risk enablement platform designed to increase sales by verifying, approving and guaranteeing high-risk transactions. Retailers determine which transactions to review and pay only when a transaction is approved. All approved transactions carry a 100% money-back guarantee. Co-founded in 2012 by Eido Gal and Assaf Feldman and based in Tel Aviv, the company intends to use its newly raised capital to grow and develop its platform. Riskified raised $1.65M in seed funding from a syndicate of investors.

No current team members are available.