Invest to Israel Report, August 2023

Summary

A total of 46 investment and acquisition projects occurred, with a total disclosed investment of approximately US$ 1.87 billion; among them, among them, there are 40 investment projects with a disclosed total amount approximately US$ 1.38 billion.

Acquired Israeli companies include: iNNOGING Medical, Perimeter 81, Laminar, Webbing, Spott, and Castory.

Until August, the Israeli deals that China has invested in 2023 include: One Zero, Hexa, TinyTap, Optima Design Automation, NoTraffic and 40Seas.

In August 2023, Israel has a total of 40 investment projects.
Popular industries are concentrated in Software, scientific engineering, hardware, data analysis, privacy and security, information technology, healthcare, artificial intelligence, financial services, community service.

Cross-border investments mainly come from the United States (21), Germany (3), Canada (1), China (1), Japan (1), United Kingdom (1), Singapore (1).

19 Israeli investment projects received investment of local origin.

It should be noted that some of the investment projects originated from multiple investors from different countries.

This article is based on publicly available market data at the time of publication.

List of Investment deals in August

list of M&A deals in August

1. iNNOGING Medical, An ultrasound simulator for training besides its ultrasound diagnosis solution

On August 28, 2023, 3B Scientific, a leading manufacturer of medical simulation products, announced that it had acquired iNNOGING Medical, a company in the field of cloud ultrasound simulation. The acquisition amount has not been disclosed.

iNNOGING Medical develops a pioneering cloud-based SaaS solution called e Sono. The solution facilitates ultrasound simulation, allowing users to train and analyze ultrasound scans from any location using any networked device. The company was founded with the vision to transform ultrasound image analysis training and seek to enhance ultrasound diagnostic capabilities worldwide.

3B Scientific is a global leader in medical simulators and education, dedicated to advancing the development of medical and healthcare education around the world. The acquisition aims to enhance 3B Scientific's products and services in the field of medical simulation and training.

The acquisition marks the merging of two entities with roots in the medical training and simulation space. Leveraging iNNOGING Medical's advanced ultrasound simulation technology and 3B Scientific's extensive reach and expertise in medical education, this partnership is expected to revolutionize healthcare education and training.

2. Perimeter 81, Network-as-a-Service

August 10, 2023, cybersecurity company Check Point Software Technologies (NASDAQ: CHKP) has signed a definitive agreement to acquire innovative Secure Services Edge (SSE) company Perimeter 81. The acquisition is expected to close in the third quarter of 2023 and is valued at approximately $490 million.

Founded in 2018, Perimeter 81 provides a powerful and easy-to-use converged network and security platform that connects all users in the office or remotely to all enterprise resources located on-premises or in the cloud. The company also supports one-hour deployment, which solves the problem that traditional solutions take weeks, emphasizing ease of use and simplified management.

Check Point, which originated in Israel and is headquartered in California, focuses on all aspects of enterprise cybersecurity, from cloud services to artificial intelligence, and cybersecurity powered by proactive threat detection.

Hybrid work has gradually become the standard for global enterprises, and digital transformation is continuously moving data centers to the cloud. This transformation requires an advanced network security approach to seamlessly adapt and respond to the needs of modern distributed enterprises. The acquisition by Check Point will enhance its tools for remote and hybrid workers. 

3. Laminar, Public Cloud Data Protection SaaS solution

On August 8, 2023, data security provider Rubrik announced the signing of an agreement to acquire the data security posture management (DSPM) platform Laminar. The acquisition amount has not been disclosed.

Founded in Tel Aviv in 2020, Laminar Technologies provides a data security platform designed for public cloud environments and cloud-based data warehouses. The platform houses key data security capabilities such as posture management, access governance, threat monitoring and threat response. Prior to the acquisition, Laminar had successfully raised a total of $67 million in funding.

Rubrik Inc., a leading data security vendor, is committed to a zero-trust architecture for its data protection software, emphasizing strict user access requirements and enhanced organizational controls. The acquisition is designed to enhance Rubrik's data security offerings, allowing it to provide comprehensive network posture and network recovery solutions.

One of the biggest challenges businesses face today is low visibility of data in an increasingly distributed environment. The merger will integrate network recovery and network posture across enterprise, cloud and SaaS to create the industry's first complete network resilience offering.

4. Webbing, MVNO (Mobile Virtual Network Operator) connectivity provider 

On August 7, 2023, Wireless Logic, the world's leading IoT connectivity provider, acquired Webbing, a global mobile virtual network operator focusing on enterprise mobility and IoT application connectivity. The acquisition amount has not been disclosed, but according to market information, the acquisition amount exceeds US$200 million.

Founded in 2010, Webbing is a global mobile virtual network operator (MVNO) that provides leading connectivity services to global customers in enterprise mobility, automotive and logistics industries. It is the market leader in eSIM technology and leads the way IoT transition to the new GSMA eSIM standard. Webbing's solutions, such as WebbingCTRL, simplify IoT connectivity, reduce costs and time-to-market, enabling businesses to maintain complete control over their connectivity deployments.

Wireless Logic is a prominent global provider of IoT connectivity and has been on a recent acquisition spree, including IoTthink Solutions, Mobius Networks, Jola and Blue Wireless. The acquisition of Webbing is motivated by the strategic complementarity of the two companies' products and is designed to expand Wireless Logic's global reach and enhance its eSIM capabilities.

5. Spott, An eCommerce-only insurance solution

On August 3, 2023, the financial technology company Payoneer (NASDAQ: PAYO) announced the acquisition of the Israeli real-time data platform Spott. The acquisition amount has not been disclosed.

Spott is a real-time data platform that provides smart financial products to protect e-commerce online merchants from unexpected losses, grow rapidly, manage risk and achieve financial stability. Spott uses artificial intelligence to effectively identify, evaluate and quantify data, ensuring businesses make smart and fast decisions.

Payoneer helps SMEs, especially those in emerging markets, transact, manage money, pay and grow their businesses globally. Payoneer will use Spott to simplify decision-making, and the first application of the technology will be on Payoneer's working capital product to enhance underwriting capabilities.

6. Castory, A seamless onstruction progress tracking and documentation platform

On August 1, 2023, construction project management systems company Top Ramdor announced the acquisition of Castory-ai.

Castory-ai is known for its innovative 3D imaging solutions for architectural projects. The company's technology uses helmet cameras and drones to provide real-time insights into construction sites, enabling project management to monitor progress and identify potential issues early; its artificial intelligence capabilities can automatically identify and report construction progress, bridging the gap between on-site activities and office management difference.

Top Ramdor provides comprehensive cloud-based solutions. Its solutions are embedded in numerous organizations and accompany construction projects throughout their life cycle.

The acquisition follows Top Ramdor's successful implementation of Castory-ai's solutions in numerous projects in Israel.