Summary
Based on publicly available market information, Israel's technology sector raised approximately $870 million in funding, covering areas such as healthcare, artificial intelligence, financial services, and cybersecurity. Additionally, acquired Israeli companies include: enterprise resource planning (ERP) software development company Priority Software, non-contact laser glaucoma treatment Belkin Vision, and digital fraud detection and financial crime prevention company BioCatch.
Israeli companies which received investment in May 2024
| Company Name | Company Introduction |
| Firefly | Cloud computing optimization |
| Enlivex Therapeutics | Clinical-stage immunotherapy company focusing on reprogramming macrophages |
| Newmoo | Producing plant-based cheeses and dairy alternatives |
| Unlimited Robotics | Helping developers build applications on robots |
| Mileutis | Developing natural and novel peptide drugs |
| Finout | Integrating cloud expenses, providing cost views |
| Orca AI | Manufacturing boat collision avoidance systems |
| Velotix | Using AI-driven data protection and access management |
| Kima Network | Decentralized protocol revolutionizing financial interoperability |
| Hypernative | Protecting digital assets with AI |
| Agora | Enhancing real estate investment management efficiency |
| FIRMUS | Helping construction companies identify and mitigate design risks |
| Fairgen | Data debiasing platform |
| XTEND | An online performance advertising network that focuses on online media |
| ProFuse Technology | Cultured meat production technology |
| Panax Tech | Developing automated treasury management tools |
| Token Security | Specializing in a machine-first approach to identity security |
| Superfy | Using AI to instantly connect you with the right person for answers |
| Opmed.ai | Providing cutting-edge technologies and services for healthcare solutions |
| Nectin Therapeutics | Developing next-generation immuno-oncology antibodies |
| LayerX Security | Browser security |
| 888 Holdings | Online gaming product provider |
| APEX | Providing visibility of GenAI activity |
| AISAP | Fully automated diagnosis, interpretation, and reporting of point-of-care ultrasound examinations |
| DeepKeep | ML security and AI protection solutions |
| Remepy Healthcare | Biotechnology healthcare company |
Israeli merger and acquisition deals in May 2024
1. Priority Software, ERP Software Development Company
On May 16, 2024, Blackstone Growth and its affiliated funds have reached a definitive agreement to acquire a majority stake in Priority Software, a provider of mission-critical business software.
Priority Software is an Israeli enterprise resource planning (ERP) software development company founded in 1986. It primarily serves the manufacturing, retail, hospitality, and education industries. Its technology and products are highly favored in the small and medium-sized enterprise market due to their high flexibility and scalability. The company holds several patents, mainly focusing on the optimization of ERP systems and data processing technologies.
2. Belkin Vision, Non-contact Laser Glaucoma Treatment
On May 5, 2024, Alcon (SWX: ALC) acquired Belkin Vision for $330 million, including initial and milestone payments, for its non-contact laser glaucoma treatment.
Alcon is a Swiss-American pharmaceutical and medical device company with a current market value exceeding $38 billion.
Glaucoma is a leading cause of blindness affecting 70 million people worldwide, with over 3.6 million patients diagnosed in the United States alone. Belkin Vision's core product, Eagle, is a non-contact automatic glaucoma laser treatment device featuring unique Direct-SLT (DSLT) technology. The device has been launched in the EU and the UK and received FDA approval last December. Similar Israeli companies include Nano Retina (developing retinal implants).
DSLT (Direct Selective Laser Trabeculoplasty) is a medical procedure for treating glaucoma that uses lasers to target specific cells in the trabecular meshwork of the eye, helping to drain part of the aqueous humor. By selectively targeting these cells, DSLT improves the outflow of intraocular fluid, reduces intraocular pressure, and helps control glaucoma symptoms.
3. BioCatch, Digital Fraud Detection and Financial Crime Prevention
On May 2, 2024, Permira Growth Opportunities II acquired a majority stake in BioCatch, valuing the company at $1.3 billion to enhance its global financial crime prevention capabilities.
Founded in Israel in 2011, BioCatch utilizes behavioral biometrics technology to detect and prevent fraud by analyzing user behavior patterns, providing protection for financial institutions and online businesses. The company's main products and technologies include a behavioral biometrics platform and mule account detection.
Permira Growth Opportunities II is a fund of Permira, focusing on significant minority and majority investments in growth-oriented, market-leading companies. This transaction builds on Permira's initial minority investment in early 2023 and aims to accelerate BioCatch's global expansion and technological innovation.
Similar Israeli companies include PerimeterX (providing bot management and fraud prevention solutions), Forter (focused on real-time e-commerce fraud prevention), and Riskified (offering e-commerce fraud prevention solutions).
A mule account refers to an account used to facilitate illegal activities, typically involving money laundering or other financial crimes. The term "mule" originates from the role of individuals who transfer illicit funds from one account to another, often unwittingly participating. Cybercriminals frequently use mule accounts to obscure the origin of illegally obtained funds.
