Summary:
In July 2024, based on publicly available market information, Israel's tech industry raised approximately $514 million in funding, with a focus on AI-powered healthcare, clean energy, cybersecurity, and cloud security sectors. Additionally, Israeli companies that were acquired include the digital marketing agency LEADERS, cybersecurity and B2B software investment company Elron Ventures, catheter-based heart valve therapy developer Innovalve Bio Medical, multi-layer conversational AI company LoudnClear.ai, and automated document generation solution provider Docomotion.
This article is based on market data available at the time of publication.
Israeli companies which received investment in July 2024
| Company Name | Company Introduction |
| Scopio Labs | Improving hematology with AI-driven cell imaging |
| Chemomab | Developing innovative treatments for fibrosis-related diseases |
| Quantum transistors | Quantum computing chips |
| ImPact Biotech | Tumor therapies |
| Magenta Medical | Developing novel devices for the treatment of heart failure |
| LeakZon | Reducing water waste through advanced analytics |
| CTERA Networks | Cloud file security |
| CytoReason | Computational models for biological data |
| Nurami Medical | Developing smart nanofiber technology for surgery |
| MediWound | Wound care products |
| IR-MED | Focusing on infrared light medical diagnostics |
| NanoPass Technologies | Clinical development |
| Buildots | Transforming construction sites into data-driven digital environments |
| Cognyte | Providing analytical software to prevent security threats |
| Cytactic | Providing data-driven cyber crisis preparedness solutions |
| Vee | AI-driven nonprofit management platform |
| EndoRon Medical | Developing endovascular suture devices for abdominal aortic aneurysm treatment |
| CogniFiber | Developing photonic computing technologies for artificial intelligence (AI) |
| Sendblocks | Blockchain data management |
| CommU | AI-based real-time medical translation |
| TreeTube | Industrialized urban tree planting without harming urban infrastructure |
| Panacea-ml | Medical machine learning solutions |
| SurgiAl | Automatic identification and segmentation of anatomical structures in real time |
| EndoCure | AI-driven robotic ultrasound for the diagnosis of endometriosis |
| EndoSpan | Developing innovative endovascular endothelial systems for aortic aneurysm repair |
| InspireMD | Stent system technology |
| Purple Biotech | Biopharmaceutical drug development |
| Eco Wave Power | Wave energy devices and solutions |
Israeli merger and acquisition deals in July 2024
1. LEADERS, Digital Marketing Agency
On July 24, 2024, Stagwell (NASDAQ: STGW) announced the acquisition of LEADERS, a Tel Aviv-based digital agency specializing in influencer marketing and social commerce. LEADERS has developed a global influencer marketing SaaS platform, InfluencerMarketing.AI (IMAI). The acquisition amount was not disclosed.
LEADERS was founded in 2017 by Eran Nizri and Yehonatan Arami, dedicated to providing high-value digital and influencer marketing strategies. Its IMAI platform leverages advanced AI technology to connect brands with over 300 million creators globally, offering comprehensive analytics, sales forecasting models, and campaign management tools. Clients include renowned brands such as Nespresso, Samsung, and Colgate-Palmolive.
Stagwell, an innovative marketing network company, made this acquisition primarily to integrate LEADERS’ IMAI platform and enhance Stagwell’s technological advantage in the influencer marketing sector.
2. Elron Ventures, Cybersecurity and B2B Software Investment
On July 22, 2024, Arieli EL announced the acquisition of a 59.1% stake in Elron Ventures for $53.2 million.
The acquisition was led by Lisya Bahar-Manoah, managing partner of Arieli EL, and the seller was Discount Investment Corporation Ltd.
Founded in 1962, Elron Ventures is a leading Israeli cybersecurity and B2B software investment company, managing assets worth over $250 million and holding a portfolio of more than 19 companies. Its portfolio includes Cynerio (a medical cybersecurity company), Cybersixgill (an automated threat intelligence solutions developer), and IRONSCALES (an automated phishing defense platform). Arieli EL, part of the Arieli Group, focuses on tech investment and operations.
This acquisition aims to integrate Elron Ventures' advanced cybersecurity technologies and its rich portfolio to strengthen Arieli EL’s competitiveness in the cybersecurity and B2B software markets.
3. Innovalve, Catheter-Based Heart Valve Therapy
On July 15, 2024, Edwards Lifesciences (NYSE: EW) announced the acquisition of Innovalve Bio Medical. While the acquisition amount was not disclosed, BTIG analysts estimate that around $300 million in cash will be paid upon the completion of the deal.
Innovalve Bio Medical, founded in Israel, specializes in developing innovative mitral valve replacement and repair technologies. Its primary product, the Innostay™ TMVR system, has entered clinical trials and features a unique rotating arm design that allows the native mitral valve tissue to wrap around the prosthesis, ensuring secure anchoring and sealing.
Edwards Lifesciences, a California-based company specializing in structural heart disease treatment solutions, made this acquisition to integrate Innovalve Bio Medical's advanced TMVR technology, enhance Edwards’ existing heart valve replacement portfolio, and expand the range of treatable patients.
4. LoudnClear.ai, Multi-Layer Conversational AI
On July 15, 2024, Forwrd.ai announced the acquisition of LoudnClear.ai to enhance its predictive modeling capabilities. The transaction amount was not disclosed.
LoudnClear.ai is a multi-layer conversational AI platform focused on customer service teams. It leverages natural language processing (NLP) and machine learning (ML) technologies to provide intelligent conversation analysis and real-time response solutions for customers. These technologies will enhance Forwrd.ai's data enrichment capabilities, enabling RevOps managers to build no-code models that analyze and predict business growth trends.
Forwrd.ai is a B2B SaaS platform for data science automation, focused on providing AI-driven solutions to non-technical revenue operations leaders, improving operational efficiency and business strategy.
The acquisition aims to simplify data science processes, reduce dependency on complex data science teams, and thereby lower costs while increasing efficiency. LoudnClear.ai's conversational AI technology will help Forwrd.ai deliver more comprehensive customer data insights, enhancing the accuracy and utility of its predictive models.
5. Docomotion, Automated Document Generation Solutions
On July 1, 2024, Novidea acquired Docomotion, a provider of automated document generation technology. The acquisition amount was not disclosed. Docomotion, founded in 2012 in Netanya, Israel, specializes in providing advanced document generation and automation solutions. Its platform enables businesses to efficiently create, manage, and distribute complex documents, widely used in document-intensive industries, with major clients from the insurance, financial, and legal sectors.
Novidea, founded in 2014 and also headquartered in Netanya, is a leading Israeli provider of a cloud-native, data-driven enterprise insurance management platform. Novidea offers end-to-end customer journey management solutions for insurance brokers, agents, MGAs/MGUs (Managing General Agents/Underwriters), insurers, and wholesalers. Its open API architecture allows customers to modernize management processes and drive business growth, with significant market influence globally.
This acquisition is aimed at accelerating Novidea's product innovation. By integrating Docomotion's technology, Novidea plans to enhance the functionality of its insurance management platform, including automated form processing, design, management, and e-signatures. Docomotion's customers will benefit from a broader product portfolio, enhanced product development, and improved customer experience. The expected outcomes include more efficient document management and processing capabilities following the technological integration, leading to improved customer satisfaction and market competitiveness.
