Israel Science Technology

IgnitAd, an early stage startup that develops an optimization system for online advertising, has raised a seed investment from DFJ Tamir Fishman Ventures and JVP, through JVP Media Studio.

The boom in online advertising spend has created new ways for publishers and advertisers to interact and this creates a significant business opportunity for us in the market,” said Assaf Roth, CEO, IgnitAd.

"The online advertising market is fragmented. IgnitAd's innovation will take the online advertising market forward by adding automation to the buying and selling process, while giving web publishers and advertisers the control and visibility to ensure better match between them, protect their brand integrity and increase their performance." said Shai Saul, General Partner, DFJ Tamir Fishman Ventures.

IgnitAd was founded in 2008 by Roth, Yaniv Bar-Lev, VP Sales & Marketing at IgnitAd, and Yoav Ben-Ari, the current VP R&D of IgnitAd. Roth is the Co-Founder of ecommerce shopping solutions provider Celebros; Bar-Lev previously served as a VP at Fixya.com and as a director of marketing analysis at 888.com (Random-Logic); Ben-Ari was a senior software engineer at Certagon.

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Mobile digital TV chip maker Siano Mobile Silicon has raised $23.5 million in a fourth round of funding from all existing investors: JVP, DFJ-Tamir-Fishman, Star Ventures, Walden Israel, and Bessemer Venture Partners. The new funds to be used as operating capital to meet the growing demand for its family of mobile TV receiver chip.

"This financing round marks the completion of the transition that Siano made in the last year, from a start-up company to an established volume supplier to multiple international brands such as Samsung, Motorola, ZTE, Huawei, Mio, Garmin, Dell and many others," said Alon Ironi, Siano's CEO. "The new funds will help Siano solidify this position, build sufficient product inventory to secure vast supply, and in parallel continue to develop new products and penetrate new markets."

"Coming out of the global financial crisis around mid 2009, it was clear that the mobile DTV market has shifted gear," said Erel Margalit, Chairman of Siano and Managing Partner of JVP. "From China and Brazil to Russia and Korea, the demand for Siano's products has risen at a phenomenal rate, and the investors are happy to provide the company with the proper financial instruments to maximize its growth.”

Established in June, 2004, Siano develops highly integrated silicon receivers for the mobile digital TV (MDTV) market. The world’s largest Personal Navigation Device (PND) makers, Garmin, Mio, and Navigon – have already integrated its leading MDTV receiver chips into their latest consumer GPS products. Siano’s highly integrated silicon receiver chips enable high-performance, fast time-to-market mobile TV solutions for handheld device makers. Registered in the USA, Siano has offices in China, Taiwan, South Korea, Israel and the USA.

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Mobile personal finance applications provider Pageonce raised $6.5 million in a new round of venture funding led by Pitango Venture Capital. This financial round brings the total raised by the company to date to $10 million.

Pageonce has developed a service that gives consumers access to their essential personal information, from bank accounts to travel itineraries. Pageonce's flagship product, Personal Assistant, is a personal finance and travel application on the iPhone, BlackBerry, Android and Windows platforms, with more than 1 million registered users through its cross platform applications.

Pageonce also announced that Jim Scheinman has joined the company as COO. Scheinman was previously Bebo's first employee and a member of the board of directors. Mark Goines, former GM of Quicken/Intuit and early investor and board member of Mint, also joined Pageonce as an investor and advisor.

Pageonce was founded in June 2007 by Guy Goldstein, the company CEO and Ahikam Kaufman. Pageonce is backed by Pitango and HillsVen Capital as well as private angels including Liron Petrushka who serves as Chairman of Pageonce. Pageonce is headquartered in Palo Alto, California, with a development team in Kfar Saba, Israel.

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Fabless semiconductor company Broadcom will acquire Dune Networks, a semiconductor supplier of networking devices, for $178 million in cash. Dune Networks, a privately-held company that develops switch fabric solutions for data center networking equipment, have raised $53 million so far from Evergreen Venture Partners, USVP, Pitango, Aurum, JVP and Alta Berkeley.

"Dune's massively scalable interconnect fabric, combined with our Ethernet products, augments our portfolio of solutions for data center networking equipment," said Martin Lund, Vice President and General Manager, Broadcom's Network Switching line of business. "This technology is particularly well suited to meet the emerging requirements for cloud computing networks at a large scale, and will enable us to address new market applications for Ethernet in the data center."

"Dune Networks' distributed connection fabric is a complement to Broadcom's existing product suite," said Eyal Dagan, the Founder and CEO of Dune Networks. "Our joint customers will be able to bring to market low cost, high performance data center switching that will enable end users to build next-generation cloud computing networks."

Dune Networks has developed a scalable chipset that supports bandwidth speeds of up to 100Gbps per port and can connect more than ten thousand servers (ports) in a single deployment. Founded in the year 2000, Dune Networks' offices are located in Sunnyvale, California and Yakum, Israel.

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On-demand remote technical support solutions provider SupportSpace has raised $10 million in a new investment funding. The round was led by Emergence Capital Partners and also included previous investors BRM Group and Gemini Israel.

SupportSpace previously raised $14.25 million in a Series A round of funding from BRM and Gemini. The company will use the new funds to enhance its infrastructure, expand its team and acquire new partners.

SupportSpace provides online tech support services for computers and connected devices to consumers and small and medium-sized businesses. The company's offerings are delivered using a (Software as a Service) SaaS platform and a virtual expert network. Experts deliver services from the SupportSpace service Web site, as well as from service sites of companies offering services powered by the SupportSpace platform.

SupportSpace was founded in 2005 by Doron Elgressy, the current President of SupportSpace who manages the company Israeli branch at Netanya, and Yair Grindlinger, SupportSpace CEO.

Elgressy was the owner and CEO of Primary Hi-Tech Ventures, an early-stage investment boutique, and in 1997 he founded Security-7, an information security software company, which was acquired by Computer Associates (CA). Grindlinger was the CEO of Port Authority Technologies (Vidius) and previously served as the international sales & marketing manager of Security-7.

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Ecommerce application provider WinBuyer raised $6.9 million in a first round of investment led by Pitango Venture Capital alongside Giza Venture Capital.

As part of the financial roud, Dan Clarke has been appointed to the role of CEO of WinBuyer. Clarke has previously held positions as Senior Director at Intel, and CEO of Vcommerce, an ecommerce platform used by leading online retailers.

WinBuyer delivers an Onsite Comparative Pricing (OCP) application to accelerates consumer purchasing behavior at the point of sale. The application leverages the known fact that consumers who are given information upfront are more likely to make a quick decision, feel confident about their choice, and return to the store for future purchases. 

WinBuyer recently announced that Overstock.com, an ecommerce market leader, will begin offering OCP in time for the holiday shopping season, giving their consumers the ability to make more informed buying decisions by comparing other merchant’s product prices, prior to making a purchase, without leaving the Overstock.com Web site. Other marquee WinBuyer clients include: Ritz Interactive, GameQuest and Hayneedle. To date, WinBuyer’s unique technology has been implemented by more than 200 online merchants in the US and UK.

WinBuyer was founded in 2005 by Miki Balin and Alon Weinberg. The company is headquartered in Tel Aviv, Israel, with offices in Scottsdale, Arizona and London, England. 

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Financial crime, compliance and risk management solutions provider Actimize will provide its anti-fraud platform for fighting financial crime to a top-10 global bank, in a high 7-digit strategic deal. Actimize will replace and consolidate dozens of 3rd party and proprietary anti-fraud systems across various channels, in order to create a single enterprise-wide fraud risk management platform.

The Actimize packaged solutions will enable the institution to prevent fraud in real-time, across various channels such as Internet, call center, cards, payments and ATM. The Actimize platform will also support self-development of proprietary fraud models by the bank's internal experts. In addition, the bank will use Actimize's enterprise case management solution to manage fraud investigations across the enterprise.

"As financial crime and enterprise fraud become more complex and costly, and also move up financial institutions' agenda, we believe that we can significantly leverage this strategic win to drive further growth. This win is a major milestone for Actimize and validates our position as the largest and broadest financial crime solutions provider,” said David Sosna, CEO at Actimize.

Founded in 1999 and part of NICE Systems since 2007, Actimize provides real-time and cross-channel fraud prevention, anti-money laundering, enterprise investigations, risk management and trading surveillance solutions to more than 100 of the world's top global financial institutions, agencies and regulatory bodies. Last month, Banco Espirito Santo has decided to deploy Actimize's Brokerage Compliance Market Abuse solution to identify and report suspicious transactions.

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Telecom revenue management solutions provider cVidya Networks to acquire ECtel, provider of integrated revenue management solutions for wireline and wireless operators, in a cash transaction valued at $21 million. The deal will create a global leader in revenue assurance and Fraud Management solutions.

"This strategic acquisition marks another significant milestone in our growth strategy of expanding our foothold in the communication, media and entertainment markets, by creating the largest and most innovative company in the world offering revenue management, fraud management, dealer management and clearinghouse services,” said Alon Aginsky, President, CEO and Founder of cVidya Network.

ECtel (NASDAQ: ECTX) offers carrier-grade solutions that enable wireline, wireless, converged and next generation operators to fully manage their revenue and cost processes. Established in 1990, the company has more than 100 implementations in over 50 countries worldwide.

cVidya is a provider of revenue assurance, risk management, and dealer management solutions for telecom service providers. cVidya's customers include British Telecom, Telefonica, Vodafone, Swisscom, Telecom Italia, and Cable & Wireless.

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Home multimedia entertainment SoC solutions provider Sigma Designs to acquire CopperGate Communications in a cash and stock transaction deal valued $160 million. The combination of two companies creates a leading provider of networked home entertainment semiconductor solutions.

Sigma and CopperGate have highly complementary technology platforms that form a portfolio of end to end solutions. The combination of Sigma and CopperGate is also expected to yield several potential synergies including synergies from leveraging manufacturing know-how and combined wafer sourcing, further SoC integration and combined research and development.

CopperGate is a leading provider of silicon-based modem solutions enabling distribution of broadband digital content over all three types of wires in the home: coax, phone and power. CopperGate solutions are deployed by service providers enabling the delivery of HDTV, VoIP and fast Internet services. Founded in 2000, CopperGate is headquartered in Tel Aviv, Israel with operations in the U.S. and Taiwan.

Sigma Designs provides integrated system-on-chip solutions (SoC) for the IPTV, connected media player, prosumer and industrial audio/video, HDTV, and wireless markets primarily in Asia, Europe, and North America. The company offers semiconductors with a suite of real-time software that enables synchronous processing of video, audio, and graphics streams for various applications. The company traded on NASDAQ (SIGM) with a market value of $383 milliom.

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Bio Pure Technology (BPT), a provider of industrial waste water streams treatment solutions, has completed a $12 million second financing round led by U.S. Venture Partners (USVP) and Pitango Venture Capital, with participation from existing investors Aurum Ventures and Elron Electronic Industries.

BPT is focused on developing and commercializing advanced membranes-based separation solutions to address the needs of the water and wastewater treatment industries. BPT’s chemically-stable membrane technology and associated systems enable customers in the landfill, mining, chemical, biopharma and food industries to filter their aggressive waste water to be economically viable, re-use water and comply with environmental regulations.

“Cleantech is an area of growing concern to the world market. BPT’s technology and tremendously experienced R&D group are well positioned to play a significant role in the application of nanotechnology to water technology,” Ittai Harel, partner at Pitango Venture Capital.

“USVP has been investing in cleantech for over six years and this is our first cleantech investment in Israel. Water treatment and recycling are critical elements of adapting to climate change,” said Jacques Benkoski, Venture Partner at USVP. “BPT clearly stood out as a unique player with differentiated and leading technology to solve critical waste water recycling issues for key industrial processes."

BPT was founded in 2000 by Dr. Motty Perry, the company President. Perry previously founded and served as CEO of Blue Green Environmental Technologies and its subsidiary Nitron, which focused on purification of ground wells. BPT is headquartered in Rishon LeZion, Israel.

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Solar power farms developer Arava Power Company (APC) has secured $15 million investment from Siemens, through its equity investment company Siemens Project Ventures GmbH (SPV). The equity investment, that securing Siemens a 40% stake in the company, will make it possible to build Israel’s first commercial solar photovoltaic farms – to be located in the region between the southern Dead Sea and the Red Sea.

“Siemens is the ideal partner for Arava Power and our property partners for winning over others interested in producing solar energy in Israel,” said Jonathan Cohen, CEO of Arava Power. “Our strategic partnership will make it possible for our country to reach its ambitious goals of clean air and renewable energy even faster.”

The investment in the Israeli solar energy firm is aimed at constructing the solar fields with a significant proportion of Siemens know-how. Siemens has concluded a framework agreement to build solar plants with a total output of 40 megawatts (MW). The first project will be the construction of a plant with an output of up to 4.9 MW at Kibbutz Ketura, near Eilat. Additional photovoltaic plants are already being planned for the Negev and Arava deserts and Israel’s aim is to meet around ten percent of its total energy needs with renewable energy plants by 2020.

“This investment is another consequential step in further strengthening our green and sustainable technologies,” said Peter Löscher, President and CEO of Siemens AG. “Thanks to its intensive sunshine and steadily growing demand for energy, Israel is an ideal location for further developing our solar business.”

Founded in 2006 by Arava Power is owned by Global Sun Partners, a partnership with Kibbutz Ketura and American Investors led by the company President Yosef Abramowitz. The company is seeks to supply 10% of Israel’s electricity needs with the development of solar energy plants with Kibbutzim, Moshavim and other land owners, especially in the south of Israel.

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Desktop Virtualization startup Wanova has exited stealth mode and raised $13 million in a first round of funding from Greylock Partners, Carmel Ventures, and Opus Capital.

Wanova has also announced a new architecture called Distributed Desktop Virtualization (DDV), which support and protect desktops and laptops, particularly remote and mobile endpoints. The Wanova DDV solution centralizes the entire desktop contents in the data center for management and protection purposes while distributing the execution of desktop workloads to the endpoints for superior user experience.

“IT managers face significant challenges to increase control, ensure compliance and reduce the operational costs of their desktop infrastructure. At the same time, they are tasked with optimizing the end-user experience,” said Ilan Kessler, CEO and co-founder of Wanova. “Wanova redefines distributed desktop management, so IT has the control they need, and end-users have the productivity they want.”

Industry analysts have estimated that desktop virtualization is a multi-billion dollar market. Gartner forecasts that licenses for hosted virtual desktops, which numbered 300,000 in 2008, have the potential to grow to 50 million by 2013.

"We’ve been seeing a gradual shift towards worker mobility evidenced by the notebook sales beginning to surpass those of desktop PCs. At the same time that workers are becoming increasingly mobile and distributed, IT is being tasked with reducing costs and increasing control and compliance. Wanova’s new architecture is a holistic solution that addresses these challenges and can generate serious attention in distributed enterprises,” said Michael Rose, Research Analyst at IDC.

Wanova was founded in April 2008 by Kessler and Dr. Issy Ben-Shaul, the company CTO. Kessler was co-founder and CEO of Actona, which was acquired by Cisco in 2004. Ben-Shaul was the CTO of the Application Delivery Business Unit at Cisco.

Wanova is headquartered in San Jose California with a development center in Netanya, Israel. The company's solutions are currently in field testing with customers.

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GreenRoad, a provider of a comprehensive service to improve driving behavior, has signed a five-year contract with Britain's largest bus operator First UK Bus. First will deploy GreenRoad's service across its fleet of 9,000 buses in order to improve environmental efficiency and passenger safety and comfort.

GreenRoad is a technology-based, automated driver coaching service that increases safety and reduces CO2 emissions, providing benefits to the drivers, the bus company and its passengers. It helps drivers and depot managers identify and correct unnecessary driving behavior while it occurs and sustains improvements over time through constant reinforcement.

First started to trial GreenRoad's service in March 2009 on 1,000 buses and the company has already seen a significant decrease in the amount of CO2 emissions from its buses and a 70% decrease in the number of unnecessary driving maneuvers. Up to 20,000 First bus drivers will now be trained in real-time on the new program.

First's fleet and depot managers will gain insight into driving behavior, and will have the tools they need to help drivers achieve environmental efficiency goals which will see First bus CO2 emissions reduce by 132,000 tons over the next three years. First will also have the option of working with bus manufacturers to pre-install GreenRoad's technology in new buses.

"This is a significant step in our efforts to improve the comfort and safety of our bus services as well as making a real environmental difference to the world that we, and future generations, will live in,” said Nicola Shaw, Director for First Bus in the UK, Ireland and Germany.

First UK Bus is Britain's largest bus operator running more than one in five of all local bus services and carrying 3 million passengers a day in more than 40 major towns and cities.

GreenRoad (formally DriveDiagnostics) was founded in 2003 by Hod Fleishman, Chief of Safety at GreenRoad, and Ofer Raz, the company Chief Technology Officer. On May 2009, GreenRoad has raised $15 million from DAG Ventures, Benchmark Capital, Virgin Green Fund, and Amadeus Capital and Balderton Capital.

The company is headquartered in Redwood Shores, California, with sales offices throughout the U.S. and UK and an R&D Center in Israel.

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SAP enterprise software provider Panaya has secured $5 million in a second round of funding led by Tamares Group with participation of Benchmark Capital.

Panaya provides SaaS (software as a service) that enables SAP users to save up to 50% of their application lifecycle costs by automating maintenance projects such as SAP upgrades, consolidations, support packages, and enhancement packages. The company providing cloud computing services to automatically identify the errors that will occur as a result of an upgrade, suggests corrections, creates test plans, and estimates budget for the project.

“We are impressed with Panaya’s ability to sustain aggressive sales growth during the past twelve months and add household names like Bosch, Sony and Volvo to its growing client roster,” said Meirav Har-Noy, Director of Investments and Strategy at Tamares Group. “This is especially true in these times of cost-cutting when companies are looking to reduce the total cost of ownership of their enterprise software.”

Panaya was founded in 2005 by Yossi Cohen, which previously founded Alexandria, which was acquired by BluePhoenix Solutions. Panaya is headquartered in Menlo Park, California, US and operate a research and development center in Raanana, Israel.

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Wireless HD semiconductor solutions provider AMIMON has raised $10 million in a new round of funding led by Stata Venture Partners. The series D round of financing included all significant investors from prior rounds including: Argonaut Private Equity, Cedar Fund, Evergreen Venture Partners, Walden Israel and Motorola Ventures.

AMIMON’s chipset have been shipping in volume embedded in wireless TVs and video accessories by leading TV OEMs selling AMIMON-based products in the US, Europe and Japan. AMIMON’s wireless technology has also enabled breakthrough products in the medical imaging and professional video markets.

“We are experiencing strong acceptance of our newly introduced 1080p/60Hz chipset; the additional funding will allow Amimon to seize this opportunity to solidify our leadership position,” said Dr. Yoav Nissan-Cohen, chairman and CEO of AMIMON. “We will use this round of funding to enhance production and expand our worldwide operations to meet growing global demand for our technology in the consumer electronics market as well as the medical and professional video markets."

AMIMON is a fabless semiconductor company pioneering wireless uncompressed high-definition video for universal connectivity among CE video devices. Its uncompressed Wireless High-definition Interface (WHDI) allows flat-panel televisions and multimedia projectors to wirelessly interface to all HDTV video sources at a quality equivalent to that achieved with wired interfaces such as component video, DVI and HDMI.

AMIMON was founded by Prof. Meir Feder, Chief Technology Officer, Noam Geri, VP Marketing & Business Development, and Dr. Zvi Reznic, Vice President R&D. The company is headquartered in Herzlia, Israel, with offices in Santa Clara, California, USA; Tokyo, Japan; and Seoul, Korea.

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Solar power efficiency startup Tigo Energy has closed a $10 million second round of funding led by Israel Cleantech Ventures (ICV), and joined by all existing investors, Matrix Partners, OVP and Clal Energy.

Tigo developed a unique technology which significantly increases efficiency in photovoltaic solar installations. The company’s Maximizer System (patent pending) can immediately return up to 20% power from today's traditionally architected systems. The company successfully deployed 18 installations in the US, Europe and Japan in cooperation with several of solar industry leaders.

Tigo was founded in 2007 by Sam Arditi, the company CEO, and Ron Hadar, the President and Chief Operating Officer of Tigo. Arditi previously served as the Vice President and General Manager for the Cellular and Handheld Group of Intel. Prior to founding Tigo Energy, Ron was a Vice President and General Manager at MKS Instruments. Modi Avrutsky has joined Tigo Energy as the Vice President of Power products R&D and General Manager of Tigo Energy Israel.

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Cleantech startup B-Solar has raised $3 million in a first financial round from venture capital fund Genesis Partners and serial entrepreneur Gidi Barak, the founder of IXI Mobile, DSP Communications, Butterfly, and Envara.

B-Solar develops and manufactures unique photovoltaic cells which generate 15-20% more electricity than cells presently in the market. The company plans to establish a manufacturing facility in 2010 to produce its photovoltaic cells, initially at a production capacity of 70 megawatts per year.

B-Solar was founded in December 2007 by Dr. Yossi Kofman, Professor Naftali Eisenberg, Dr. Lev Kreinin, and Dr. Ninel Bordin. Kofman, who serves as B-Solar’s CEO, was previously the co-founder and co-CEO of Modem-Art, which was acquired in 2005 by Agere Systems.

Eisenberg, CTO, Kreinin, Chief Scientist, and Bordin, Scientist, are experts in the solar energy field. Eisenberg founded and led the photovoltaic solar energy center and the non-conventional optics laboratory at the Jerusalem College of Technology. Together with his colleagues, Dr. Kreinin and Dr. Bordin, he turned the center into a leading university laboratory in the field of silicon based solar cells.

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Switching solutions provider Dune Networks has expanded its second investment round by raising an additional $8.3 million from Evergreen Venture Partners. Last year Dune raised 12 million from USVP, Pitango, Aurum, JVP and Alta Berkeley in series B financial round. This additional funding brings the total amount of funding raised to date to $53 million.

"Despite the fact that Dune recently reached profitability and maintains a strong cash position, we decided to take additional cash to further improve our balance sheet and to safely expand our operation," said Eyal Dagan, Dune Networks founder and CEO.

Dune Networks is a semiconductor supplier of networking devices, facilitating the build of Data Center, Enterprise and Carrier Ethernet Solutions. Dune provides a switching solution that extends the life cycle of packet platforms from the legacy 3 years up to 10 years and more. Founded in 2000 by Eyal Dagan, Dune is located in Sunnyvale, California with an R&D center in Yakum, Israel.

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Content delivery applications provider Cotendo has raised $7 million in Series B financing from Sequoia Capital and Benchmark Capital. The new financing round, which follows initial funding by Sequoia Capital in January 2008, enables Cotendo to bring its advanced suite of content delivery applications to the market, and accelerate new product development activities.

Targeting the content delivery network (CDN) marketplace, Cotendo offers a complete suite of Internet content delivery applications that addresses the sophisticated and evolving needs of mid-market content providers. The Cotendo Content Delivery Application Suite improves performance and user experience while giving content providers application-level flexibility to control content in real time.

"Some areas of technology get starved for a long time. Content delivery is one of them. It has been years since fresh eyes were trained on the subject and during this period the amount of content conveyed around the Internet has multiplied at a rate that even rabbits would admire," said Michael Moritz, general partner of Sequoia Capital. "Cotendo offers a reprieve for content providers trapped within the confines of antiquated solutions."

Cotendo was founded in 2008 by Ronni Zehavi, CEO, Udi Trugman, Vice President of R&D, and David Drai, Chief Technical Officer, all experts in intelligent content management systems. The Cotendo team also includes Gary Baldus, Vice President of Operations, and Mike Sawyer, Vice President of Marketing, both experienced executives from the CDN Industry. The company is headquartered in Silicon Valley with R&D based in Israel.

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Video web storage technology provider VideoCells has raised $3.2 million in a new financial round led by Israeli entrepreneur, Marc Belzberg. The cash infusion will be used to enhance the company marketing and sales efforts in the video surveillance market.

VideoCells developed a video management platform, called WebVR, which offers a low-cost IP-based, central service that allows the user to remotely record, view and manage content. The solution, that reduce the cost of monitoring services to SMBs, remote locations and homes, targets surveillance companies, telecom operators and ISPs.

VideoCells is a provider of video monitoring solutions that enable broadcasting of real-time and recorded video streams from IP, analog and web cameras to PCs, cellular phones, PDAs and TVs. Established in 2004, the company, managed by Stuart Steinberg, is located in Petach-Tikva, Israel.

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