Israel Science Technology

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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SaaS IT Management Provider SAManage has secured Series A funding from Xenia Venture Capital and existing backers. The new funding will support growth and rollout of new innovative IT Management SaaS services.

"SAManage is well-positioned to provide the kind of service-enabled simplicity that IT departments at small and medium-sized organizations have been long clamoring for,” said Anat Segal, CEO of Xenia Venture Capital. “In addition, the Service-as-a-Software model opens up opportunities for SAManage to provide new analytical and benchmarking services that can add significant value to the management of IT assets."

"We are seeing a growing demand for our SaaS IT Management services, which empower companies to better manage their IT Assets and reduce their IT costs and risks,” said Doron Gordon, CEO of SAManage. “We look forward to introducing our upcoming value-added IT Management products that will further enhance the way companies manage their IT operations and make purchasing decisions."

SAManage provides secure, on-demand IT Management services that help companies manage their PC and software assets. SAManage automates and simplifies the daily tasks associated with establishing IT governance, control, and compliance. SAManage is based in Redmond, Washington with R&D facilities in Israel.

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Touch screen technology provider N-trig has raised $24 million from Microsoft and venture capital (VC) funds, including Aurum Ventures, Challenger, Canaan Partners, and Evergreen Venture Partners.

N-trig plans to use this new round of funding to enter the mobile phone touch screen market, and to continue working with leading OEMs to create multi-touch notebooks and convertible computers for the mainstream marketplace. N-trig’s touch technology is currently deployed in Dell’s Latitude XT, and was recently launched on HP’s TouchSmart tx2.

“With the introduction of multi-touch in Windows 7, integrated with N-trig’s DuoSense technology, our customers will have a new and natural way to interact with their PCs,” said Ian LeGrow, Group Program Manager for Windows Client at Microsoft. “By simulating the way people write and touch naturally, N-trig is helping to make it easier to navigate your PC and enable a new class of Windows experiences.”

“We will use this funding to keep fueling technology innovations in Hands-on computing, providing leading OEM brands with new product platforms and supporting ISVs to develop new applications,” said Amichai Ben-David, CEO of N-trig. “Additionally, we intend to expand our global supply chain by developing breakthrough mobile platforms in order to create and penetrate new markets.”

Founded in 1999, N-trig is headquartered in Kfar Saba, Israel, with offices in Austin, Texas and Taipei, Taiwan. On February 2008, N-trig has completed a fund-raising round of $28 million from Canaan Partners, Evergreen Venture Partners.

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Information security solutions provider Aladdin Knowledge Systems is to be acquired by an investor group lead by private equity firm Vector Capital for approximately $160 million in cash. The transaction is expected to close in the next two to three months.

Founded in 1985, Aladdin is a provider of security services and solutions used to protect digital assets, enable secure business, and maximize the benefits from creating, selling, distributing and using digital content. The Israeli company revenues in 2008 are expects to be between $124 million and $134 million, compared to $106 million in revenues reported for fiscal year 2007.

In the third quarter of fiscal year 2008 Aladdin completed the acquisition of the Secure SafeWord product line from Secure Computing Corporation for approximately $65 million in cash. It also completed the acquisition of EutronSec, a provider of software protection and authentication products, for approximately €10 million in cash.

Vector Capital is a private equity firm specializing in spinouts, buyouts and recapitalizations of established technology businesses. Among Vector's investments are LANDesk Software, Savi Technology, SafeNet, Precise Software Solutions, and Watchguard Technologies.

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Fabless semiconductor startup company Celeno Communications has closed a strategic $16 million in a Series C investment round led by Cisco Systems. Miven Venture Partners and the company's previous investors, Greylock Partners and Pitango Venture Capital, also participated in this financial round. Total investment in the three-year old company now exceeds $30 million.

Celeno is a provider of semiconductors for multimedia Wi-Fi home networking applications. The company standards-based Wi-Fi System on a Chip enables applications such as IPTV streaming, multi-room DVR content distribution and marrying the PC network with multiple TV screens - with full home coverage and no new wires. Wi-Fi silicon components for multimedia distribution are integrated in devices such as residential gateways, set top boxes and home routers.

"Cisco's expertise in home networking and video distribution brings complementary skills to address service providers' and consumers' needs for robust, carrier-grade IP video distribution solutions in the home,” Gilad Rozen, CEO of Celeno.

Celeno was founded in 2005 by Rozen, who previously served as SVP of products and technology and VP of engineering at Actelis Networks. The company chairman of the board is Dr. Jozef Straus, who served as the CEO of JDS Uniphase from May 2000 until August 2003.

Yoram Snir who joined Greylock as a partner in 2005 after seven years at Cisco Systems, ia another member of Celeno board. At his last position with Cisco Snir was responsible for its acquisitions, investments and strategic partnerships efforts in Europe, Asia Pacific and Israel.

Celeno headquarters and R&D center are in Ra'anana, Israel. The marketing and business development office is in Silicon Valley, California.

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Endpoint virtualization security solutions provider Neocleus has raised $11.4 million in Series B financail funding led by Battery Ventures and Gemini Israel Funds.

Neocleus applies security virtualization solutions to desktops and laptops, which enable critical IT tasks to operate in isolated, trusted virtual environments with complete access to the capabilities offered by the underlying endpoint hardware.

In May 2008 the company launched its Desktop Hypervisor Framework, an endpoint hypervisor enhancement to the Xen server hypervisor that the company will be contributing to the open source community to foster an ecosystem of innovation. In early June Neocleus announced Trusted Edge, the first in a suite of virtual software appliances that allows for secure access to corporate resources regardless of the endpoint’s location or state of security.

“Endpoint challenges have grown exponentially as the number of different user scenarios have increased and evolved, introducing new complexities and new IT requirements,” said Adi Pundak-Mintz, General Partner, Gemini Israel Funds.” Neocleus’ solutions address this burgeoning market with a strong vision, technology innovation, solutions and a proven management team.”

Neocleus was founded in 2006 by Ariel Gorfung (CEO) and Etay Bogner (CTO). Gorfung recently served as the CEO of Intuwave, a provider of connectivity middleware to the Symbian mobile operating system. Prior to joining Intuwave, Gorfung co-founded e-Sponsor, which was acquired by Intuwave in October 2000. Bogner was the co-founder of and managing director of SofaWare, which Check Point Software acquired a majority share. Neocleus headquartered in New Jersey, UA, and its R&D center located in Tel Aviv, Israel.

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Mobile backhaul optimization solutions provider Celtro has raised $20 million in financing round led by Rho Ventures, with the participation of existing investors Genesis Partners and Cedar Fund. The company will invest the proceeds to further expand international operations and to penetrate new markets.

Celtro provides creative mobile backhaul switching solutions that improve service delivery, increase network efficiency, and facilitate smooth backhaul network evolution - helping providers enhance revenues, improve customer satisfaction, lower operational costs and optimize their backhaul network assets. The company has commercially deployed its backhaul switching products in the mobile networks of more than 50 leading operators.

Headquartered in Petah Tikva, Israel, Celtro was founded in 2001 as a business unit within ECI Telecom and was spun-off in 2003 as a privately-owned, independent company.

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