Israeli startups PlanetWatchers, OutSense, Lydus Medica grab early-stage cash
Israeli crop monitoring company PlanetWatchers, Internet of Things-based startup OutSense and medical devices maker Lydus Medica have secured early-stage financing.
PlanetWatchers, which helps provide detailed insurance claims assessment in under an hour, has raised $3.5 million in a pre-Series A funding round led by Seraphim Capital and Creative Ventures. The Trendlines Agrifood Fund and Ridgeline Partners also invested in the round.
PlanetWatchers said it will use the money to expand its commercial team and invest in technology to ensure it becomes the market leader in Synthetic Aperture Radar-based data analytics.
PlanetWatchers uses time series-based radar data to provide detailed analysis of claims without ever visiting the field. It works with crop insurance company ProAg, the World Bank and the Environmental Protection Agency, among others.
OutSense has expanded its Series A funding round to $2.7 million, with fresh funding from Longevity Venture Partners.
The startup, which makes IoT-based toilet sensors that help predict early illness, said that Longevity will begin piloting its technology and that it will deploy the money to begin large-scale production of its devices.
The startup is conducting clinical trials in Japan and Israel, and says that its production will run alongside Longevity Partners’ parent company and a US-based healthcare major that runs more than 90 facilities across the country.
Promoted by the US-based CommuniCare Family of Companies, Longevity is an early-stage investor in the healthcare and wellness sectors. The fund invests in four to six Israeli companies a year.
Automated microvascular anastomosis device provider Lydus Medica has raised $2.7 million in seed funding. The round was led by a US-based strategic player, Israeli tech news publication Calcalist reported. It didn’t identify the investor, but said Sanara Ventures and existing shareholders joined the round.
A bunch of other investors including Mor Research, Technion and Glenrock, Leon Recanati’s private equity investment company, pitched in, too.
The company will use the money to accelerate its product clearance by the US Food and Drug Administration, as it looks to scale its product for the market.
The company has developed a surgical device that helps with the precise, symmetrical, and rapid connection of blood and lymph vessels ranging between 0.5 mm and 4 mm in diameter.