Israel’s Firebolt, Tonkean, env0, Cardiac Success pocket $200 mn from VCs

 Israel’s Firebolt, Tonkean, env0, Cardiac Success pocket $200 mn from VCs

Firebolt CEO Eldad Farkash and COO Saar Bitner. Photo credit: Company/Facebook

Israeli startups Firebolt, Tonkean, env0 and Cardiac Success Ltd have raised a total of almost $200 million from marquee venture capital firms including Accel and M12.

Firebolt, a cloud data warehousing company, led the fundraising as it snagged a $127-million cheque in a Series B funding round led by new investors Dawn Capital and K5 Global led the round.

Existing investors including Zeev Ventures, TLV Partners, Bessemer Venture Partners, and Angular Ventures participated, too, Firebolt said.

The fresh capital adds to the $37 million the two-year-old startup had raised in a Series A round in December 2020.

Firebolt, which competes with the likes of Amazon, Google and Snowflake, will use the money to establish its US headquarters in San Francisco. The company currently works out of Israel, Munich, London, Dublin, Kiev, and Cluj (Romania). It also plans to double its workforce of 100 people over the next one year.

The startup was founded by chief executive officer Eldad Farkash, chief operating officer Saar Bitner and Ariel Yershovitz, who is no longer associated with the company. Farkash was also the founder and chief technology officer at Sisense.

Tonkean’s Series B

Tonkean, which is developing an operating system for business operations, has raised $50 million in a Series B round led by marquee venture capital firm Accel.

Lightspeed Ventures, which led the startup’s Series A financing round of $24 million in 2020, also took part in the latest round.

Foundation Capital and a bunch of individual investors including Zoom CEO Eric Yuan, Atlassian co-CEO Scott Farquhar, former Google CEO Eric Schmidt, and executives from UiPath pitched in as well.

The company was founded by chief executive officer Sagi Eliyahu and chief technology officer Offir Talmor.

It will use the latest funding to hire more people. The company employs 60 people at present, three times the number it did before 2020.

M12 backs env0

Israeli startup env0, which offers an automated, collaborative, remote workflow system, has raised $17 million in a Series A financing round led by M12—Microsoft’s venture fund.

Current investors Boldstart Ventures, Grove Ventures and Crescendo Ventures also participated in the round.

With the latest fundraise, the startup has mobilised a total of $23.8 million so far. The company said it will use the fresh capital to expand its Infrastructure as Code (IaC) platform and accelerate visibility, predictability and governance of cloud deployments.

Cardiac Success

Meanwhile, medical devices startup Cardiac Success Ltd has raised $5.2 million in Series A funding from venture capital firm 415 Capital and other investors.

The company said a global investor, which is a “strategic leader in structural heart interventions”, joined the round. It didn’t disclose the name of this investor.

The Yokneam, Israel-headquartered company is developing a transcatheter ventricular repair device for heart failure patients. It was founded in 2017 in the Alon Medtech Ventures’ incubator by serial entrepreneur Shimon Eckhouse and David Neustadter (chief technology officer).

The company’s management team includes chief executive officer Boaz Manash, who earlier headed the Sapien M3 mitral valve program at Edwards Lifesciences, and chief medical officer Rafael Beyar, a cardiologist and former director of Rambam Medical Center.

Cardiac Success says it has developed the “V-sling” system, which aims to provide a new treatment approach by transforming an invasive open-heart surgery into a safe and effective minimally-invasive transcatheter procedure.

Aman Malik

The Capital Quest