Israel’s Aquant, NeuroBlade, two others raise nearly $200 mn in VC funding

 Israel’s Aquant, NeuroBlade, two others raise nearly $200 mn in VC funding

Israeli technology startups Aquant, NeuroBlade, Duality and BeeHero have secured a total of almost $200 million in funding from investors such as Insight Partners and the venture capital arm of South Korean conglomerate LG Group.

Aquant said it raised $70 million in a Series C funding round led by Qumra Capital, Insight Partners and Pitango Growth. Existing backers Lightspeed Venture Partners and Angular Ventures pitched in, too, Aquant said.

Schneider Electric Ventures and Claltech also joined as new investors in the company.

The new round brings Aquant’s total fundraise to $110 million since it was founded five years ago by Shahar Chen and Assaf Melochna.

Aquant’s artificial intelligence-based platform helps executives of service companies with insights into the state of their organisations. The company has about 100 employees, half of whom work at its research and development centre in Tel Aviv. The company plans to use the new money to add more people to its rolls.

NeuroBlade

NeuroBlade, which provides data acceleration solutions, said it has secured $83 million in Series B funding. This brings its total capital raised thus far to $110 million since it was set up in 2018.

Corner Ventures led the new round. Intel Capital as well as current investors StageOne Ventures, Grove Ventures and Marius Nacht chipped in as well.

Technology companies MediaTek, Pegatron, PSMC, UMC and Marubeni also provided funding during this round.

NeuroBlade said it will use the capital to expand its engineering teams in Tel Aviv and build out its sales and marketing teams globally.

NeuroBlade says it has developed a new data analytics architecture that eliminates major data movement bottlenecks by integrating the data processing function inside memory, better known as processing-in-memory.

The company has more than 100 employees and has begun shipping its data accelerator to customers and partners worldwide. The partners have deploying NeuroBlade’s accelerators into the world’s biggest data centres, it said.

Duality Technologies

Duality, which provides privacy-enhanced data collaboration solutions, has raised $30 million in a Series B round. This brings its total funding to $49 million.

LG Technology Ventures, the VC arm of LG Group, led the round with participation from Euclidean Capital and the National Bank of Canada’s corporate venture capital arm NAventures.

Existing investors Intel Capital, Hearst Ventures and Team8 pitched in, too.

Duality said it will use the funds to expand its go-to-market operations, advance its partnerships with technology vendors, and cement its product and technology leadership in the fields of privacy-preserving machine learning and Privacy Enhancing Technologies.

Duality was founded in 2016. Its founding team includes Turing Award winner Shafi Goldwasser, MIT professor Vinod Vaikuntanathan, Kurt Rohloff, as well as CEO Alon Kaufman and chairwoman Rina Shainski.

BeeHero

BeeHero, an Israeli agri-tech startup, has raised $15 million in a Series A funding round from a bunch of investors including ADM Capital, UpWest, Rabo Food and Agri Innovation Fund, and iAngels.

FirstTime, J-Ventures, Entrée Capital, Good Company, STB Holdings, the Arison Group, and Gaingels also participated in the round.

In addition, the startup received $4 million in grants from the European Commission, the BIRD Foundation, and the Israel Innovation Authority.

This infusion brings the total money raised by the company to $24 million. The company says it will use the money to hire more people for its Silicon Valley office.

BeeHero has developed Internet of Things-based sensors that are inserted into beehives that monitor changes. The startup says it is the fourth-biggest provider of pollination in the US.

Aman Malik

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