Israel’s Komodor, Faye get VC cheques; Leumi backs another fund

 Israel’s Komodor, Faye get VC cheques; Leumi backs another fund

Israeli startup Komodor, which has developed a platform for Kubernetes, an open-source system for automating deployment, scaling, and management of containerized applications, has raised $42 million in a Series B round.

The round brings the total money raised by Komodor to $67 million. Tiger Global Management led the new round, with follow-on cheques from Felicis Ventures, Accel, NFX Capital, and Pitango First.

The startup said the new money will be used partly to hire up to 60 more people in Israel. The Tel Aviv-based company currently employs 40 people and claims to have registered a revenue growth of 700% over the last nine months, while tripling its headcount in the same period.

It counts among its clientele several marquee names such as monday.com, Aqua, Yotpo, Intel, and Logz.io.

Komodor was founded in 2020 by chief executive officer Ben Ofiri and chief technology officer Ittiel Schwartz.

Faye

Israeli travel insurance startup Faye has raised $8 million in a seed funding round led by Viola Ventures and F2 Venture Capital.

Portage Ventures, Global Founders Capital (GFC), and former NBA player Omri Casspi joined the round.

The announcement comes barely a month after the company said it had exited stealth mode and was offering its travel insurance solutions to US customers.

Faye says its platform covers travellers on their trips, traveller’s health and also their pets, who may be travelling with them.

Faye was founded by chief executive officer Elad Schaffer and chief technology officer Daniel Green.

Q Fund

Almost nine months after they agreed to jointly invest in auto-tech companies, two prominent Israeli business houses that import cars into the tiny West Asian country—the Linvat and Unger families—have reportedly come together to set up a new $30 million venture capital fund that will back tech businesses.

Shay Linvat of the Taavura Linvat Group and Gadi Ungar, the chief executive officer of Talcar, have set up the Q Fund. The fund will also be backed by Leumi Partners, which manages a diversified portfolio of investments worth $1.2 billion, across sectors such as real estate, energy and technology.

The Q Fund will back companies at the seed stage, going up to Series A in sectors such as automotive, mobility, industry 4.0 and logistics.

The Q Fund will effectively be a financial arm of a joint innovation centre that was founded by the two families a couple of years back. The centre, which operates under the so-called Quantum program, allows startups to conduct proof of concept runs and connects them to potential customers.

Also read: Leumi Partners to set up new tech investment fund

Aman Malik

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