Qualcomm buys Cellwize; Holisto inks SPAC deal; Odeeo snags seed funding

 Qualcomm buys Cellwize; Holisto inks SPAC deal; Odeeo snags seed funding

Engineers on rooftop testing 5G. Photo credit: Qualcomm

US semiconductor major Qualcomm has acquired Cellwize Wireless Technologies Pte Ltd, one-and-a-half year after first making a minority investment in the Israeli startup via its venture capital arm.

Qualcomm said Cellwize’s 5G network deployment, automation, and management software platform capabilities will strengthen the company’s 5G infrastructure solutions to fuel the digital transformation of industries.

The chipmaker didn’t disclose financial details of the deal, but Israeli media pegged the deal value around $350 million.

The Israeli company has raised $56 million since it was founded in 2012 by Daniel Dribinski and Sasi Geva, who are no longer associated with it. This includes $32 million in a Series B round in November 2020 from investors led by Intel Capital and Qualcomm Ventures. Samsung Next and Verizon Ventures had also taken part in the round.

Viola Ventures, one of the most active Israeli VC firms, is also an investor in the company.

Cellwize has 240 employees on its rolls, of which 80 are in Israel. The company operates across 16 countries. Cellwize CEO Ofir Zemer has joined as vice president of product management at Qualcomm.

Holisto

Holisto, an Israeli-origin online ticketing platform, is going public on the Nasdaq stock exchange by merging with a blank cheque company in a deal that will value it at $405 million.

Holisto is merging with Moringa Acquisition Corp, a special purpose acquisition company (SPAC). It will garner $115 million when the merger closes by the fourth quarter of 2022.

The online travel booking platform uses artificial intelligence-based technology that helps analyse hotel rates and plans across multiple sources of inventory.

The company’s revenue numbers though have been muted, although at $7.18 million in the first quarter of 2022, it generated more than three times the amount it did in the first quarter of 2021.

Holisto was founded in 2015 by Avi Wortzel, Eran Shust, and Shay Horovitz. It has raised $9.3 million so far. The company employs 370 people.

Odeeo

Odeeo, an Israeli startup that has developed an in-game audio advertising platform, has raised $9 million in a seed round led by early-stage gaming venture capital firm Play Ventures.

Play Ventures was joined in the round by media and entertainment group Global, and by gaming founders and angel investors such as Eric Seufert (Heracles Capital), Anton Gauffin (founder of Huuuge Games), Christian Calderon (founder of GameJam) and Lior Shiff (founder of TripleDot Studios).

With the latest round, the company has raised $10 million.

The Tel Aviv-based gaming startup was founded in 2021 by chief executive officer Amit Monheit and chief operating officer Elad Stern.

Aman Malik

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