Hong Kong-based blockchain gaming unicorn Animoca Brands has acquired Israeli edtech startup TinyTap at a valuation of $50 million.
The Hong Kong-based Animoca will acquire 80.45% of the Israeli company for $38.875 million in a cash and stock deal.
TinyTap is a user-generated content educational technology company that provides a no-code platform enabling educators to create and distribute interactive educational content while earning a usage-based revenue share.
Animoca said it the acquisition will help it establish a new business segment for blockchain-based user-generated educational content that will allow educators worldwide to generate their own equity.
The 30-employee strong TinyTap was founded in 2012 and has raised $13 million from investors including Aleph Venture Capital, Inimiti, Reinvent VC, Omega Group Enterprises Ltd, and Radiant Ventures HK.
Tel Aviv-based fintech startup Rewire is acquiring local startup Imagen, which develops prepaid salary cards.
Rewire, which has developed an international platform for financial services for migrant workers, said the acquisition will allow tens of thousands of migrant workers in Israel to receive their salaries from their employers by using the rechargeable card.
Imagen was established by Snapir Chayat, and has its offices in Emek Hefer. It has raised only about $2 million to date, but it handles salaries reaching one billion shekels a year. The company employs 13 people, who will join Rewire’s 132 employees, the vast majority of whom are in Israel.
Chayat, who serves as CEO of Imagen, will now serve as director of smart card services and will report to Rewire CEO Guy Kashtan.
Rewire was founded in 2015 by Kashtan together with Adi Ben Dayan (VP of R&D), Saar Yahalom (CTO) and Or Benoz. To date, the company has raised $62 million in Series A and B rounds, as well as a $15 million line of credit.
The $20 million Series B in March 2021 was led by OurCrowd, and included new investors Renegade Partners, Glilot Capital Partners, and Jerry Yang, former Yahoo! CEO and director at Alibaba, through AME Cloud Ventures.
They were joined by current investors including Viola Fintech, BNP Paribas through its venture capital fund Opera Tech Ventures, Moneta Capital, and angel investors.