Israel’s Deci, Gigantic snag funding cheques; Optimove buys UK firm

 Israel’s Deci, Gigantic snag funding cheques; Optimove buys UK firm

Israeli startup Deci has raised $25 million in a Series B funding round led by New York-based Insight Partners.

Insight Partners, which has backed dozens of other Israeli startups, was joined in the round by Deci’s current backers Square Peg, Emerge, Jibe Ventures, and Fort Ross Ventures, as well as new investor ICON.

Deci says its deep learning platform helps data scientists eliminate the artificial intelligence efficiency gap by adopting a more productive development approach.

“The growing AI efficiency gap only further highlights the importance of ‘shifting left’ – accounting for production considerations early in the development lifecycle, which can then significantly reduce the time and cost spent on fixing potential obstacles when deploying models in production,” said Yonatan Geifman, CEO and co-founder of Deci.

Gigantic

Israeli mobile arcade games developer Gigantic has raised $7 million in a round led jointly by MoreTech Ventures, NFX and Vgames.

This follows an earlier round in December 2020 when it had raised a similar amount from NFX Capital and Union Tech Ventures.

Gigantic was founded in 2018 by Ron Brightman and Oded Frommer. The startup offers a connected reality gaming company, where players control real arcade machines through mobile apps, essentially converging the digital and the real world.

Optimove

Israel-based CRM marketing platform Optimove has acquired British cloud-based personalisation platform Graphyte.

No financial details of the acquisition were disclosed but the move is significant as it comes soon after Optimove acquired Kumulos, which has developed a personalised messaging platform for mobile applications.

Local media reports say that the combined value of acquisition for both companies is around $50 million, of which $40 million would have been Graphyte’s buy price.

The twin acquisitions will potentially help Optimove become one of the leading CRM marketing platforms.

Tel Aviv-based Optimove was founded in 2012 and was bootstrapped for five years before it raised $20 million in a Series A funding round. The company, which employs 370 people, raised another $75 million in September 2021 in a round led by Summit Partners.

Aman Malik

error: Content is protected !!
The Capital Quest