Sumitomo’s Israeli VC firm raises second fund; Peech gets seed cheque

 Sumitomo’s Israeli VC firm raises second fund; Peech gets seed cheque

Israeli venture capital firm IN Venture has raised $150 million for its second fund, two years after the launch of the $100-million maiden vehicle.

IN Venture is the Israeli VC arm of Japan’s Sumitomo Corp and invests mainly in deep-tech early-stage startups. The VC firm is led by managing partners Eitan Naor and Eyal Rosner.

The first fund has made seven investments till now. These include quantum computing startup Classiq and visual content creation platform Bria. It also invested in Ottopia, which is developing solutions for remote operation of vehicles, and H2Pro, which is developing cheaper hydrogen fuel produced by sustainable energy.

IN Venture has also made one exit so far. It has exited digital asset-focused cybersecurity company GK8, which was acquired by the now-defunct Israel-American crypto company Celsius for $115 million.

Rosner was earlier the chairman and director of administration for the Alternative Fuels Initiative in the Israeli Prime Minister’s Office. Naor is the former chief executive officer of ECI Telecom subsidiary ECtel and former CEO of TTI Telcom. He had also previously worked as a vice president at Amdocs.

Peech

Peech, an Israeli startup that has developed an automatic video editing and natural language processing solution, has raised $8.3 million in a seed funding round.

The round was led by Ibex Investors with participation from Cardumen Capital, Fresh Fund and angel investors Nas Daily and Ariel Maislos.

Peech says it has already completed a beta program with SimilarWeb, Namogoo, Hibob, Natural Intelligence, Circles, and others. It says it is now opening its platform up to new customers and will use the funding to expand its AI capabilities and to diversify its media creation solutions.

“People are watching more videos than ever before, and it has become inherently clear that professional and impactful video content is the future of digital marketing,” says Nicole Priel of Ibex Investors.

“With Peech, brands are able to remove their dependency on external experts, tools, or websites, allowing content teams to create high quality video content by themself, while maintaining professional and branded standards,” said Danielle Dafni, CEO and co-founder of Peech.

Aman Malik

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