Quantum Hub
Deal Flow Report
November 2023
Dear Partners,
We are happy to share the November 2023 deal flow report.
You will find 4 sections in the report - Ecosystem news, Quantum news, Spotlights, and the Full Dealflow report.
As always, we would appreciate any feedback and questions on the focus areas and reviewed companies.
Ecosystem News gives a glimpse of interesting events/ announcements/ investments information related to the Israeli tech ecosystem.
Quantum Hub News shares interesting news related to Quantum activities.
Our Spotlight section highlights that provides more information on companies we found most interesting in the past month.
Finally, we provide the full deal flow of the month, including relevant companies from our focal sectors.
Ecosystem News
Cyber unicorn Wiz makes first acquisition with purchase of Israeli startup Raftt
The value of the deal was not disclosed, but it is estimated that Wiz paid tens of millions of dollars for Raftt, which has developed a cloud-based platform for creating and sharing development environments
Cybersecurity unicorn Wiz is making its first acquisition since its establishment about four years ago, acquiring Israeli startup Raftt, which has developed a cloud-based platform for creating and sharing development environments.
While the value of the deal was not disclosed, it is estimated to be in the tens of millions of dollars. Established in 2020, Raftt raised $5 million led by Aleph VC and Cardumen Capital. A number of private investors from the industry participated in the round, including serial entrepreneurs Ariel Maislos and Benny Schneider, devtools angel investors, Adi Sharabani, founder of Skycure and currently at Snyk, and Ariel Asraf, CEO of Coralogix.
Focusing on the development process, Raftt provides developer environments that run in the cloud, enabling collaboration while using existing local IDEs (Integrated Development Environment) and other tools and workflows. With this tool, developers can eliminate setup and drift between environments and create unlimited environments for every need.
According to Wiz, which raised $300 million in a Series D funding round at a $10 billion valuation earlier this year, its annual recurring revenue (ARR) has already reached over $250 million.
Enhancing Operational Safety: XTEND and DDR&D Collaborate on Remote Military Solutions for IDF
During the war in Israel, it is crucial for the IDF (Israel Defense Forces) to implement systems that can effectively tackle the diverse security challenges confronting Israel.
In a groundbreaking collaboration between XTEND and the DDR&D (Directorate of Defense Research & Development), a pioneering solution has emerged, allowing soldiers to operate remotely, eliminating the necessity for physical presence in high-risk situations.
The joint project harnesses the XTEND operating system (XOS) to facilitate secure and simultaneous remote operation of multiple human-guided, semi-autonomous drones. These drones, equipped with the Xtender ISR micro-tactic system, are engineered to execute complex tasks with precision, ensuring soldiers remain out of harm's way. The Xtender, described by defense officials as the "thirteenth fighter" on the team, conducts intricate tactical activities in urban environments, utilizing cutting-edge technology embedded in the XOS.
During testing, the Xtender proved to be an invaluable asset, capable of entering remote target sites, conducting reconnaissance and data collection tasks, identifying potential threats, and placing light explosive charges with extreme accuracy. Its seamless navigation, unaffected by indoor-outdoor transitions or GPS-denied locations, enhances its effectiveness in various operational scenarios. This collaborative effort marks a significant stride in enhancing the IDF's capabilities and safeguarding the lives of soldiers.
Quantum Hub News
TriEye <> Hyundai PoC
Quantum Hub, in collaboration with Hyundai, has teamed up with TriEye to bring Short-wave Infrared (SWIR) technology to the masses, offering a cost-effective solution for autonomous vehicles. TriEye's SWIR tech, powered by the SEDAR platform, ensures HD imaging and precise 3D sensing in all weather conditions.
The Technology:
TriEye's SWIR emerges as a game-changer, offering a viable alternative to traditional cameras and lidar. Comparative analysis against Opsys LiDAR and Ground Truth data showcased SWIR's potential, promising safer and more efficient autonomous capabilities.
The PoC:
We conducted a robust PoC, testing nearly 200 scenarios across daylight, sunset, and nighttime. TriEye's SWIR excelled in scenarios involving diverse real-world objects at varying distances (60 to 200 meters).
This collaboration aims to enhance autonomous vehicle capabilities by integrating SWIR technology. The focus on HD SWIR imaging and precise 3D sensing signifies a leap forward in creating a safer and more reliable autonomous transportation solution.
Watch the PoC video >>>
In August, Quantum Hub successfully executed a three-day PoC in collaboration with Coreteel and VDL Laktechniek, a sub-company of VDL Groep. The PoC took place at the VDL Laktechniek factory, located in Eindhoven, the Netherlands.
The Technology:
Coreteel specializes in developing environmentally friendly solutions for preventing metal corrosion. Its materials can be applied through spraying or dipping processes at room temperature. Coreteel’s technology uses the metal itself as a reactant in a chemical transformation of the surface, enabling the formation of layers that provide high corrosion protection.
Coreeteel <> VDL Laktechniek
The PoC:
During the PoC, metal components sourced from the automotive industry underwent a transformative process. These components were coated with Coreteel's material, replacing specific steps within VDL Laktechniek's existing e-coat and powder-coating paint systems. The integration of Coreteel's material into the existing process was meticulous, aiming to showcase its compatibility and efficiency within the established framework. Notably, the selected automotive components adhered to the industry's stringent standards, and OEM experts were actively engaged in the PoC, tailoring the solution to the industry's unique needs.
To ensure precision in the evaluation of results, all coated parts will undergo comprehensive testing at a third-party laboratory specializing in automotive industry requirements. The testing regimen covers various environmental conditions, including grinding, salt cells, temperature variations, and resistance to UV and chemicals, among other parameters.
SPARK #7 Program - Screening Committee
On November 27th-28th, we conducted a virtual screening committee for the 7th batch of the SPARK program, featuring 18 startups from the Automotive, Energy, Industry 4.0, and Logistics sectors.
The startups presented 10-minute pitches to Quantum’s partners, who joined from all over the world: Korea, the Netherlands, the Balkans, and Israel.
The screening committee's goal was to present Quantum's partners with the most innovative startups for evaluation and potential collaboration in PoC projects. Throughout the pitch sessions, the audience assessed each startup based on the overall impression of the solution, identifying an ideal champion to lead the project, and evaluating the fit for the SPARK program.
Following the screening committee, the most suitable startups will be accepted into the program to initiate collaboration with a specific business unit of one of our partners. Throughout the program, Quantum, along with the startup and the business unit, will develop a roadmap for PoC execution, encompassing a PoC proposal and a SOW for the execution phase. Beyond PoC execution, the primary program objective is to facilitate commercial discussions between the startup and the dedicated partner.
In case you missed the screening committee, you can find all startup pitches below. Simply click on the name of the sector you would like to learn more about, and you will find all the startup pitches in that sector.
Did you see a startup that might be of interest to your company? Let us know in the link below, and we'll get you connected.
Spotlight of the Month
Operating System for Quantum Computers
Qedma Quantum Computing is aiming to develop an operating system for quantum computers by developing quantum-computer-based software solutions.
Qedma's operating system is designed to improve the accuracy of quantum computers, speed up their performance, and unleash their computational power, ultimately leading to quantum computational advantage.
Distinctiveness
> Qedma's CSO, Dorit Aharonov, presented the latest and greatest of Qedma's error mitigation software at the IBM summit in Dec 2023 - the largest ever demonstrated quantum active volumes with unbias.
Company ID
Founded: 2020
Funding: Seed
Industries: Quantum Computing
Product: Customer Development
Qedma's Solutions
Reversible Fuel Cell Technology
RefHuel is developing a reversible fuel-cell (RFC) technology, based on a proprietary liquid hydrogen carrier, that will enable the efficient production and storage of clean energy. The company's technology will allow energy users to rely solely on green energy while alleviating concerns about the volatility of green energy production.
Distinctiveness
> Signed a license agreement with BIRAD, a research and development company affiliated with Bar-Ilan University in Israel.
Company ID
Founded: 2022
Funding: Seed
Industries: Energy
Product: R&D
Website
The Technology
Enable light, highly affordable, on-demand commercial access to space
Developing an electromagnetic-based rocket launch system for small satellites and cargo. This innovation is expected to reduce rocket size by more than 50% while increasing the payload-to-rocket ratio by more than 200%.
By providing high-availability launches with low prices per kilogram, Moonshot will solve the supply bottleneck for small satellite launches to low Earth orbit, which includes >18K small satellites waiting to be launched by 2031.
Distinctiveness
> Shahar Bahiri - Co-Founder & CEO won at CES 2020 Best of Innovation Award winner & selected in the Forbes 30 Under 30 List.
Company ID
Founded: 2023
Funding: Pre-seed
Industries: Space & Aviation
Product: R&D
Potential Use Cases
Wireless Power Transmission Solution
Elssway has developed a wireless power transmission solution that utilizes conductive paint to convert any surface into a wireless charging platform. This innovation significantly simplifies infrastructure and reduces costs while enabling power transmission on the move. In applications like parking lots, one charging station can serve the entire area, and in logistics, robots can charge continuously while performing their tasks.
Distinctiveness
> Conducted a pilot in Israel with the electric scooter startup.
> Selected to start a pilot in Tel Aviv with the "Auto Tel" - a car-sharing company, so they will use their technology to set up wireless charging stations for electric cars all across the city.
Company ID
Founded: 2023
Funding: Pre-seed
Industries: Smart Mobility
Product: Released
Website
Potential Use Cases
Full Deal Flow of the Month
Title | Solution | Description | Industries | Next Step |
|---|---|---|---|---|
BioFoaming | Mobile Wastewater-to-Construction Materials Production | BioFoaming is developing an autonomous mobile production line, housed within a container, that efficiently produces high-quality construction solids such as bricks, gypsum boards, paving stones, and tiles. | Industry 4.0 | |
NYX | AI-powered CNC Machines | Developing intelligent and
user-friendly machines specifically designed for processing metals, composites, and polymers. | Industry 4.0 | |
Tamicare | Additive Manufacturing for Textiles and Non-woven Materials | A 3D printing process for making textile products. The technology is designed to create finished products with no need for cutting and minimal waste. The process can also add perforations, embossing, patterns, and decorations. | Industry 4.0 | |
Cynergy | A cyber-security Automation Platform | Cynergy provides an affordable cyber-security automation platform for SMB that need to grow continuous automated security practices and aggregates them under one all-inclusive platform. | Industry 4.0 | |
Aqualitas | Real-time Water Quality Monitoring Platform | Developed advanced machine learning and AI models that monitor the operational stability of sensors on its proprietary water quality monitoring platform and perform automatic calibration without human interaction or cleaning. | Industry 4.0 | |
Shifters AI Robotics | Building Smart Robots | Shifters AI Robotics develops an innovative robotic platform utilizing advanced AI technology for unparalleled legged maneuverability and performance. | Mobility & Automotive | |
ELSSWAY | Wireless Power Transmission Solution | A solution for wireless power transmission. Using conductive paint to convert any surface into a wireless charging surface. The company is substantially reducing infrastructure complexity and cost and the ability to transmit power in motion. | Mobility & Automotive | |
Proxyfence | A Smart & Adaptive Platform for Continuous API Behavior Analysis | ProxyFence detects and learns system APIs, generates up to date automatic documentation, saves complete
requests logs history in a compressed manner for future analytics ,behavioral analysis and debugging. | Logistics | |
Octup | Centralizes Cross-business Data into One Dashboard | Octup centralizes the users' cross-business data into one dashboard. The company allows the users to discover frictions, get real time actionable insights using Artificial intelligence and create automation flows. | Logistics | |
HYS Energy | Modified Direct Seawater Electrolysis Process for Efficient Green Hydrogen Production | A new electrochemical process for utilizing sulfur-containing acid gases. The company uses a waste-to-energy approach for cleaner, safer, and more efficient treatment of sulfur-containing harmful byproducts of oil and gas and other industries. | Energy | |
Refhuel | Reversible Fuel Cell Technology | A reversible fuel-cell technology, based on a proprietary liquid hydrogen carrier, that will enable the efficient production and storage of clean energy. | Energy | |
RECIV.net | Marketplace for Renewable Energy Investments | An energy-as-a-service investment marketplace that facilitates direct participation in renewable energy projects for both energy developers and investors. | Energy | |
TriSolar InnoWadi | Solar System for Greenhouses | TriSolar's system is designed to provide higher year-round yields with more renewable energy per hectare and a very low environmental footprint. | Energy | |
Yokaranda | Performance Management for AI/ML Applications | By correlating deviations in application behavior across thousands of instances, Yokaranda proactively alerts on performance issues and identifies the root cause of the problem before it impacts the business. | Other | |
Qedma | OS for Quantum Computing | Qedma Quantum Computing is aiming to develop an operating system for quantum computers by developing quantum-computer-based software solutions. | Other | |
Moonshot | Enable light, Highly Affordable, On-demand Commercial Access to Space | An ultra-light, highly affordable, and on-demand access to space by developing an electromagnetic-based rocket launch system for small satellites and cargo.
| Other | |
Firewave | Sensing Wildfire for Quick and Data-driven Response | Using an IoT network, detectors, and algorithms for early detection of wildfire. By integrating geographic and meteorological data with the information from their sensors, the system will notify customers upon detecting any signs of ignition. | Other | |
NWPT | Desalination Technology Based on Active Nano-Particles | The technology extracts the salt ions from the water using magnetic nano-robotics, which significantly reduces costs, improves water quality, and sustainably keeping the environment safe. | Other |