$1 billion investment in Israeli high-tech in single day during first week of April

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$1 billion investment in Israeli high-tech in single day during first week of April

Israel21C via JNS
By Abigail Klein Leichman

Two unicorns—Trax Image Recognition and Redis Labs—helped push total funding beyond that of the previous month, indicating that Q2/2021 is going to be a doozy.

Following on the heels of a month marked by mega investments and a quarter in which Israeli companies raised a record $5 billion, April seems set to meet or beat those fundraising achievements.

Some $1 billion in investments was reported on a single day of the first week of the month, indicating that that Q2/2021 is going to be a doozy.

The two companies accounting for most of that sum are among Israel’s many unicorns: Trax Image Recognition ($640 million in a Series E financing round led by SoftBank Vision Fund 2) and Redis Labs ($110 million in a Series G round led by Tiger Global with participation from SoftBank Vision Fund 2 and TCV, plus a $200 million secondary transaction).

Trax is using computer vision and other digital technologies to reimagine the retail landscape for more than 250 consumer packaged goods companies and retailers in over 90 countries, while Redis Labs helps many clients with its fully managed serverless cloud database service.

The first week of April also saw investments of $77 million in fintech company TipRanks and $75 million for WhiteSource, an open-source security and license compliance management platform.

This article was originally published by Israel21c.

Caption: TipRanks employees celebrate a $77 million funding round in April 2021.
Credit: TipRanks.


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