Quantum Hub
Deal Flow
January 2024
Dear Partners,
Welcome to Quantum's January 2024 Deal Flow report!
You will find 4 sections in the report:
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Discover the latest in the Israeli tech ecosystem with our Ecosystem News, highlighting events, announcements, & investments.
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Stay informed about Quantum activities in our Quantum Hub News.
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Explore our Spotlight section for in-depth insights into the most intriguing companies of the month.
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For a comprehensive overview, dive into our Full Deal Flow Report, featuring relevant companies from our focal sectors.
We value your feedback, so feel free to share your thoughts and questions!
#2
Chinese Car Giant Taps Israeli AI Chips For Automated Systems
Hailo, an Israeli company making artificial intelligence processors, has been selected by automotive company iMotion, a leading Chinese provider of autonomous driving solutions, to place two of its chips in its systems.
The Hailo-8 AI accelerator and the Renesas R-Car V4H SoC will power iMotion’s advanced driver-assistance systems (ADAS) and automated driving (AD), making applications such as autopilot navigation and automated parking more viable and affordable for mass market vehicles.
“The integration of Hailo’s groundbreaking Hailo-8 AI accelerator and the high-performance Renasas R-Car V4H SoC significantly improves the affordability of iMotion’s AD/ADAS domain controller while enabling best-in-class processing capabilities, an important development in our shared commitment to make advanced automated driving safer and more affordable for all vehicles,” said Hailo CEO Orr Danon.
#1
Google Allocates $4 Million Support Fund for Israeli AI Startups Amid War
Google has announced a $4 million support fund for Israeli AI startups in response to the October 7th attack. The fund, which complements the Israeli Innovation Authority's emergency fund, aims to provide rapid financial assistance to approximately 20 startups facing urgent funding needs. In addition to monetary support, Google will offer mentorship and expertise in various areas such as development, strategy, and marketing.
The grant is part of Google's ongoing commitment to Israel's startup ecosystem and is a component of an $8 million fund allocated by Google for Israel. This includes a $3 million donation to the Natal organization for trauma support and $1 million in search ads for Israeli nonprofits.
#3
Bluewhite Raises $39 Million to Bring Autonomous Innovation to Farms Worldwide
Bluewhite, an agricultural Robot-as-a-Service (RaaS) company, has secured $39 million in a Series C financing round led by Insight Partners, with participation from Alumni Ventures, LIP Ventures, and existing investors.
The company's product, Pathfinder, is designed to be retrofitted onto tractors, utilizing computer vision and AI to autonomously perform a range of tasks such as seeding, spraying, mowing, and harvesting. Bluewhite currently collaborates with more than 20 leading permanent crop growers in the U.S.
The funds from this financing round will be used to scale its agricultural autonomous tractor and farming solutions and expand into new global markets. This brings Bluewhite's total funding to $89 million. The company's integrated hardware and software solution enables remote fleet and data management. The Pathfinder product, combined with the Compass software-as-a-service (SaaS), leverages advanced AI algorithms to analyze field data in real-time, providing farmers with dashboards, reports, and insights for efficient farm operations. With the global market for autonomous tractors expected to reach $11.5 billion by 2030, Bluewhite aims to address challenges in agriculture, including labor shortages and rising operational costs.
The company's autonomous solution has already demonstrated success, with over 50,000 hours of autonomous farming activity across 150,000 acres of crops in California and Washington.
Ecosystem News
We have officially opened the 7th cohort of the SPARK program!
This month marked the initial meeting of the 7th cohort of the SPARK program at Quantum Hub's offices. In this cohort, we have selected six startups through an intensive screening process, and they are ready to embark on a transformative journey with the Quantum team alongside our esteemed Israeli and international partners.
Please find below details about the selected startups, with a brief description:
Quantum @ CES 2024
Each year, the CES conference serves as a center for the latest and most groundbreaking technological advancements from nations across the globe.
This month, Quantum Hub had the honor of attending CES 2024 in Las Vegas. With over 4,300 exhibitors, including a record-breaking 1,400+ startups from around the world, CES showcased innovative trends shaping tomorrow and addressing the world’s most pressing challenges.
The event attracted more than 135,000 attendees, marking a notable 17% increase from the previous year, with a record 40% representing 150 countries, regions, and territories.
Quantum News
Advanced 3D Imaging Technology
PxE Holographic Imaging has developed a full-stack perception solution, a ground-breaking combination of HW and SW that is deployable to any platform.
It consists of a HoloCoder-enabled camera that sees more information (RGB-IR-Depth) coupled to PxE’s lighting-fast algo for building an accurate model of the world.
Distinctiveness:
> Raised $5.4 million Seed Round, which brings the company’s total investment to $6.5 million.
Details:
Founded: 2018
Funding: Seed
Industries: Industry 4.0 & Automotive
Product: Beta
Spotlight
MADA Analytics
Dispatchable Capacity Systems with Long-duration Energy Storage
Differential Lock Development
Differential Lock
Purammon
Converting Industrial Wastewater into Green Hydrogen
Full Deal Flow