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Quantum Hub
Deal Flow

February 2024

Dear Partners,
Welcome to Quantum's February 2024 Deal Flow report!

You will find 4 sections in the report:​
  • Discover the latest in the Israeli tech ecosystem with our Ecosystem News, highlighting events, announcements, & investments.
     
  • Stay informed about Quantum activities in our Quantum Hub News.
     
  • Explore our Spotlight section for in-depth insights into the most intriguing companies of the month.
     
  • 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!
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#2

Team8 raises $500 million in new funds, taking AUM to over $1 billion

Israeli fund Team8 announced the closing of new funds totaling $500 million, bringing its total assets under management (AUM) to well over the $1 billion mark. Since launching in 2014, the Team8 model has aimed to innovate and extend the traditional venture capital approach by taking a more aligned and operationally intensive approach to investing. To date, Team8 has built 20 companies, invested in an additional 21, and achieved eight exits (including the recent cyber exits of Dig and Talon for a total amount of approx. $1B combined). In addition, it has expanded its focus beyond its original scope of cybersecurity to encompass fintech, data infrastructure, AI, and digital health.

#1

Ibex Investors closes $106 million fund to invest in early-stage Israeli startups

Ibex Investors announces the closing of its fourth Israel-focused fund, Ibex Israel VC II LP, with $106 million in capital commitments. The U.S.-based firm, known for its investments in Israeli startups from pre-seed to pre-IPO stages, emphasizes its commitment to the Israeli ecosystem. Led by Nicole Priel and Gal Gitter, the firm's Israeli team aims to fuel innovation and growth, backed by notable limited partners. With a portfolio of 40 investments, including BeamUp and Appwrite, Ibex Investors continues to capitalize on Israel's tech potential, fostering partnerships with ambitious entrepreneurs.

#3

UVeye, an Israeli vehicle scanner startup raised $100M with General Motors, Hanaco backing

Israeli startup UVeye, known for its AI-powered vehicle inspection systems, has secured $100 million in funding, with General Motors among the investors. The investment aims to drive sales growth and expand manufacturing in North America. Led by Hanaco VC, the Series D round also saw participation from existing investors like GM Ventures and CarMax. UVeye's technology, initially developed for homeland security, uses advanced computer vision and machine learning to conduct rapid vehicle inspections, detecting mechanical issues and anomalies within seconds. The startup plans to introduce its technology to thousands of dealerships, used-car auctions, and fleets across the US in the next three years, while also establishing new manufacturing operations in North America. UVeye has already formed partnerships with major automakers and deployed its systems at over 5,000 locations globally, anticipating significant sales growth in the near future.

Ecosystem News

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Maman Group Tests Autonomous Forklifts

Maman Group - Cargo Terminal representatives, along with Quantum Hub, recently journeyed to Singapore to evaluate innovative autonomous forklift technology developed by XSQUARE, a local start-up. This cutting-edge solution integrates hardware and smart software to streamline cargo handling operations.

 

Throughout the visit, the delegation observed the impressive navigation capabilities and performance of the autonomous forklifts. Additionally, visits to Coca-Cola and Katoen Natie demonstrated successful integration of the technology, enhancing warehouse logistics and productivity.

 

This excursion underscores the potential of autonomous forklifts to revolutionize cargo handling operations, showcasing the Maman Group's commitment to innovation and efficiency.

MedOne <> Coreteel PoC

In collaboration with MedOne, we conducted a PoC with Coreteel at MedOne’s facilities in Tirat Hacarmel.

The Use Case:
At MedOne, we've been addressing the challenge of external water piping corrosion within the cooling system. Factors such as high humidity, salt exposure, and proximity to the sea have contributed to persistent corrosion issues, despite traditional paint solutions.

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.
 

The PoC:

The process involved several steps, including water pressure paint removal, drying preparation, primer painting with Coreteel’s material, application of the first layer of epoxy, coat painting, and concluding with polyurethane paint. By meticulously executing these steps, we are making significant strides in combating corrosion and ensuring the integrity of MedOne’s cooling system water piping.

Quantum News

Gathering Data - Evolution AI

In a collaboration between Hyundai Motor Europe Technical (HMETC) based in Germany, Quantum Hub, Hyundai Cradle Israel & Evolution AI, a pioneering software has emerged, poised to transform the landscape of algorithmic improvements in driving. Named Evolution AI, this software represents a significant advancement in harnessing data to refine algorithms for optimal performance and safety. By integrating GPS and external Inertial Measurement Unit (IMU) data with front-view camera footage, Evolution AI captures a comprehensive view of the driving environment. It goes beyond mere observation, delving into driver-vehicle interactions by monitoring various parameters like acceleration pedal depth, vehicle speed, drive mode selection, brake pedal pressure, hybrid/electric vehicle (EV) data, Advanced Driver Assistance Systems (ADAS) data, and tire pressure.

 

The collaboration with HMETC involved rigorous testing across diverse driving scenarios, from urban streets to intercity routes and race tracks. Each journey served as a learning opportunity, enabling Evolution AI to adapt and fine-tune its algorithms in real-time. Central to Evolution AI's approach is its perspective on the user as a learning machine, continuously evolving by studying driver behavior and vehicle responses.

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Circular Textile Waste Management System

Re-Fresh Global provides circular economy solutions for the textile industry using 

 

Re-Fresh Global’s core technology is a patented biotech process that uses oxidation and fermentation to transform any kind of textile waste into three products: 

  1. Re-Sanpulp - Sanitized textile pulp from synthetic fibers

  2. Re-Nano - Nanocellulose

  3. Re-Thanol - Bio-ethanol from natural fibers
     

These products can be used in a variety of industrial manufacturing uses, ranging from cosmetics to automobile accessories to coating and lamination applications.

Distinctiveness:

>> The company partners with SOEX Textile Recycling to bring their tech to on-site micro-factories.
 

>> Re-fresh Global collaborated with the Volkswagen Group innovation team San their 1 supplier to develop various parts with its Re-SunPulp material

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Details: 

Founded: 2019
Funding: Pre-seed
Industries: Industry 4.0
Product: Beta

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Spotlight

Quasi-CMOS Computing Technology

NeoLogic aims to address the growing demands of video processing, artificial intelligence, machine learning, and data analytics in the cloud and at the edge.

The company develops a patent-pending technology, Quasi-CMOS, which aims to reduce the transistor count of circuits by up to a factor of 3x at any technology node. The designs, developed from the ground up, aim to be scalable and portable to any technology node, seeking to deliver power efficiency, a compact floor plan, and high performance.

Distinctiveness:

>> Raised $8 million in seed funding led by Maniv Mobility, with participation from lool Ventures and M-Ventures.

Details: 

Founded: 2021
Funding: Seed
Industries: Industry 4.0
Product: R&D 

​

Carbon Dioxide Removal

Equatic accelerates and amplifies the ocean’s inherent ability to absorb and permanently store massive amounts of carbon. Simultaneously, Equatic produces carbon-negative hydrogen, a clean energy that can be used to eliminate carbon emissions from industrial processes and transportation, to create Sustainable Aviation Fuels (SAFs), and to power the Equatic process itself.

Distinctiveness:

>> Equatic operates pilot carbon removal systems in Los Angeles and Singapore, with all carbon dioxide pre-sold to companies like Stripe.
 

>> Equatic signed a pre-purchase option agreement with Boeing for carbon dioxide removal and carbon-negative hydrogen supply, aiming for 100,000 metric tons of carbon removal per year by 2026 and commercial facility expansion to about 20 dunams.

Details: 

Founded: 2021
Funding: Seed
Industries: Energy
Product: MVP 

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Generating Power from Air's Water Adsorption

WatAirGy is a developer of a green energy technology that utilizes air's water adsorption capability to generate electricity for households. The system offers a sustainable and continuous power supply without relying on sunlight, which is a significant advantage over solar systems. Unlike wind turbines, it can be installed in various locations, such as garages, attics, or backyards, with no need for costly infrastructure. Moreover, the system emits zero pollutants, making it an environmentally friendly option compared to traditional generators.

Distinctiveness:

>> Raised $1.5 million dollars from the IIA and NetZero Ventures.

Details: 

Founded: 2021
Funding: Pre-seed
Industries: Energy
Product: R&D 

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SeeDoo

SeeDoo

Vision-AI Platform for AI operations

SeeDoo develops the Go-To Vision-AI Platform for AI operations, which addresses the significant data-variation challenges that prevent scaling with common-AI. The SaaS platform acts as an app store for AI operations by offering specialized foundation models for leading applications, such as drone delivery, inventory management, and other vital retail operations.
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Pilox.AI

Pilox.AI

Suicide Detection System and Smart Train Platforms

PILOX AI has developed a unique AI system that identifies distress signs in people at risk of suicide. The system analyzes security footage in real-time and provides early warning to on-site teams, allowing them to take preventive action and save lives.
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Deck
3D Me

3D Me

No Touch Controller That Enables Intuitive Touchless Interaction

NoTouch is a virtual controller that enables intuitive touchless interaction with content and applications using only body gestures, including hand gestures. NoTouch controller transforms any pair of standard processor and RGB camera into a powerful virtual controller, providing users with a seamless and engaging touch-free experience.
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HiveWare

HiveWare

Electronic Design Automation

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Neologic

Neologic

Quasi-CMOS Computing Technology

Neologic is a developer of IP-core and standard cells for high-performance efficient computing using quasi-CMOS technology. The company delivers high fan-in logic cells (6-32 inputs) that reduce circuit area and significantly reduce static power dissipation and circuit depth.
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Deck
Re-Fresh Global

Re-Fresh Global

Circular Textile Waste Management System

Provides circular economy solutions for the textile industry using innovative waste management technologies and raw materials made from textile waste.
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Deck
REGO 4x4

REGO 4x4

Versatile All-terrain Military Vehicle

Rego is the developer of a hybrid, all-terrain, 4x4 ground mobility vehicle (GMV) designed to help military forces move faster and with greater maneuverability and detection avoidance.
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Deck
Sky Parking

Sky Parking

Portable Parking Solution

Sky Parking offers a solution that enables elevated parking for up to four vehicles at once. The companys solution is easy to deploy and integrates with an app that can direct users to the nearest available parking space, save a parking space in advance, and provide fast payment methods.
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Deck
Curb Security

Curb Security

Security Sensor for Car Relay Attack – Detect, Alert and Prevent

Eliminates the risk of Relay-Attack theft with Active detection and notification of any relay-attack and Connects to smart home security systems.
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Deck
WatAirGy

WatAirGy

Generating Power from Air's Water Adsorption

A developer of a green energy technology that utilizes air's water adsorption capability to generate electricity for households. The system offers a sustainable and continuous power supply without relying on sunlight, which is a significant advantage over solar systems.
Book a Meeting
Deck
Equatic

Equatic

Carbon Dioxide Removal

Equatic accelerates and amplifies the ocean’s inherent ability to absorb and permanently store massive amounts of carbon. Simultaneously, Equatic produces carbon-negative hydrogen, a clean energy that can be used to eliminate carbon emissions from industrial processes and transportation, to create Sustainable Aviation Fuels (SAFs) and to power the Equatic process itself.
Book a Meeting
Deck
CoolVOC

CoolVOC

Abatement of Industrial Air & VOC

CoolVOC specializes in VOC abatement technology and industrial air purification solutions. Their core expertise lies in the development of advanced systems engineered to efficiently capture and recycle VOCs from industrial air streams.
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InTACT

InTACT

Preventing Friendly Fire

InTACT develops a device that attaches to a soldier’s rifle and prevents friendly fire incidents by alerting him when pointing at a friend. The system acts as another layer of safety as in combat the statistics show that 20-30% of the casualties are a result of friendly fire.
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Supree

Supree

Naturally Dried Fruits and Vegetables

Supree develops innovative fruit and vegetable varieties designed to be naturally dried, preserve a high content of vitamins and nutrients, ensuring great taste and extended shelf life. The company's first product is a semi-dried tomato that stands out for its delicious taste, high nutritional value and one-year frozen shelf life. antioxidants.
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Full Deal Flow  

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