At least 4 Israeli startups emerged from stealth mode in June by announcing significant funding rounds. At Start-Up Nation Central, we define stealth mode companies as business entities officially registered at the Israel Corporations Authority but lack a website with any information publicly visible. Sometimes the stealth mode company’s founders won’t list the company on their LinkedIn profile –they prefer to stay “under the radar”. This usually happens because the technology they’re working on may need more testing and development, the founders may want to raise more money, their potential consumer base needs to be adequately understood and marketed –what’s called a product-market fit– or the company may be preparing for a big launch event to capture the public’s attention –emerging out of anonymity with a bang.
In June, some very serious tech companies unveiled their products to the market.
Panorays, a cyber security automation company, emerged from the stealth and announced a $5M Seed round led by Aleph VC. With Panorays, companies can shorten their third-party security evaluation process from 6 months to just 72 hours, while gaining continuous visibility and compliance to regulations such as GDPR. Panorays was co-founded by experienced technology industry executives from companies such as Imperva, AVG, ironSource, Windward, WalkMe and enSilo. Some were also former members elite Israeli Air Force technology units.
Developer of deep learning chips for the car industry, autotech company Hailo Technologies emerged from the stealth and announced $12M in a Round A. The round was led by Maniv Mobility with participation from OurCrowd, Next Gear Ventures, and a number of angel investors, including Hailo’s own chairman Zohar Zisapel and Chief Executive Officer at Delek Motors, Gil Agmon. Hailo Technologies was founded by by two grads from the Israel Defense Forces secretive military intelligence Unit 81 (supplies the newest technology to Israeli combat soldiers).
Ride Vision, which makes computer vision technology for motorcycles, emerged from stealth and raised a $2.5M Seed round led by YL Ventures. Ride Vision develops an automated driver assistance system (ADAS) for motorbikes.
Fintech startup Obligo, a developer of billing authorization software allowing landlords to bill tenants for damages, emerged from stealth mode and announced the completion of a $5M Seed financing round. The round was led by Israel-based venture capital firm 83 North, with participation by Entrée Capital, HFZ Capital, and Viola Credit.
Start-Up Nation Finder, the innovation discovery platform for the Israeli tech ecosystem, is tracking some 450 stealth mode companies, so keep an eye on Start-Up Nation Central’s channel on Forbes for more regular news on exciting Israeli startups.