Israeli startup NanoLock, which develops an OT and IoT device-level protection and management platform, closed an $11 million Series B funding round. The round saw participation from current investor AWZ Ventures, and new ones including: OurCrowd, HIVE2040 (by Avnon Group), and Atlantica Group.
NanoLock develops a security solution for billions of IoT end devices. The startup’s technology provides secured and managed firmware updates, reliable status and alerts, and unique forensic data—all with a lightweight, zero power, processing and memory footprint.
“Our solution addresses an urgent need,” said Eran Fine, the CEO and Co-Founder of NanoLock. “As we’ve seen with SolarWinds, SITA, and the Colonial Pipeline breach, insider and supply chain attacks on utilities and critical infrastructures are escalating rapidly. Nothing will stop hackers from continuing to try to breach these networks, but our Zero Trust, device-level solution will stop them from succeeding.”
Porsche revs up investment in Griiip
German sports car giant, Porsche, announced an investment in Israeli startup Griiip -- which develops a data platform; creating and analyzing data directly from the race car. Both companies have yet to reveal a number for the investment.
The Israeli startup also deploys a cloud-based racing media platform called RAMP (Racing Media Platform), which collects and analyzes data in real time by pulling raw data straight from the vehicle’s RedBox. To create new data-backed features, the raw data is analyzed and visualized on Griiip’s cloud platform, even offering E-Sports connectivity.
Griiip was founded in 2015 by Tamir Plachinsky and Gil Zakay in Petah Tikva, Israel. “We are delighted to have Porsche, one of the most iconic sports car brands in the world, joining Griiip as a strategic investor, sharing our vision of a new digital universe for the racing and sport driving ecosystem” says CEO Tamir Plachinsky. “We are confident that our innovative data platform, RAMP, will connect motorsport racing fans, teams, drivers and Esports gamers together like never before.”
Medorion’s insurance analysis tool nabs $6M
Israeli startup Medorion develops behavioral intelligence SaaS solutions for health insurers. Just recently, the company secured $6 million in funding from 10D. Existing investors iAngels and TAU Ventures also participated in the round.
Medorion has developed an AI-powered analysis tool, which analyzes claims and social determinants of health (SDOH) data to accurately pinpoint the underlying psychological, environmental, and economic drivers and barriers behind people's health decisions. The system helps insurers better understand their customers’ health decisions, improve engagement, and facilitate proactive interactions that improve health delivery and financial outcomes.
“We will use these funds to grow our impact on the U.S. market, hire aggressively and boost the adoption of our behavioral intelligence SaaS platform among additional leading U.S. insurers. We also plan to accelerate the development of our new risk adjustment and member experience solutions, as well as expand our platform’s utilization beyond Medicare Advantage plans into other government markets,” said Asaf Kleinbort, co-founder and CEO of Medorion. “By empowering payors with comprehensive automated tools that facilitate qualitative and personalized communications at scale, health plans can improve the member experience and willingness to embrace care and treatment, leading to enhanced healthcare delivery and better financial outcomes.”
Israeli startup Wisesight raises $4M on its way to a “world without tickets”
Wisesight, an Israeli startup developing a smart city management product attempting to tackle the parking problem in cities around the world, raises $4 million in Series A funding. The round was led by private investors. The company’s technology creates a map of all parked cars on the street and in the lots, and verifies if a parking payment app has been activated.
If the car owner hasn’t paid for parking, and they’re connected to a payment app, they are sent an SMS text message with a reminder to activate their payment, and themselves from a costly ticket. Additionally, the company’s system identifies and analyzes congested traffic around the city, parking availability, accident alerts, and optimizes urban parking. The startup states that it aspires to turn Israel into a global leader in parking efficiency, attempting to reduce the number of tickets per capita.
