Ben Gurion once said: “In Israel, in order to be a realist you must believe in miracles”. Boy was he right. Ehud Olmert’s entanglement in what seems to be a deep bribery case, is the sixth investigation opened against Israel’s prime minister since 2006. Opponents of the Kadima party are demanding Olmert’s resignation, which might result in early elections for Israel, perhaps this summer. How will it impact the economical growth of Israel in its 60th year? It’s too early to tell.
Meanwhile, venture capital investments in Israel continue to be announced almost on a daily basis. Here are the latest headlines you don’t want to miss:
- eglue Raises 12 Million Dollars in Recent Financing Round
How many high tech companies do you know are based in a kibbutz? CRM software developer eglue Software has raised $12 million in an internal financing round. Competing withSAP, eglue has developed the InterAct real-time CIM suite, which enables service provides to improve the efficiency of communications via all channels – telephone, sales points, and online. Since inception in 2001, the company has raised $22 million from Cedar Fund, Evergreen Venture Partners, and Giza Venture Capital as well as a credit line from Plenus Venture Lending and private investments. The company is led by CEO Dror Pockard (listen to an interview with Dror) and has a headcount of 85. See official press release here.
- Israeli anti bacterial manufacturer Sure raises $5 million
Wanaka Capital Partners and C. Mer Industries invested $5 million in anti-bacterial material developer Sure International. The Israel-based company products develops anti-fungal materials that can be integrated into plastics, preventing the reproduction of bacteria and fungi spores. Wanaka is a new mid-tech venture capital fund in Israel, that invests in companies that are a) low tech, b) in low cost R&D phase (less than $5m) c) defendable IP in a proven business model.
- Multimatrix gets US fund investment commitment
Holding and investment company Multimatrix has obtained an investment commitment of up to $6 million from US investment fund Yorkville Advisors LLC under a standby equity distribution agreement (SEDA). Headquartered in Ramat Gan, Israel, Multimatrix invests in various sectors, primarily real estate in Europe.
- Celtro raises $20 million for cellular backhaul solutions
Israeli company Celtro raised a third round of $20 million led by US-based fund Roh Capital, and joined by the Celtro’s previous investors including, Genesis Partners, Cedar Fund, Momentum Management, Kreos Capital, and ECI Telecom Ltd. Founded in 2001, Celtro was spun-off from ECI in 2003. Celtro makes the DynaMate cellular backhaul switching solutions that improve service delivery and increase network efficiency for mobile operators. In short, the company can triple the traffic that a network can handle. The company posted $21 million in revenue in 2007 and CEO Ron Zor says it is close to becoming profitable. More on Globes.
- First Israel Mezzanine Investors Fund to Invest $23.5 Million in Ophir Optronics
Ophir Optronics, maker of IR optics components and laser measurement equipment, is getting a cash injection. First Israel Mezzanine Investors Fund (FIMI) is investing $23.5 million in Ophir Optronics Ltd. (TASE:OPIR). FIMI is buying five million shares at $4.71 per share, amounting to 20 percent of the company.