IzBiz: The Israeli sensor technology that can peek through chests — and walls

A fortnightly round-up of the latest from Israel's booming business sector


Compiled by
Jeremy Seeff

The Israeli sensor technology that can peek through walls

A Tel Aviv company that develops sensors that can see through walls and track objects through them in real-time has raised £84 million in funding.

Vayyar Imaging will use the funds to develop its 4D radar imaging sensor technology and expand in the US and Japan.

Founded by Raviv Melamed, who is also the company’s chief executive and chairman, Vayyar’s sensors will be useful to a range of industries including car builders, smart homes, robitics — and even hospitals, where the technology could detect early tumours.

The sensors do not collect any optic data, protecting users’ privacy at all times, and are able to function in allenvironmental conditions.

Multi-million valuation for pharma giant

Shares in Kamada, a biotech company listed in Tel Aviv and on the Nasdaq, have been bought by FIMI Opportunity, one of Israel’s leading private equity funds.

It is now valued at £187 million as a result of the sale.

Around 12 per cent of shares were purchased from Brosh Capital Partners, Leon Recanati, and Jonathan Hahn for £23 million, making FIMI the largest shareholder in the company.

Kamada specialises in developing proteins as pharmaceuticals.

The company’s headquarters and laboratories are located in Rehovot’s Weizmann Institute of Science.

Cash is splashed for IT outage experts

BigPanda, whose platform helps businesses detect and resolve IT outages, has raised £38 million by way of a series C funding round led by venture capital firms including Sequoia Capital and Battery Ventures.

The funds bring BigPanda’s total funding to more than £93 million. The company’s customers include Intel, Warner Media and Workday.

BigPanda says it plans to expand its research and development operations in Israel, which  currently employ 40 people, by recruiting an additional 30 employees in the coming year.

Deal to supply gas from the Mediterranean to northern power plant

British-Greek oil and gas company Energean is to supply £175 million worth of natural gas to the Alon Tavor power plant in northern Israel for the next 15 years.

The firm, which one of the owners Israel’s offshore Karish and Tanin natural gas reserves, will supply 0.5 billion cubic metres.

The plant itself was sold in July to a group that includes China Harbour Engineering for 1.87 billion shekels (£418 million).

IzBiz is compiled every fortnight for the JC by Jeremy Seeff, partner at ERM, a cross-border law firm based in Tel Aviv for corporate, finance and real estate matters. Read previous editions of IzBiz here.

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