JTA NEWS
23 January 2018 - 8 Shevat 5778 - ח' שבט ה' אלפים תשע"ח
JTA NEWS :
Business
Philippine education app represented at Start Jerusalem 2017 E-mail

An education technology startup based in Cagayan de Oro City in the Philippines, which provides a cloud-based grading platform to schools, won the Pitch Jerusalem competition and will represent the country in a global startup competition in Israel, “Start Jerusalem 2017”, from November 5 to 11.

Wela School Systems’ grading platform allows teachers to upload their existing class record spreadsheets and automatically generate the necessary reports and analytics needed by the school and the Department of Education (DepEd).

“With our platform, we have improved their efficiency and productivity from weeks to an average of two days,” John Vincent Fiel, Co-Founder of Wela School Systems, said in an interview. “Teachers will now have more time for their students and family. They don’t have to go overtime in school. They can access the platform anywhere.”

Apart from the cloud-based grading platform, Wela also provides radio-frequency identification (RFID) systems to schools.

“The student taps their RFID/ID to the kiosk/RFID device, and then our system will notify the parent whether their student/child went in/out of the school. The parent will be notified via our mobile app,” Fiel added.

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Fosun Group invests in Israeli fintech company BondIT E-mail

On 27 October, China-based Fosun Group announced a strategic investment of US$14.25 million in Israeli FinTech company, BondIT. This marks the Group’s first Fintech investment in the country. Upon completion of the transaction, Fosun will be a major shareholder of BondIT including representation on its Board of Directors.

Headquartered in Herzliya, BondIT provides an intelligent solution to fixed income traders and their portfolios. BondIT’s leading technological capabilities and global market network empowers investment managers to create and optimise bond portfolios with sophisticated yet easy-to-use automation tools powered by proprietary machine learning algorithms.

BondIT’s unique breakthrough lies in its ability to leverage data science and artificial intelligence (AI) learning to overcome the complexity and inefficiencies often experienced in fixed income products. Its intelligence enables investors to quantitatively optimise the risks and returns of their fixed income portfolios.

Guo Guangchang, Chairman of Fosun said: “Innovation is key to development, and crucial to the future of humanity. As such, we are embracing the opportunities arising from the latest technological breakthroughs in AI and Industrial 4.0. We believe BondIT complements the Group’s own financial ecosystem and as well as playing an important role in the upgrading of wealth management institutions with its disruptive technology. This investment also marks a continuation of our investment into the Israeli market, a market the Group remains optimistic on.”

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Israel-China Accelerator Program launched E-mail

Israel’s Ministry of Economy and Industry, in conjunction with ShengJing Group, China’s largest fund of funds manager and consulting firm, has teamed up to launch the very first China-Israel Accelerator Program in Beijing. Deadlines for the companies to participate are currently being finalised.

The programme aims to help five Israeli high-tech companies penetrate the China market. ShengJing Group is also expanding its involvement in the Israeli ecosystem and will provide tailor-made accelerating services to selected Israeli companies.

ShengJing Group, through its global investment division, Peakview Capital, has invested almost US$20 billion, including FoFs (fund of funds) and direct investments in China, the US and Israel.

In Israel, ShengJing has already invested nearly US$100 million in recent years, including investments in leading Israeli VC and Private Equity funds such as JVP, Vintage, Viola and Canaan Partners. The firm has also made direct investments into Israeli startups, the winners of its Global Innovation Awards Competition (GIA), for which the Israeli segment was led in 2015 and 2016 by JVP.

“The next step for us to further engage with the Israeli ecosystem is naturally the opening of the Israel-China Accelerator Program. We are proud to partner with the Israel Ministry of Economy and Industry in this initiative, said Sherrie Wang, Senior Partner at ShengJing Group.

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OurCrowd makes first investment into China E-mail

Israeli venture capital platform OurCrowd has made its first Chinese investment, participating in the nearly- US$60-million financing round of the Chinese in-destination service booking platform company Klook. The Series C financing was led by Sequoia China, Goldman Sachs and existing investor Matrix Partners.
OurCrowd Managing Partner Asia and head of Our- Crowd’s Singapore management company Denes Ban said: “The investment further solidifies Israel’s pivot towards Asia, and in such an exciting sector. ln-destination travel services is the segment with the largest business potential in online tourism. OurCrowd is pleased to co-invest alongside top VCs, and this represents a unique investment opportunity for our high-net-worth investors in Asia and beyond. We plan to leverage our unparalleled access to Israeli frontier tech such as artificial intelligence to help Klook in its further development of travel tech.”

Jerusalem-based OurCrowd manages over US$450 million in assets from family offices and high-net-worth individuals from over 100 countries. Managed by a team of investment professionals based in Israel and led by serial entrepreneur Jon Medved, OurCrowd vets and selects opportunities, invests its own capital and brings companies to its accredited membership of global investors.Please login or register to see the full article
 
Israel-Japan VC fund invests in joy and wellness E-mail

A Herzliya-based company Joy Ventures is looking to create an ecosystem for neurowellness products. The US$50 million joint Israeli-Japanese VC fund hopes to find ways to help people calm down easily, using their much-loved smartphones or other digital devices.

“The modern Western population suffers from a lot of stress, even if there is prosperity and a high quality of life,” said Avi Yaron, the CEO of Joy Ventures. “Unfortunately, this high quality of life does not necessarily translate into wellbeing, and Joy Ventures caters to this niche.”

Joy seeks to help individuals with neuro-wellness products by enhancing their resilience, he said. “People don’t necessarily look after themselves, they don’t sleep enough, and they don’t eat the most healthy foods. You can’t really stop or change their way of life. We want to help, not with medicines, but with neuro-wellness,” said Yaron. “Joy Ventures wants to allow people to support that change in an easy and fun way, using the advanced knowledge of brain sciences to lower stress, improve moods and raise the feeling of wellbeing.”

Joy Ventures is a privately funded investment company founded by Corundum Open Innovation, a VC fund that invests in Israeli tech companies. The fund is backed by Japanese corporations and has offices in Israel and Japan. “Our investors were looking to focus on both the brain and consumer products — so we decided we needed to create a new framework — something completely different that allows us to foster these kind of companies, but also build a whole new ecosystem in Israel, because the field is so new,” said Gilad Peleg-Lorberbaum, the managing partner for Corundum.

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