JTA NEWS
20 June 2018 - 7 Tammuz 5778 - ז' תמוז ה' אלפים תשע"ח
JTA NEWS :
Business
Enlivex receives more funding from South Korean investment fund KIP E-mail

Israel-based Enlivex Therapeutics Ltd, a clinical-stage immunotherapy company that is developing a treatment for Graft-versus-Host disease (GvHD) resulting from bonemarrow transplants, signed a Memorandum of Understanding (MoU) in April for a US$10 million investment led by South Korean investment fund KIP.

KIP led an US$8 million financing round in Enlivex in September 2017. According to the MoU, KIP will invest US$2 million, Hadasit Bio-Holdings will invest US$1.2 million, and the two concerns will help recruit additional investors for Enlivex.

Enlivex’s product has not yet undergone Phase III clinical trials. In a statement released during the company’s September 2017 financing round, the company said it expected that the product would enter such trials within a year.

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Singapore VC firm invests in Israeli foodtech company E-mail

Singapore-based venture capital firm Sirius Venture Capital has backed an US$8-million Series A funding round in Israeli foodtech firm Genie Enterprise, which has invented an automated, computer controlled cooking device.

The funds will provide Genie Enterprise with additional resources to bolster its infrastructure in Israel, and will boost its R&D activities and enable it to expand to new geographies. “This investment will serve as a gateway for us to access Sirius’ well-established network in the broader Asian market, as we navigate new business cultures and culinary preferences within the region,” said Doran Marco, Founder and Chief Technology Officer of Genie Enterprise.

The company’s computer controlled cooking device, called Genie, is capable of producing affordable, tasty and preservative-free dishes from pre-sealed pods within minutes, the startup said. The device uses proprietary technology and algorithms to cook freeze-dried and dry ingredients in a patented cooking system. Ingredients of restaurant-quality meals are contained in pre-sealed pods with unique barcodes.

Genie is currently available in Israel and Australia. “With this round of financing, Sirius is the only venture capital firm in Asia to join a group of co-investors in reinventing traditional food preparation practices in the home and cooking sector using smart kitchen systems,” said Eugene Wong, Founder and Managing Director at Sirius.

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IAI to develop electric-powered aircraft E-mail

Israel Aerospace Industries Ltd announced on 20 March that it will be developing electrically powered aircraft. The company says the new aircraft will provide green energy solutions for environmental benefits, will have longer ranges and endurance, and will offer significant savings on fuel costs.

The demand for electrically powered aircraft is projected to reach hundreds of aircraft per year within the next decade. Increased use of electric propulsion should save hundreds of millions of dollars in fuel and maintenance costs. Environmental benefits include a significant reduction in air pollution and noise levels. While today’s electrical power is limited mainly to very light aircraft, IAI estimates that as the technology continues to mature, the market will diversify to short-range passenger airplanes and other configurations.

IAI has many years of experience in electric power systems for unmanned aerial vehicles, including the Panther and Mini Panther UAVs, vertical-takeoffand-landing Unmanned Airborne Vehicles, and the Bird Eye 650 reconnaissance vehicle.

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SGX among bidders for stake in Tel Aviv bourse E-mail

According to a report in the Singapore Straits Times last month, the Singapore Exchange (SGX) is a contender for a controlling stake in the Tel Aviv Stock Exchange (TASE).

More than 10 foreign stock exchanges have signed nondisclosure agreements and expressed their interest in buying into the Israeli exchange. Israeli media said these included bourses in London, Toronto, Hong Kong, Singapore, Australia and Warsaw.

TASE said in January that it was in the process of finding a strategic investor, with shareholders putting a 71.7% stake, valued at around US$147 million (S$195 million), up for sale. TASE has said it expects to draw interest from the world’s leading stock exchanges, “which will significantly strengthen the Israeli stock exchange’s competitive position globally and will lead to the creation of international collaborations and attract overseas investors”.

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GoforIsrael annual business conference E-mail

The 18th GoforIsrael annual business conference took place in March at the Tel Aviv Hilton hotel. Organised by Cukierman & Co. Investment House Ltd. and Catalyst Funds, GoforIsrael is one of the most influential business conferences in Israel, attracting about 1,000 venture capitalists, PE Funds, key decision-makers, business representatives, leading entrepreneurs and other investors from Israel, China, the US and Europe.

The Chairman of this year’s conference was Ronnie Chan, Chairman of Hang Lung Properties, one of China’s biggest real-estate firms, and Co-Founder of Morningside, his family’s philanthropic foundation. He was one of the key speakers at the conference.

At the two-day event, many Israeli hi-tech companies showcased their latest innovations in areas such as information technology, life sciences and healthcare, cyber security, energy and advanced manufacturing. They hoped to attract Chinese investors who want to profit from the growing demand for high technologies and innovations in China, the fastest-growing economy in the world.

Edouard Cukierman, Chairman of Cukierman Investment House and Managing Partner of Catalyst CEL China Israel Fund, said: “The conference is a great opportunity to meet the leading Israeli entrepreneurs and investors in one place. Israeli technology companies will benefit from pre-organised meetings with potential investors, and the opportunity to present their technologies on stage. We expect to have continuous 1:1 meetings between investors and entrepreneurs during and following the conference.”

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