Indegy named Israel B2B startup to watch

Cybersecurity company that raised $18m tops CB Insights ranking of early-stage Israeli business software firms

Shoshanna Solomon is The Times of Israel's Startups and Business reporter

Indegy's technology (YouTube screenshot)
Indegy's technology (YouTube screenshot)

Israeli cybersecurity company Indegy tops a ranking made by New York data company CB Insights of Israeli early-stage business-to-business software companies to watch.

Based in Tel Aviv, Indegy has developed software that provides real-time monitoring of control systems that are used in critical infrastructures, like energy and water utilities and manufacturing facilities, helping protect against cyber-attacks, malicious insiders and operational mistakes.

The startup has raised about $18 million to date, making it the most well-funded company on CB Insight’s list. The ranking looked at Israeli business-to-business companies that have raised funding since January 2016, but have not yet raised Series B rounds.

CB Insights used one of its scoring tools for the ranking, utilizing public data and predictive algorithms to measure the health and growth potential of private companies. The tool helped identify what CB Insights sees as the “11 early-stage companies in the seed and Series A stage with traction.”

Auto tech companies in spotlight as well

The ranking includes three cybersecurity companies and companies in auto tech, ag tech and business analytics, along with one company that offers restaurant technology software.

Auto tech companies Oryx Vision and Otonomo, which have raised disclosed funding of $17 million and $15 million respectively, follow Indegy in the ranking.

Oryx has developed a high resolution, optical radar for autonomous vehicles based on a new depth-sensing technology which it says can sense objects at distances as far as 150 meters away. Otonomo offers cloud based Software as a service (SaaS) solution for the ecosystem of connected cars.

Prospera's technology helps keep tabs on crops (Courtesy)
Prospera’s technology helps keep tabs on crops (Courtesy)

Other companies mentioned in the ranking are big-data company Alooma, which has raised $15 million to date, Aqua Security and IntSights, two cybersecurity firms that have raised $13 million and $9 million respectively; Propsera, an agriculture technology firm; business intelligence and analytics firm Oribi, Revuze, an artificial intelligence firm; restaurant technology firm SimpleOrder and Kwik, a maker of industrial IoT Software.

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