The declines in the biomed companies traded on the capital market led to greater caution also in the venture capital funds that cannot currently build on exits through the capital market to realize their investments, and certainly not early stage companies. Still, the funds that managed to raise capital before the crisis are full of cash, and they know that now is the time to seize the opportunities that may materialize when the positive sentiment returns to the market.
In the coming period, we will probably witness recruitments that become more selective, smaller in scope and with lower volatility, but at least for now, the recruitments are not stopping.
Dot Compliance, which developed a system designed to help companies comply with various regulations, announced last week the raising of 23 million dollars. The fundraising was led by the Israel Growth Partners fund, with the participation of existing investors Worts Ventures and TPY Capital. Together with this round, the company has raised about 33 million dollars to date. This recruitment demonstrates the type of companies that will be easier to recruit during this period, companies that are already in the market and can finance themselves from their revenues if there are no other sources for a period of time. The company stated that it has 200 customers in 15 countries.
The market for dedicated smart software for regulatory management is a relatively new market. The company, established in 2015, provides solutions based on the Salesforce platform, and shortens processes in bringing new products to the market.
“Dot Compliance shook up a slow-moving field and created a new standard of easy-to-implement solutions,” said Doron Sitbon, the company’s founder and CEO. in regulation”.
“Innovative solutions for quality and regulatory compliance have become a central pillar in the activities of life sciences companies,” said Yoni Levy, a partner at Israel Growth Partners. “Dot Compliance established its position as a market leader and technology leader and quickly expanded its circle of customers.”
10 million dollars for sexual function
Verity Medical, which developed a new treatment to prevent premature ejaculation, announced the raising of 10 million dollars from the insurance company Migdal (8 million dollars) and the Arkin Group (2 million). The company hopes to complete a fundraising of 40 million dollars. The company’s product is based on a sticker that produces an electric glow. Among the company’s existing investors is the Almada Stock Exchange Partnership, which owns about 5.6%. The company established in the NGT incubator.
The product recently received FDA approval for marketing in the US and has CE approval for marketing in Europe. The company began marketing it directly to the consumer, and later it intends to sell it in chains such as Walmart, CVS, Boots, etc.
Premature ejaculation is the most common disorder in the male sexual function. Its prevalence is estimated at about 25% of men (the numbers depend on the subjective definition of ‘early’). The scope of the global medical market for the treatment of premature ejaculation is currently estimated at approximately 2.9 billion dollars.
According to David Salton, CEO of Virility Medical, “the closing of the investment quickly and in the current market conditions, which are characterized by great uncertainty, shows the business potential inherent in Virility”