Elron Ventures Ltd.

elronventures.com

Formerly Elron Electronic Industries

Investment Company
Public Company

(TASE: ELRN)

Tech Verticals Preferences

Deep Tech, Defense Tech, Cyber Security, SaaS, Healthcare IT Artificial Intelligence, Broadband, Broadcasting, Medical Devices, MedTech, Military, Mobile Applications, Mobile infrastructure, Optical Networking, Security, Telecom Applications, Wireless Applications, Wireless Infrastructure

General Data

Established	1961
Current Active Portfolio Companies:	16
Reg. Number:	abCDe

DESCRIPTION

Elron Ventures' focus is in early-growth investing, where it leverages its expertise across an array of different industries and key strategic partnerships to provide capital and assistance to promising Israeli tech start-ups helping them achieve their goal of becoming true global leaders.

Elron's group of companies includes companies at various stages of development that are engaged in a variety of technology fields, mainly , cybersecurity, SaaS, deep- tech, defense- tech and healthcare industries.

Elron's holdings include a 50% stake in Rafael Development Corporation (RDC), a joint venture with Rafael Advanced Defense Systems, a leading global defense company. This partnership offers founders the unique opportunity to develop and test their technologies alongside top IT and cyber professionals.

AFFILIATION

Account ID	Affiliation Type	Name	Parent Name	Status
B37DE34A-207A-E111-AC59-00155D32A403		Elron Ventures Ltd.
97547D84-39A2-ED11-B811-00505695CD29	Investment Arm	CyberFuture	Elron Ventures Ltd.
F1CE5FF0-1F7A-E111-AC59-00155D32A403	Subsidiary	Elron Software Inc.	Elron Ventures Ltd.	Acquired/Merged

SERVICE PROVIDERS

Company Name	Type
abC Defghij	Law Firm
abC Defghij	Law Firm

REMARKS

Date	Remark
01/11/2011	Elron has secured a $30m credit facility from Silicon Valley Bank (SVB).

CONTACT INFO

Expand / Collapse All

Main Address: Tel Aviv, Israel

Address	114 Yigal Alon St., ToHa Tower, 22nd floor
City	Tel Aviv
Country	Israel
Zip	6744320

Contact Person	abC Defghij
Contact E-Mail	abC Defghij
Company E-mail	abC Defghij
Telephone	abC Defghij
Fax	abC Defghij

	MANAGEMENT

Key Executive

Name	Title	Previous Position
Mr. Yaniv Shnieder	CEO	RDC (CTO)
Ms. Lauren Duke	VP, Business Development
Ms. Maya Rubinstein-Reitman	Head of Marketing
Ms. Rony Sharon-Gur-Arie	CFO
Mr. Uria Lin	Principal
Mr. Kobi Jacob Katz	Venture Partner	RAFAEL (Head of AI Strategic Vector)
Mr. Yair Pecht	Entrepreneur-in-Residence	NSO Group (CEO)
Ms. Lisya Bahar-Manoah	Chairperson	Catalyst (Senior Partner, Catalyst IV)

Mergers & Acquisitions

Round

Date

Stage

Amount

Valuation

Acquired

Jul. 21, 2024

abCDe

Public Offerings

Deal Date	Type of Offering	Exchange	Amount Raise	Valuation	Remarks
Jun. 06, 2019	Second Public Offering	TASE	abCDe	abCDe	Raised NIS 76.6m
Jan. 07, 2010	Listing	OTC Pink	abCDe	abCDe	08/2017: Delisted from OTC.
Mar. 19, 1982	Listing	NASDAQ GS	abCDe	abCDe	Delisted in 07/01/2010.
Jun. 01, 1975	IPO	TASE	abCDe	abCDe

	FINANCIAL ROUNDS

Expand / Collapse All

Round

Date

Stage

Amount

Valuation

Venture Lending

Nov. 11, 2011

abCDe

Investment in Fund

Jan. 01, 1962

abCDe

* New investor

Investor	Type	Amount	Remarks
abC Defghij	Holding Company	abCDe	Held 59% of the company. 07/2024: Sold all holdings to Arieli Capital for 53.2m.
abC Defghij	N/A	abCDe

Investment Data

Managed Capital	abCDe

Preferences

Type of Financing	Equity
Stage Preferences	Initial Revenues,R&D,Revenue Growth,Seed

SECTOR SEGMENTATION (By Number Of Companies)

Enterprise Software & Infrastructure

45%

Medical Devices

31%

Network Infrastructure

Hardware & Industrial

Cleantech

Energy

	PORTFOLIO COMPANIES

Current Portfolio Companies (16)

Company Name

Sector

Round/Deal Type

Date Announced

Investor Amount

Total Deal Amount

Remarks

Addionics

Energy

Third Round

30/12/2025

$3.5m

Atlantium Technologies

Atlantium leverages their technology to tailor superior HOD™ (Hydro-Optic Disinfection) UV water treatment solutions for industries and municipalities. Their solutions are designed to consistently perform to your changing needs.

Cln.

Fourth Round	13/02/2013	N/A	$9m
Third Round	01/06/2008	$3.6m	$11m
Second Round	19/10/2006	$10m	$17m

AudioBurst

Ent. SW

Second Round	23/04/2019	N/A	$10.7m
First Round - Extended	27/03/2018	N/A	$4.6m
First Round	05/06/2017	N/A	$6.7m

Bark AI

Ent. SW

First Round	06/08/2024	$0.25m	N/A
Seed	01/07/2022	$0.95m	$0.95m

BrainsGate

Sixth Round	06/12/2020	$2m	$14m
Fifth Round	25/01/2015	$8m	$26m
Fourth Round	11/08/2011	$7.1m	$20m
Third Round	13/08/2008	$6.55m	$27.5m
Second Round - Extended	11/08/2005	N/A	$7m

coramaze technologies GmbH

First Round

01/09/2015

N/A

$5.1m

CyberRidge

HW & Indust.

Secondary Deal	01/08/2025	$0.25m	$0.5m
First Round	01/04/2025	$1m	$16m

CyVers.ai

Ent. SW

Seed - Extended	01/06/2025	$0.3m	$0.5m
Seed	01/05/2022	$4.2m	$8m

Edge226

Ent. SW

First Round	01/08/2018	$0.5m	$0.5m
Second Round	04/09/2015	N/A	$2m
First Round	03/07/2008	N/A	$6m

NitiNotes

Second Round - Extended	30/12/2024	N/A	$9.3m
Second Round	28/09/2023	N/A	$10.1m
First Round - Extended	10/05/2020	N/A	$7.1m
First Round - Extended	16/03/2018	N/A	$2.6m
First Round	01/09/2016	$3.1m	$4.13m

Notal Vision

Fourth Round	01/06/2021	$6m	$60m
Third Round	01/10/2010	$5m	$22m
Second Round	01/06/2005	$2m	$5m
First Round	27/01/2003	$2m	$4m

Raven

Ent. SW

Seed - Extended

02/03/2026

$1.75m

$3.7m

RDC

RDC – Rafael Development Corporation is a unique company, blending seemingly contradictory disciplines into viable commercial products. Its core business is the identification and development of potentially valuable commercial technologies based on hi-tech defense technologies developed within Rafael Advanced Defense Systems enhanced with the financial capabilities of Elron Electronic Industries.

RDC is an incubator, a business development and a holding company, all in one. Since established in 1993, it has leveraged the strong partnership of both Elron and Rafael to found numerous hi-tech companies in a wide range of disciplines - from medical devices to telecommunications and semiconductors, and many others.

With its unique strategy and highly experienced management, RDC primarily identifies existing market needs, defines the technological concept of the solution, creates a valid business plan and finally establishes a new company which will develop the product or application.

N/A

Bridge	10/03/2021	$8m	$16m
Investment in Fund	30/12/2007	$4m	N/A
Investment in Fund	01/01/1993	N/A	N/A	(50.1%) through DEP

SinuSafe

Seed

01/12/2015

N/A

$0.3m

ZenGo

Ent. SW

First Round	27/04/2021	N/A	$20m
Seed	03/10/2018	N/A	$4m

ZeroPort

Ent. SW

Seed - Extended

15/01/2026

N/A

$3m

Current VC Fund Portfolio (2)

Fund Name

Fund Type

Date Announced

Amount

Remarks

Gemini IV

Venture Capital Fund

01/01/2004

N/A

Innomed Ventures

Venture Capital Fund

01/10/1999

N/A

Exits (59)

Company Name		Exit Type	Date Announced	Amount	Remarks
abC Defghij		Acquired	02/06/2009	abCDe
abC Defghij		Acquired	31/01/2021	abCDe
abC Defghij		Acquired	02/08/2021	abCDe
abC Defghij		Acquired	10/02/2006	abCDe	In shares.
abC Defghij		Acquired	20/03/2012	abCDe
abC Defghij		Acquired	15/02/2023	abCDe
abC Defghij		Acquired	22/11/2023	abCDe
abC Defghij		Holdings Sold		abCDe
abC Defghij		Acquired	10/11/2009	abCDe	Stock swap.
abC Defghij		Acquired	14/11/2024	abCDe	In cash.
abC Defghij		Acquired	26/07/2025	abCDe	The total value of the acquisition could grow to $250m, contingent on Cynerio achieving specific milestones. As part of the acquisition deal, RDC received 0.6% of Axonius' shares.
abC Defghij (Holding Company)		Holdings Sold		abCDe
abC Defghij		Holdings Sold		abCDe
abC Defghij		Acquired	02/09/2003	abCDe
abC Defghij		Acquired	21/12/2005	abCDe	Additional $0.4m if milestones are achieved during 2006.
abC Defghij		Acquired	22/08/2005	abCDe
abC Defghij		IPO	20/09/1984	abCDe
abC Defghij		Acquired	16/04/2024	abCDe
abC Defghij		Acquired	25/04/2018	abCDe	Pursuant to the acquisition, EVS merged with a wholly-owned subsidiary of Uster (Belinor). It has ceased to be a standalone public company and is now a direct wholly-owned subsidiary of Uster.
abC Defghij		IPO	17/07/1996	abCDe	11/2003: the company's securities were delisted from the Nasdaq SmallCap Market.
abC Defghij		Acquired	01/06/1994	abCDe
abC Defghij		Acquired	01/06/1996	abCDe	Acquired from Elbit
abC Defghij		IPO	01/06/1983	abCDe
abC Defghij		Holdings Sold		abCDe
abC Defghij		Acquired	07/12/2013	abCDe	In cash. Later on, Covidien has been acquired by Medtronic.
abC Defghij		IPO	04/10/2001	abCDe
abC Defghij		Acquired	01/06/2000	abCDe	Cash and Shares deal.
abC Defghij		Acquired	06/06/2004	abCDe
abC Defghij		Holdings Sold	20/11/2024	abCDe
abC Defghij	$Jordan Valley Semiconductors (JVS) is the leader in X-ray metrology and defect detection tools for the semiconductor industry. Jordan Valley's tools are fully automated non-contacting and non-destructive tools designed for production control on patterned or blanket wafers. The company offers the semiconductor industry the most comprehensive portfolio of advanced metrology and defect inspection tools, based on X-ray technologies such as XRR (X-ray reflectometry), XRF (X-ray fluorescence), XRD (X-ray diffraction) and others. Jordan Valley's investors include Clal Industries and Investments Ltd. (TASE:CII), Intel Capital (INTC) and Elron Electronics Industries Ltd. (ELRN.TA). With headquarters in Migdal Haemek, Israel, the company has subsidiaries in Durham UK, Austin TX USA, Hsin-Chu Taiwan, Suwon Korea and other offices and sales representatives worldwide.$	Acquired	06/10/2015	abCDe
abC Defghij		Acquired	01/04/2004	abCDe
abC Defghij		Holdings Sold	01/03/2011	abCDe
abC Defghij		Acquired	16/09/2015	abCDe
abC Defghij		Holdings Sold		abCDe
abC Defghij		Acquired	21/12/2003	abCDe	June 2005: acquired from Telrad by CallUp Net for $0.1m
abC Defghij		Acquired	13/04/2010	abCDe	Including $19m in milestone payments. Medingo will become part of Roche Diabetes Care.
abC Defghij (Telecom & Media)		Holdings Sold		abCDe
abC Defghij		Acquired	19/09/2002	abCDe
abC Defghij		Acquired	01/11/1996	abCDe	In cash
abC Defghij		IPO	01/08/1984	abCDe
abC Defghij		Merged	17/08/1992	abCDe	The merged company is called Orbotech
abC Defghij		Holdings Sold		abCDe
abC Defghij		Acquired	09/05/2005	abCDe	In cash and stock.
abC Defghij (Telecom & Media)		Holdings Sold		abCDe
abC Defghij (Telecom & Media)		Holdings Sold	31/12/2006	abCDe
abC Defghij		Merged	13/11/2003	abCDe
abC Defghij		Holdings Sold		abCDe
abC Defghij (Investment Company)		Holdings Sold	01/07/2013	abCDe
abC Defghij		Acquired	23/09/2011	abCDe	$1.1m in cash. SuperCom Buys Safend from Bankrupt Wave Systems to Bolster Cybersecurity Business
abC Defghij		Acquired	03/03/2016	abCDe	SuperCom acquired Safend from bankrupt Wave Systems.
abC Defghij		Acquired	02/09/2025	abCDe	In cash and stock. Penn-America Underwriters is part of Global Indemnity Group LLC (GBLI).
abC Defghij		Acquired	24/09/2009	abCDe
abC Defghij		Merged	08/02/1999	abCDe	Formed Servicesoft Technologies Inc.; in 12/2000 Servicesoft was acquired by Broadbase Software (now KANA) for $645m.
abC Defghij		Acquired	06/10/2011	abCDe	Acquired Starling's civilian technology.
abC Defghij		IPO	13/06/2007	abCDe
abC Defghij		Acquired	15/04/2010	abCDe	$10m in cash, $10m in promissory notes and $30m worth of stock.
abC Defghij		Acquired	02/11/2011	abCDe	In cash.
abC Defghij		Holdings Sold		abCDe
abC Defghij		Holdings Sold		abCDe

Historic Portfolio (23)

Company Name

Sector

Round/Deal Type

Date Announced

Investor Amount

Total Deal Amount

Remarks

24/7 Real Media

Written Off

N/A

PIPE

19/09/2002

$1.25m

Elron wrote off its investment in the company

Advanced Coding Systems

Ceased to Operate

HW & Indust.

Second Round	18/08/2002	N/A	$1.3m
First Round	01/10/1999	N/A	$1m

AHT

Ceased to Operate

Energy

Other

07/08/2002

N/A

Allero

Ceased to Operate

Ent. SW

Seed

08/06/2022

$1.5m

$4.4m

Athena Fund

N/A

Investment in Fund

01/01/1985

N/A

CartiCure

Suspendeed Operations

Biomed

First Round

21/06/2010

$2.1m

CommerceMind Ltd.

Ceased to Operate

Ent. SW

First Round

01/05/2000

N/A

$4m

Ellara

Ceased to Operate

Energy

Third Round	11/06/2006	$5m	$14m	Held 39% of the company
Second Round	30/06/2004	$3m	$6m
First Round	07/08/2002	$5m	$8.7m

ELTAM

Ceased to Operate

N/A

Other

N/A

Enure

Ceased to Operate

Network Infra.

Internal Round	16/11/2007	N/A	$5m	Held 39% of the company
First Round	02/10/2005	$4m	$4m

Impliant

Ceased to Operate

Fourth Round	22/07/2009	N/A	$7.9m	Held 46% of the company
Third Round	15/03/2008	$6m	$10m
Second Round	29/12/2004	$10m	$18m

Innomed

N/A

Investment in Fund

01/01/2000

N/A

Journeys

Ceased to Operate

CO SW

Bridge

01/07/2007

$0.59m

Keepy AI

Ceased to Operate

Ent. SW

Seed

01/07/2021

$3.5m

MuseStorm

Written Off

CO SW

First Round

11/07/2007

$0.95m

10/2008: wrote-off investment; Held 23% of the company

NeuroSonix

Ceased to Operate

Second Round

01/09/2006

$5m

$12m

In two tranches; held 16% of the company

NuLens

Ceased to Operate

Internal Round	20/11/2007	$4.2m	$8m	Held 35% of the company
Second Round	12/03/2006	$2.6m	$6m
First Round	21/04/2005	$2.9m	$3.5m

Optichrom Ltd.

Written Off

Network Infra.

First Round

21/12/2000

$2m

$5m

Owned 5% of the company

Peach Networks

Ceased to Operate

Network Infra.

Other

N/A

Pocared

Ceased to Operate

$Pocared is the developer of leading technologies platforms. The P-1000™ uses the unique physical properties of intrinsic fluorescence to provide the fully automated, direct specimen, CULTURE-FREE Microbiology® and reagent- free solution for microorganism detection, identification and enumeration. The SP (Sample Processor) offers the world's first general use, automated cell fractionate concentrator that introduces sample purification, organism recovery and viability second to none. These proprietary process technologies dramatically improve the ability of practitioners and hospitals to implement evidence-based medicine, while reducing lab operating costs and improving profitability. Pocared™ brings to market the first truly comprehensive CULTURE-FREE Microbiology® solution that uses direct specimen sampling to detect, identify and enumerate microorganisms in minutes, not hours. Pocared™ stands unique in its ability to assist in optimizing antibiotic stewardship, patient care and laboratory efficiency.$

Biomed

Sixth Round	01/06/2017	$2m	$10m
Fifth Round	17/02/2015	N/A	$15m
Fourth Round	01/03/2014	$5.4m	$9.5m
Third Round	01/05/2013	$3m	$10m
Secondary Deal	17/07/2011	$15m	N/A	Bought 37% of the company from MedTechnica for $2m.
Second Round	12/06/2007	$5.35m	$10.7m

Pulsicom

Written Off

Network Infra.

First Round

19/04/2001

N/A

Wrote off investment; Held 18% of the company

RADLive

Ceased to Operate

Network Infra.

First Round

30/05/2007

$3.75m

$7.65m

Held 29% of the company

Sidetalk

Ceased to Operate

Ent. SW

Seed

01/07/2022

$0.5m

Last Updated:	abCDe
IVC Number:	abCDe