Qumra’s Top 11: The Israeli startups to watch out for in 2024

A system that provides doctors with real-time insights about their patients, a cyber platform that can protect the organization even after an attack, and a system that allows any organization to easily create applications based on artificial intelligence (AI) - these are just some of the products developed by the 11 companies selected to be included in Qumra Capital’s annual “Tomorrow’s Growth Companies” list.

The selected companies will join the delegation to Calcalist's Mind the Tech NYC conference, which is being held this week.

This is the fifth year that Qumra Capital is publishing the list of promising growth companies, and this year the selection was particularly complex. "The compilation of the list began in the summer of 2023," said Sivan Shamri Dahan, Managing Partner and co-founder at Qumra Capital. "The events of October 7 led to the postponement of the process, but at the same time revealed to us not only sharp and ambitious CEOs, but also people who are the salt of the earth. People who put their daily routine aside, and enlisted to fight for the protection of our homeland. CEOs who fought on the front lines or through the technologies and products they developed. It was exciting to hear the experiences from the field, and to see the complete trust they placed in their excellent teams, as they continued the business activity in a phenomenal way. The next few years will present us with quite a few challenges, with social, political and economic changes set to take place. The State of Israel has been experiencing an ongoing crisis over the past three years, but this will not stop us. Extraordinary companies such as the companies selected for the list will bring growth and prosperity with them, and will strengthen and empower the Israeli economy. This is the role that we carry on our shoulders as a high-tech industry. We are the engine that drives the economy."

These are the 11 startups selected to Qumra Capital’s “Tomorrow’s Growth Companies” list:

Name: Agora Real

Sector: Proptech

Founded: 2019

Founders: Bar Mor, Lior Dolinski, Noam Kahan

Employees: 95

Investment: $29M

Investors: Aleph, Insight Partners

Agora Real has developed a system for investment management and back-office automation tailored for real estate companies. The company's system centralizes financial information related to investments, automates manual processes, calculates commissions, returns, taxation, and other elements, and makes all data accessible to real estate companies and investors.

Name: Air Doctor

Sector: Healthtech

Founded: 2018

Founders: Jenny Cohen Derfler, Efrat Sagi Ofir, Yam Derfler, Yegor Kurbachev,

Employees: 72

Investment: $30M

Investors: Lightspeed Venture Partners, Vintage Investment Partners, Munich Re Ventures, The Phoenix

Air Doctor connects travelers seeking medical treatment with local doctors abroad through an easy-to-use application. The company manages a global network of more than 20,000 doctors in 2,000 cities across 77 countries. Its goal is to make healthcare services accessible to everyone who needs them anywhere in the world and to provide peace of mind while traveling.

Name: AIVF

Sector: Healthtech

Founded: 2018

Founders: Daniella Gilboa, Prof. Daniel Seidman

Employees: 50

Investment: $34M

Investors: Insight Partners, Adam Neumann

The company has developed a unique system based on artificial intelligence to improve and optimize fertility treatments. The AIVF platform is currently the operating system for dozens of leading IVF units worldwide. The company's system enables immediate diagnosis of the chromosomal integrity of the fetus and its potential for a normal pregnancy. It is already installed in 40 clinics across the USA, Europe, South Korea, South America, and Australia.

Name: Akeyless Security

Sector: Cybersecurity

Founded: 2018

Founders: Shai Onn, Refael Angel, Oded Hareven.

Employees: 100

Investment: $80M

Investors: JVP, Team8, NGP

Akeyless Security leads innovation in the field of "secret management" (passwords, encryption keys, etc.). The SaaS-based platform performs the demanding task of managing secrets while effectively eliminating conventional safes and reducing associated costs by up to 70%. The platform's extensions also handle secure remote access, enterprise password management, and data protection. Akeyless protects the secrets of Fortune 500 companies and gives customers full control over their secrets.

Name: Eleos Health

Sector: Healthtech

Founded: 2020

Founders: Alon Joffe, Alon Rabinovich, Dror Zaide

Employees: 90

Investment: $68M

Investors: Menlo Ventures, F-Prime, Eight Roads, aMoon, Arkin Holdings, Lool Ventures

The company analyzes therapeutic conversations using natural language understanding, deriving insights and value propositions for therapists to optimize workflow and enhance clinical outcomes. Eleos Health's solution is currently utilized by thousands of therapists across over 60 organizations and institutions in the U.S. With the company's solution, therapists can allocate more time to patient care and less to administrative tasks.

Name: Exodigo

Sector: Underground mapping

Founded: 2021

Founders: Jeremy Suard, Ido Gonen

Employees: 150

Investment: $118M

Investors: National Grid Partners, Zeev Ventures, 10D, SquarePeg, Jibe.

Exodigo has developed a technology based on sophisticated sensors and artificial intelligence to identify the composition of the soil without the need for drilling and physical excavation, which is time-consuming and damages the soil surface. The system was activated after the discovery of a sinkhole in the Ayalon Highway to map the area and assess risks, saving the need for deep excavation. Company personnel located several suspicious areas near the sinkhole and filled them with concrete. The technology is currently used in energy, transportation, and construction infrastructure projects in the USA, Europe, and Israel to quickly identify old infrastructure presence, soil composition, rocks, and groundwater, enabling safe project execution and expense reduction. The company engages in commercial activities with dozens of large companies worldwide.

Name: Navina

Sector: Digital Health

Founded: 2019

Founders: Ronen Lavi, Shay Perera

Employees: 110

Investment: $44M

Investors: ALIVE, Grove Ventures, Vertex Ventures Israel, Schusterman Family Investments

Navina leverages AI technologies to ensure more effective treatment in every encounter between doctors and patients. The system developed by the company processes complex and fragmented medical information from diverse sources into meaningful insights for doctors. Navina increases the number of accurate medical diagnoses by tens of percent, helps doctors refer patients to preventive treatments, delays the development of diseases, reduces hospitalizations, prevents suffering, and saves lives. The system is used daily by thousands of family doctors in the U.S. and impacts millions of patients.

Name: Nimble

Sector: AI

Founded: 2021

Founders: Uri Knorovich, Yuval Shalev, Alon Bar-Tzlil, Menachem Salinas

Employees: 65

Investment: Not provided

Investors: Leading venture capital funds

Nimble is a platform for effortlessly creating artificial intelligence and business intelligence applications using real-time updated public information for companies. The company employs innovative data streaming and collection technology, which, through unique language models, can operate at any scale through AI-based analysis, verification, and quality control. The goal is to make advanced AI applications accessible to every business, speeding up performance, improving efficiency, and thus encouraging economic growth.

Name: Qwak

Sector: AI

Founded: 2020

Founders: Alon Lev, Lior Penso, Ran Romano, Yuval Fernbach

Employees: 40

Investment: $27M

Investors: BVP, Leaders Fund, StageOne, Nordstar, Amiti

Qwak optimizes the machine learning development process through a unique and advanced platform. The platform enables the construction of complex projects in machine learning and artificial intelligence easily and efficiently. It offers an integrated solution for all the needs required for development in the field of machine learning.

Name: Trullion

Sector: Fintech

Founded: 2019

Founders: Isaac Heller, Amir Boldo

Employees: 75

Investment: $34M

Investors: Aleph, Third Point Ventures, Greycroft, StepStone Group

Trullion's system facilitates the swift input of documents (PDFs, Excel, and text, including handwritten documents), their analysis using natural language processing (NLP) systems, and the generation of accounting reports. Moreover, the system allows for insights generation and identification of gaps in accounting information, thereby averting errors and enhancing data transparency and adequacy. The software scans companies' contracts, extracting accounting data, and, in conjunction with artificial intelligence-based mechanisms, transforms them into valuable insights. Targeting financial managers and accounting firms, the company offers substantial efficiency gains in their operations.

Name: Zero Networks

Sector: Cybersecurity

Founded: 2019

Founders: Benny Lakunishok, Amir Frankel

Employees: 45

Investment: $50M

Investors: U.S. Venture Partners (USVP), Venrock, F2 Venture Capital, Pico Venture Partners, Dmitri Alperovitch

There is no security product that can protect an organization 100%. But what happens if an attacker successfully infiltrates the corporate network or if one of the employees inadvertently clicks on a phishing email? This is where Zero Networks comes into play. The company's system establishes a separation between all the machines and end devices utilized by the organization, thereby thwarting attacks on the entire network. It automatically manages and grants access to each segment of the corporate network, ensuring that only authorized individuals and devices can access them during designated times, utilizing multi-step authentication.