ENTERPRISE 4.0 | Q4 2022
The BGV Beat
KEY TRENDS
Back Down to Earth
The Global Downturn Will Spur Innovation
VC funding in the US is down 53% year over year, and down 37% from Q2. Eric Buatois, General Partner at BGV explains how venture capitalist are reacting to these market trends and why they are moving towards Centaur plays.
Israel’s Overheated Market Cools Down
After a red-hot 2020 and 2021, the Israeli market is experiencing a healthy correction, bringing valuations back down to earth.
DEEPER INSIGHTS
Building a Global Climate Tech Ecosystem
Investing in a Responsible Future: Climate Tech and ESG Investing
The focus on Environment, Social and Governance (ESG) investing has grown rapidly over the last five years, and will constitute one-third of all global assets by 2025.
A Community of Like-Minded Entrepreneurs
Net Zero’s vision is to build a global community of Climate Tech entrepreneurs, investors, and multinational corporations with the goal of creating a global climate tech ecosystem in Israel.
Portfolio Financings and Exits
Onymos, developer of the world’s first Features-as-a-Service platform, announced that it has raised $12 million in Series A financing led by Great Point Ventures, with participation from Benhamou Global Ventures, Engineering Capital, and Industry Ventures.
The Series A financing builds on an exceptional year for Onymos, which saw a more than 300% increase in annual recurring revenue.
Platform.sh, a unified, secure, enterprise-grade platform for building, running and scaling web applications, today announced it has raised $140 million in Series D funding. The round was led by Munich-based Digital+Partners, San Francisco-based Morgan Stanley Expansion Capital, and Paris-based Revaia, alongside existing investors BGV, Eurazeo, Hiinov, and Partech, all re-investing.
Evinced, the leading software company powering accessible web and mobile development, today announced a $38 million Series B funding round. The round was led by global software investor Insight Partners with participation from existing investors M12 (Microsoft’s venture fund), BGV, Capital One Ventures, and Engineering Capital, bringing the total raised to date to $57 million.
Kardinal, the route optimization solution, raises €10 million in Series A with venture capital funds Benhamou Global Ventures as lead investor, accompanied by Cap Horn Invest and Plug and Play Ventures, as well as its historical shareholder Serena.
With this Series A, Kardinal aims to become the European leader in optimizing last-mile logistics.
Cryptosense, an innovator in cryptography management, has been acquired by SandboxAQ, a leader in Quantum technologies. Sandbox was spun out of Alphabet earlier this year, and the combination with Cryptosense will make a substantial impact in transitioning the French, US, and UK governments, along with the world’s leading enterprises, to crypto-agility and post-quantum readiness.
EverestLabs has achieved “significant momentum,” Ambati claims, pointing to customer deployments in North America. With sights set on a global expansion, EverestLabs closed a $16.1 million Series A round that brings the company’s total raised to $24.63 million.
Translink Capital led the Series A, with participation from NEC Orchestrating Future Fund, BGV, Sierra Ventures, Morado Ventures and Xplorer Capital.
Cross Border Perspectives: The French-US Bridge
Montreal, the Disruptive Choice for Relocation
Zelros thought long and hard about its options when choosing a location for a foreign office. Ultimately, they decided on Montreal, Canada – an out-of-the-box location that has nonetheless proven to be a wise choice.
Making a First Hire in the US: What European Startups Should Know
Fred Plais shares insights from his own experience moving from France to California to build a global company with 320 employees spanning 35+ countries and 200+ cities around the world.
IP and Data Management: A Guide for Entrepreneurs
David Masson shares legal frameworks which entrepreneurs can use to protect their intellectual property, navigate global regulations, and leverage their data to increase their company’s value.
Fundraising Strategies for Growth Stage Companies
Matthew Howard, General Partner at Norwest Venture Partners, shares fundraising strategies for growth stage CEOs reaching Series B stages and beyond.
SPOTLIGHT
INSEAD Features EAIGG Annual Report
“Responsible AI Has Become Critical for Business” reads INSEAD Knowledge article by Claudia Zeisberger and BGV’s Anik Bose. The piece is an adaptation of an article published in the Ethical AI Governance Group’s 2022 Annual Report. See why investors are making the ethical deployment of AI a top priority in their due diligence and portfolio management processes.