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Mobile road safety app Nexar raises $4M Seed round led by Aleph VC

Mobile road safety app Nexar raises $4M Seed round led by Aleph VC

Eran Shir, co-founder & CEO at Nexar[/caption] Nexar uses the power of crowdsourced feedback to detect real-time driving hazards and help prevent car accidents. The iPhone app alerts users when they’re near a dangerous driver, or coming into a dangerous intersection with limited visibility, providing immediate feedback to drivers nearby. Nexar is different than typical GPS-reliant apps like Waze, the Google-owned navigation app that crowdsources driving data to show alerts for things like accidents and speed traps, says Re/Code. GPS hogs your smartphone’s battery; Nexar takes into account sensors like your phone’s gyroscope, accelerometer and compass and from that, interprets location data and other information, added Re/Code. According to Shir, this method reduces the amount of time and frequency that the app needs GPS. Nexar is free to download and use. It’s launching first in Los Angeles, as well as Tel Aviv, where the startup is based, and is currently only available on iOS. Aleph VC, based in Tel Aviv, is a $140 million early stage venture capital fund founded in 2013 by Michael Eisenberg and Eden Shochat, focused on funding and helping Israeli entrepreneurs. Eisenberg has been a key figure in Internet and software investing in Israel since 1995, playing a central role in the development of many of Israel’s leading companies and startups. Prior to founding Aleph, he was a General Partner at Benchmark from 2005-2013. Prior to that, he was a partner at Israel Seed Partners for eight years, and had joined Israel Seed in 1997 from Jerusalem Global. Prior to co-founding Aleph, Shochat was a general partner at Genesis where he focused on seed-stage investments. Prior to that, he was a co-founder of face.com, a leader in web-scale face recognition in social networks, acquired by Facebook. He was also co-founder and CTO of Aternity.]]>

Wibbitz text-to-video app startup raises $8M Series B

Wibbitz text-to-video app startup raises $8M Series B

Zohar Dayan, Wibbitz Co-Founder & CEO[/caption] “High quality video content is no longer a luxury for publishers — it’s a necessity. Most video content is expensive to produce and maintain, and our technology solves this growing issue,” said Wibbitz co-founder and CEO Zohar Dayan. “Newsrooms are shrinking, video production remains costly, and there is huge demand for video ad placement. Wibbitz relieves these pressures so that editors can focus on creating quality content while executives can establish new opportunities for revenue.” The $8M investment will be used to build out the company’s U.S. headquarters in New York City’s Financial District, a growing hub for media and technology companies. Specifically, Wibbitz will be focusing on expanding its business development, sales, marketing, and editorial teams, with plans to hire about 20 new employees within the next few months. Wibbitz’ research and development and engineering team will remain in Israel. Founded in Tel Aviv in 2011, Wibbitz first released an award-winning mobile news app for consumers to showcase its text-to-video technology. Now, the company is launching its B2B platform and focusing on new features to expand its publisher services. Wibbitz has invested heavily in the development of its comprehensive Control-Room solution, a video creation platform that provides publishers with editorial control over branding narratives, visual components and the option for human voiceover. [caption id="attachment_6548" align="aligncenter" width="440"]Patrick-Soon-Shiong Patrick Soon-Shiong, Chairman of NantWorks, Chan Soon-Shiong Family Foundation and Healthcare Transformation Institute[/caption] “Wibbitz’ technology platform has massive potential for meeting the growing demand from publishers for a comprehensive video solution,” said Patrick Soon-Shiong, Founder of NantMobile. “We believe this technology will become a necessity for publishers to grow their existing business models and thrive in the era of digital media. We’re eager to join Wibbitz as it builds momentum and leads the way in video creation technologies.” “The ability to quickly create engaging short news videos is the perfect solution for today’s fast paced world,” said Fay Arjomandi CEO of NantMobile. “Wibbitz creates an effective and powerful new way to view customized content on mobile and other devices.”]]>