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Softbank Invests $1 Mln in Israeli Company i-Scraper
"Globes" learns that Japanese investment corporation Softbank will invest $1
million in Israeli company i-Scraper through the Seed Capital Partners fund,
which is affiliated to it. The investment formed part of a $6.5 million
capital-raising exercise conducted at a company value of $16 million after
money.
This round of capital raising was led by the Apex Israel fund, which
invested $3.5 million in the company. Israel Seed partners (ISP) of
Jerusalem, and Apax Europe also participated, each investing $1 million in
the company. This is the company's second round of capital raising. In the
previous round, in March, ISP invested $1 million.
Information systems engineer Shaul Mazor (29) and Asher Bennett founded
i-Scraper at the beginning of 1998. The company developed a system for
co-ordinating and managing construction projects via the Internet. The
system enables those designing and co-ordinating the project, such as
architects, engineers, the developer and the suppliers to be continuously in
touch in real time, including for the purpose of forwarding drawings and
other aspects of design and management. The system is compatible with
various design tools, and operates on the company's Internet site.
The company's customers include Gad Zeevi's Grand Kanyon (Shopping Mall) in
Haifa, the Azrieli Centre, the Hebrew University, the University of Haifa
and the British pharmacy chain Boots.
Softbank, one of Japan's largest companies, is an investment corporation
specialising in the Internet. Its holdings include on third of the shares of
the Yahoo! Portal, and its market value is estimated at over $51 billion.
Published by Israel's Business Arena November 16, 1999
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