The flow of startups seeking to raise funds on the Tel Aviv Stock Exchange (IPO) has slowed, but there are still early-stage companies planning an IPO. Sources tell ‘Globes’ that GeTruck, which has algorithms that intelligently connect companies in need of trucks to transportation services across Israel, is looking to raise NIS 17 million, for a company valuation of NIS 60 million , before money. The IPO is being led by underwriting firm Orion.

According to IVC, GeTruck was founded in 2019 by entrepreneurs CEO Rom Grinfeld, CTO Leonid Schnaiderman and COO Eliran Mesika. The company has raised $500,000 to date in a seed round from private investors including Avi Goldfinger, Avi Tsur, Omri Meliches, Hub Quantum, Taavura-Livnat Accelerator, and HLabs.

Companies using GeTruck’s services, according to its website, include Shufersal, IceCure, Delek, and Walla! Stores. The company earned NIS 2 million in revenue last year and expects significant growth in 2022.

Published by Globes, Israel business news – en.globes.co.il – on March 22, 2022.

© Copyright Globes Publisher Itonut (1983) Ltd., 2022.