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Hope in the face of crisis: Giza and Proxima lead a $2.3 Million financing round in Soluto

Giza Venture Capital has joined Proxima Investments in leading the $2.3M first financing round in Soluto. Soluto was founded in 2007 by Ishay Green, who previously co-founded Onigma which was sold to McAfee for $20M; and Tomer Dvir, the company’s CEO, who formerly served as a senior executive at MDG Medical.

The company is currently in stealth mode and plans to release its initial product in early 2009.

“I am thrilled that leading investment firms such as Giza and Proxima are leading an investment in Soluto,” said Soluto Chairman Nadav Zohar, a former senior executive at Morgan Stanley. “We believe that the added value that they bring to the company will go a long way in ensuring its success”.

As part of the investment round, Naftali Bennett and Lior Golan –who previously founded and managed Cyota, which was sold to RSA for $145M – have joined Soluto as advisors to the management. Additionally Golan and Bennett participated in the investment.

Yaron Valler, a partner as Giza Venture Capital who has joined the company’s Board of Directors, said, “We are excited to invest in such an experienced management team. Soluto provides a unique and innovative solution to an unmet market need and defines a new category of software tools.”

About Proxima
Proxima Investments, led by Chaim Venezia and Uri Ra'anan, invests both its own funds as well as the funds of its customers in many startup companies. Soluto is the sixth company for which Proxima has raised funds from private and institutional investors. This is the second time Proxima has invested in a company in which Ishay Green has been involved. Proxima invested in Onigma six months before its sale, making a 300% return.

About Giza Venture Capital
Giza is one of Israel’s leading Venture Capital firms. Since 1992, Giza has invested in nearly 90 companies in the fields of IT, Communications, Life Sciences, and Internet. The firm manages $600M from its offices in Tel Aviv and Singapore.

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