Although investments in startups are out of season, Herzliya-based fund

Veritas Venture Partners

led seed-rounds for three startups, securing them almost $10 million in late 2000. The three startups are Navicula, Bamboo and e-Ship-4u.

Navicula received $3.5 million in a round in which the Aurum-SBC Fund also participated. Navicula develops Internet infrastructure technology to improve the user experience on the Web. Navicula's technology represents the next generation of the Internet, the "X-Internet", allowing browser-based applications to perform like full-fledged applications. Initial implementations include financial services and enterprise software.

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Bamboo secured $2.5 million, and was joined in this investment by the Aurum-SBC Fund and the Link Fund. Bamboo provides real-time rich media broadcasting solutions for the wireless market. Its solution focuses on efficient bandwidth utilization, real-time delivery, and enhanced user experience over dynamic end-user reception capabilities. Bamboo's solution will allow wireless carries to leverage their infrastructure and user bases by offering value-added services through underutilized resources.

The last, e-Ship-4u, received $3.8 million. The Yozma fund also took part in this round. E-Ship-4u is developing a revolutionary solution to the `Last Mile' problem in deliveries of physical goods. Through networks of Automatic Delivery Machines and centrally controlled customer web base interface installed at e-commerce sites and m-portals, e-Ship4-u enables package carriers to significantly reduce delivery and pick-up costs at residential and small-to medium-size business areas.

PR Newswire