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May 28, 2007

MentorWave closes second financing round

MentorWave Technologies (MWT) Ltd., a developer of interactive visualization solutions has closed a further financing round, raising $3 million from its existing investors, Ofer Hi Tech Ltd., and Docor International Management Ltd. The company has raised some $3.5 million to date in two financing rounds.

MentorWave was co-founded in 2002 by CEO Gadi Royz, program manager Pavel Yosifovich, and CTO Rony Amira. The company started out as a Naiot Venture Accelerator incubator company. Naiot was acquired by Ofer High Tech in 1997. MentorWave's virtual tours solution enables users to conduct a three-dimensional scan of sites using the company's interactive visualization platform. The solution is targeted at a wide range of sectors such as real estate, tourism, entertainment, security and others.
According to IVC Online data, MentorWave had sales totaling $2 million in 2005. The company is based in Tel Aviv and employs 10 people. Ofer High Tech VP Shmuel Aran and Docor International CEO Dr. Alon Dumanis will join the MentorWave board.

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