# Panax Tech

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/panax-tech

- Industry: Financial Services
- Headquarters: Tel Aviv-Jaffa, Israel
- Website: www.thepanax.com
- Total disclosed funding: $15M
- Latest round: Series A (May 8, 2024)
- Investors on record: 2

## About

Founded in 2022 by co-founders Noam Mills, Niv Yaar, and Sefi Itzkovich, and based in Tel Aviv-Jaffa, Israel, Panax Tech Ltd. provides a platform to streamline treasury operations, optimise liquidity, and provide real-time cash flow visibility. In May 2024, Panax Tech Ltd. raised USD 10 million in Series A funding led by investors Team8 Capital and TLV Partners.

Panax Tech offers a cloud-based cash flow management platform. The platform utilises AI to automate tasks like transaction categorization and cash flow forecasting, reducing manual work for finance teams. Panax integrates with various banks and financial systems to provide a comprehensive view of cash flow across accounts and currencies. The AI analyses financial data to identify trends and generate insights, allowing for proactive decision-making. The software provides robust security measures to protect sensitive financial data.

The company will use the May 2024 funding to support manpower and geographic expansion.

## Funding rounds

- Series A, May 8, 2024, $10M — TLV Partners, Team8 Capital
- Seed, Jun 1, 2022, $5M — TLV Partners

## Investors

- TLV Partners (https://capitalatlas.ai/funds/tlv-partners) — Seed, Series A
- Team8 Capital (https://capitalatlas.ai/funds/team8-capital) — Series A