TheTime, an Israel-based incubator backed by advertising group McCann Worldgroup, has joined a consortium investing $1.3m in Getonic, a local online shopping platform.
Alongside TheTime, in which McCann bought a 15% stake as part of a $4m investment in April last year, were venture capital firm Rutledge Vine Capital, angel investor Mortimer Singer, and other angel investors, according to news provider Globes.
Ilan Shiloah, former chairman of McCann’s Israel subsidiary, founded TheTime alongside angel investor Nir Tarlovsky.