CTECH – Israel’s Latest Innovation & Technology News Sept. 7, 2022
Spot.io founders raise $28M for secret cyber startup two years after $450M exit. Former Spot CEO Amiram Shachar recently founded a new cybersecurity company named Upwind alongside members of the team with which he built Spot: Liran Polak, Lavi Ferdman, and Tal Zur. Read more
Harman acquires Israeli in-cabin radar sensing startup Caaresys. The Israeli startup has developed a small radar that utilizes biometrics to detect the location, health condition and state of each vehicle occupant. Read more
Cymulate clinches $70 million Series D for continuous security validation platform. The Israeli startup has developed a comprehensive platform for organizations to validate their cyber posture continuously and on-demand by testing their cloud and on-premise networks against the latest threats. Read more
Innoviz Technologies deploying LiDAR sensors in Chinese ports. The first deployment with strategic partner HiRain Technologies started in RiZhao port, with both parties planning to expand the project to additional ports, including on HiRain’s autonomous trucks and AGVs. Read more
TripleW applies Israeli ingenuity to make waste history. Through their pioneering efforts in producing lactic acid from food waste to create bioplastics, a pair of childhood friends, Tal Shapira and Amir Oranim, are turning trash into treasure. Read more
CTech’s Book Review: Assessing five temptations that CEOs might face. Eze Vidra, Managing Partner, Remagine Ventures, shares insights after reading “The Five Temptations of a CEO” by Patrick Lencioni. Read more
Opinion | From flounder to founder: How to start up your startup. On the path to success there are hacks to make your journey easier. Below are five tailored for the first-time founder. Read more
Opinion | Performance is a State of Mind. Greatly concerned about entrepreneurs’ wellbeing, and the ways in which they can improve it, Yuval Baharav, General Partner at SOMV, presents a comprehensive survey allowing entrepreneurs to see where they are compared to their peers, and compared to where they wish to be. Read more
Bosch to acquire Elmo Motion Control for $700 million. The Israeli company, founded in 1988 by Haim Monhait, designs and manufactures ultra-advanced servo drives and network motion controllers. Read more
“If you really love what you do, don’t give up. You can be a mother and have a career.” In an interview with CTech, Evelyn Landman, Co-Founder and CTO at ProteanTecs, discusses her current startup and shares her perspective on juggling a career and family life. Read more
“Cognitive decline is the real pandemic of the modern age.” Cognishape has recently raised $1 million to help older adults with cognitive decline. Read more
Raftt raises $5 million for creating and sharing development environments. The Israeli startup’s technology uses existing tools to connect the developers to the remote development environment while retaining the current workflow. Read more
Intel Ignite Tel Aviv appoints Alon Leibovich as Managing Director. “His experience, in addition to Alon’s mentoring personality, makes him an ideal program managing director,” says Tzahi Weisfeld, Intel’s Vice President and GM of Intel Ignite. Read more
Opinion | Nasdaq meltdown? Private technology companies in Israel just keep raising capital. A study conducted by IBI Capital’s S-Cube summarizing the first half of 2022 shows that the value of technology companies in advanced financing stages continues to rise. For any company considering an IPO, now is the time to prepare. Read more
Snap sacks dozens of employees in Israel, to close Herzliya R&D center. The social media giant’s activity in Israel was built around the acquisitions of AR startup Cimagine and Voca.ai, which was acquired for around $70 million in November 2020. Read more
Olive Diagnostics extends Seed round to $7.3 million for AI-powered real-time urine analysis device. The Israeli startup received the CE Marking in Europe for its AI-powered optical urine analysis device which measures red blood cells, proteins, ketones, Nitrite, and pH. Read more
Mapping the HR-Tech landscape. Talented, motivated employees have always served as the cornerstone of successful companies. In today’s era of increased competition over highly qualified talent, and new employment models like remote work – leveraging technology to stay ahead of the curve is more vital than ever. Read more
Sallie Krawcheck is on a mission to close the gender wealth gap. Once known as “the most powerful woman on Wall Street”, Sallie Krawcheck was tired of seeing the capital market full of men helping other men get rich, while women who worked hard all their lives retired with nothing. So she established Ellevest, a revolutionary investment company for women: “The biggest mistake women make is that they don’t invest enough. Because statistically, when they do, they earn more than men.” Read more
Opinion | Embedded finance is already here – what comes next? “The time is ripe for all parties involved in financial transactions – financial institutions, businesses and end-users – to embrace the combined benefits of embedded finance, including payments, lending, and other financial products and services,” writes Pavel Livshiz, General Partner at Hetz Ventures. Read more
Opinion | Israel’s space race has an IP issue that needs its own exploration. “If you want to develop AI-mediated space technologies and you want to be safe from the nuisance of IP infringement lawsuits, maybe consider developing and launching it from Israel,” writes Dov Greenbaum. Read more
SentinelOne more than doubles revenue, optimistic about outlook. The cybersecurity company reported quarterly revenues of $102.5 million and an increase of 122% in ARR. Read more
OVO Automotive raises $3.5 million for vehicle infotainment platform. The Israeli startup uses an original cloud-based app delivery method, plug-and-play to any existing infotainment system, enabling in-vehicle customer interaction independent of automakers and Apple/Google. Read more
Novidea to provide insurance giant Gallagher with insurance management platform. The deal is expected to generate tens of millions of dollars in revenue for the Israeli startup. Read more
Hippo Insurance lays off 70 employees, cutting 10% of workforce. The shares of the Israeli-founded insurtech company fell by almost 6% on Wednesday, reducing the company’s market cap to $555 million. Read more
Opinion | Is it time to reconsider PSA tests for Prostate Cancer? “The treating physician should determine what is best for the patient based on his unique age, family history, health, lifestyle, race, ethnic background, and other factors,” writes Itay Barnea, CEO of BioProtect. Read more
