CTECH: Latest Israeli Innovation & Technology News Feb. 9, 2023
She-VC | “Our philosophy is that a woman shouldn’t have to give up on anything to pursue her career.” Shelly Hod Moyal and Mor Assia, Co-CEOs and founding partners at iAngels, tell their story of support, motherhood, and the advantages of diversity. Read more
Unicorn Gong cuts 80 jobs, 7% of workforce. The company laid off 15 employees three months ago, but ultimately decided it required far more significant cutbacks. Read more
eBay laying off dozens of employees in Israel as part of global cutbacks. The e-commerce giant announced on Tuesday that it will lay off 500 employees globally, representing 4% of its total workforce. Read more
Equitybee cuts 25% of team in second round of layoffs. The company is laying off another 24 employees after parting with 25 last October. Read more
Meala FoodTech secures $1.9 million pre-Seed round for functional protein platform. The Israeli startup’s technology enables the development of functional proteins for multiple meat replacements. Read more
Opinion | Get ready for consolidation in over-funded spaces. “While most companies are tightening their belts, founders and boards should ask themselves to what end are they surviving and if they foresee a viable, standalone business when their 24 months of runway comes to an end,” write Boaz Morris and Ofer Vishkin of Qumra Capital. Read more
Microsoft and Israeli startup Classiq collaborate to bring advanced quantum software to researchers and academic institutions. Collaboration to offer academia access to state-of-the-art quantum algorithm design, analysis, and hardware execution via Azure Quantum. Read more
“Intel faces difficult strategic choices and needs to figure out what the company will look like in the future.” Amir Faintuch, the new CEO of Volumez, was once one of the most senior Israelis at Intel, reaching the role of Senior Vice President and General Manager of Platform Engineering. Read more
Fintech startup Wisor AI raises $8 million in Seed for freight booking software solution. The Israeli startup has developed a software solution tailored specifically to the needs of freight forwarders, automating both the manual process of aggregating pricing data as well as the optimization of shipping routes across the global freight ecosystem. Read more
$400 million lawsuit reveals how Eytan Stibbe allegedly scammed his ex-partners in Africa. Ami Lustig & Roy Ben Yami, who together with Stibbe founded the LR Group, which operated in Angola, claim Stibbe took over the company’s assets worth hundreds of millions of dollars through “a series of fraudulent acts.” Read more
Japan’s ORIX invests in theDOCK’s Navigator II maritime and supply chain fund. While the amount was not disclosed, this brings its initial closing to $30 million. Read more
Opinion | The forecast from Davos: a catastrophic cyber event. “Israeli technology companies are creating the most advanced cybersecurity solutions in the world, but there is still a mismatch between our technological capacity and the security of our own critical infrastructure at home,” writes Yaniv Vardi, CEO of Claroty. Read more
“It’s time for a company like Check Point to reach a value of $100 billion.” “There are currently 7,000 cyber companies in the world, far beyond the existing demand in the market,” said NightDragon founder & managing director Dave DeWalt. “It’s a Darwinist cyber bubble. Whoever survives will be whoever succeeds in the coming year.” Read more
She-VC | “We do not invest in women just because they are women, they really were the best choices.” Bar Dor, Associate at TLV Partners, shares her story, her opinions, and concerns on juggling a family and a career. Read more
Mobileye closing on $35 billion market cap after doubling its valuation in three months. The Israeli self-driving company recently announced that its forecast for 2023 revenue is higher than analysts’ projections and delivered better-than-expected earnings in the fourth quarter. Read more
Fintech startup TenureX shuts down after funding dries up. The company had raised a total of $5 million and employed around 20 people before being hit hard by the economic downturn. Read more
NZIIH launches to foster ties between Israel and New Zealand. The New Zealand Israel Innovation Hub plans to improve relations between the two nations through tech collaboration and NGO initiatives. Read more
Opinion | Quiet Hiring: The new trend in talent management. As the world of work continues to evolve, so do the trends and practices that shape it. In recent years, the discussion around employee turnover has shifted from “The Great Resignation” to “Quiet Quitting” and now, a new trend is taking center stage: Quiet Hiring. Read more
NTT Security CEO: “The increase in Japan’s defense budget is an opportunity for Israeli cyber companies.” Japan recently announced an increase in its defense budget so that within five years it will be the third largest in the world. “Israel is important to us. There are many companies here which specialize in cyber. NTT Israel is trying to team up with local startup companies. There is also the potential for acquisitions and investments,” said Kazu Yozawa, CEO of NTT Security. Read more
A crack in the SPAC? Hub Security’s SPAC merger in danger of falling through. The Israeli cyber company postponed the completion date of its $1.28 billion SPAC merger to the end of the month after one of the anchor investors backtracked. Read more
Lightico lays off 25% of team in second round of cutbacks. The fintech company laid off 20 of its 80 team members after parting with a similar number of employees last March. Read more
Billionaire Steve Cohen leads $27.5 million investment in MediWound. Cohen’s Point72 hedge fund invested $15 million in the round in what is believed to be the billionaire’s first investment in an Israeli company. Read more
Digital bank One Zero raises another $62 million at $320 million valuation. One Zero’s pitch deck to investors revealed that it plans to embark on a larger funding round towards the end of the year at a higher valuation. This round is planned as part of its preparations to expand into Europe and ahead of a potential IPO. Read more
Up to $15,000 a month: High-tech HR salaries soar. The average salary for human resources positions in Israeli high-tech stands at over $6,500 per month compared to an average of $3,200 in placement or recruitment companies. Read more
EU would view Israel “in the same category as China” if judicial reforms go through. The impending judicial reforms and change in legal frameworks might cause the EU Commission to reconsider whether Israel has ‘adequate’ laws in place to protect the personal data of citizens. Read more
She-Inspires | “To some extent I am spite driven. I got so pissed at the situation and thought this has to change.” Carine-Belle Feder, CTO & Co-Founder at Antidote Health, was unhappy at being the only woman in the room so she decided to make a change and started “Baot”, a community of women that support one another. However, she didn’t stop there and started her own healthtech startup, proving she really can do it all. Read more
Cybersecurity company Cyren on verge of shut down after laying off entire workforce. The Israeli-founded company said that “in response to current market conditions and associated challenges with raising additional capital” it plans to “reduce its workforce by approximately 121 employees, representing substantially all of the company’s workforce.” Read more
Opinion | This is fine? Wake up and smell the smoke! “High-tech is not only the engine of the economy – it is also the shield. It is our wall of defense against inflation. It protects the pocket of each and every one of us,” writes Shaul Amsterdamski. Read more
Opinion | Is 2023 the year of “CMO-as-a-Service”? How many times have you been offered ‘consulting’, ‘advising’, ‘strategy’, ‘planning and ‘opinions’, or expertise in a specific field – while what you really needed was end-to-end operation, hands-on work, with responsibility and accountability? Read more
CTalk | Meet Israel’s most diverse tech company. Liat Shahar, Chief People Officer at Minute Media, spoke to CTech after the company was named as Israel’s most diverse tech company at Calcalist’s Power in Diversity event. Watch full video
Via: “We want to make sure there are solutions for every one of us.” Shimrit Nothman, Head of Media and Community Relations at Via, spoke to CTech about the importance of diversity in the workforce. Watch full video
Israeli nuclear fusion startup raises $22 million Series A for clean energy solution. NT-Tao aims to disrupt the global energy sector by engineering a compact and scalable nuclear fusion energy technology with the goal of achieving commercialization this decade. Read more
Gem Security gets $11 million in Seed funding for cloud security platform. The Israeli startup offers a platform that leverages existing infrastructure and solutions while offering automated detection, investigation and response capabilities purposely-built for cloud environments. Read more
She-VC | “I want others to see women in the room and think they might want to have a female co-founder.” Almog Zoosman-Lehman, Community & Partnerships Lead at Amiti Ventures, believes in the power of hard work and networking. Read more
Women make up a mere 10-20% of R&D teams in the Israeli gaming industry. According to a recent survey by the GameIS association and the “Women in Gaming” community, only 21% of senior board members in gaming companies are women. Read more
“AI is being used in almost every medical field.” “We are in a period in which the paradigm is changing,” added Prof. Irit Bahar at the Beilinson Innovation & Artificial Intelligence Conference. “The capabilities of AI models to answer a question in a short time are unprecedented and suitable for the current era.” Read more
“Using existing data can prevent diseases and save lives.” Dr. Orit Wimpfheimer, Clinical Director at Nanox AI, also noted that “it is possible to leverage scans in order to extract more valuable clinical findings in the identification of chronic diseases.” Read more
BiblioTech | CTech’s Book Review: How to create a motivated and engaged workforce. Inbar Hengel, Head of Operations at Profero, shares insights after reading “Delivering Happiness” by Tony Hsieh. Read more
CTalk | “We have new topics about what feminism is and what it brings to the table.” Avigail Rosen, Senior Business Operations Manager at Payoneer and Founder of WIRE, spoke to CTech about the changing meaning of feminism today. Read more
PHONE.DO helping Israel’s Haredi community with “economic independence and professional success.” The company’s CTO Israel Weinberg spoke to CTech at the Power in Diversity event held earlier this week. Read more
