CTECH: Israel’s Latest Innovation and Technology News April 2, 2023
“Freedom in Israel is essential for the success of high-tech. Innovation is a synonym for democracy.” Yigal Unna was the head of a division in the Shin Bet (Israel Security Agency), and later the country’s top cyber defender as the head of the National Cyber Directorate. He left for the private market a year ago, and since then has been involved in countless ventures and establishing defense systems in foreign countries. Now, for the first time after decades in public service, he has also become a protester against the government and his former boss. But, despite the threats, he remains optimistic. Read more
“If foreign investors lose confidence, they will just move on,” says Tel Aviv Stock Exchange CEO. Tel Aviv Stock Exchange CEO Ittai Ben-Zeev says that foreign investments will return only if a political agreement is reached regarding the government’s judicial overhaul. Read more
Israeli startup raises $5.4 million to develop holographic imaging cameras. PxE Holographic Imaging’s technology makes it possible to acquire a high-resolution color image combined with an infrared image and a pixel-level depth map in a single snapshot. Read more
Hub Security valuation keeps falling as company fails to calm investors. The company reached a market cap of $145 million, a far cry from the value at which it was supposed to go public. Read more
Opinion | Open letters won’t stop AI arms race – governments must intervene. Despite the headlines created by the letter from the heads of the technology industry warning humanity against the too rapid advancement of Artificial Intelligence models, there is no chance that this innovation will stop or be delayed. Technology researchers Inbar Dolinko and Liran Antebi call for the rapid entry of state bodies into the picture to avoid unwanted consequences. Read more
Opinion | Enabling the synthetic biology revolution to reach across sectors. “While synthetic biology technology is still in its infancy compared to AI, there is no doubt that it will continue to transform the world,” writes Smart Resilin CEO Dr. Liron Nesiel. Read more
Innovation Authority to invest NIS 25 million to create Be’er Sheva innovation center. As part of the center’s establishment, three innovation sites will also be established in Be’er Sheva in the fields of medical data, autonomous robotics and cyber defense. Read more
Israeli startup funding hits lowest mark in five years. Two reports conducted by the Start-Up Nation Policy Institute, and by IVC Data and Insights with LeumiTech show worrying trends for Israel’s tech sector. Only $1.7 billion were invested during the first quarter of 2023 in Israeli tech companies compared to $6.7 billion in the first quarter of 2022. Read more
Israeli startup entrio raises $7.5 million for its IT asset management platform. The company plans to broaden its data coverage across more tech assets and help businesses gain a more holistic view of their tech stacks. Read more
CTalk | “Like the State of Israel we are really focused on innovation.” Anita Leviant, President of the Israel-Britain Chamber of Commerce and Innovation and head of LA Global Consulting, was speaking with CTech at Mind the Tech London. Read more
Opinion | How to protect your organization from BEC scams in wake of SVB collapse. You don’t have to be an SVB client to fall victim to a scam riding the tech bank’s collapse. Attackers are quick to integrate the financial catastrophe into their BEC scams. This is how to protect your organization. Read more
Cisco acquiring Israeli startup Lightspin for $200-250 million. Lightspin developed a context-based cloud security platform for cloud-native and Kubernetes environments. Read more
Tel Aviv has the fifth most unicorn companies in the world. Tel Aviv-based startups raised $6.9 billion in 2022, almost 2 times more than in 2020, according to a new international report. Read more
Cloud startup env0 extends Series A to $35 million with additional $18 million. The env0 platform enables users and teams to collaborate and provide self-service cloud deployments. Read more
Agtech startup SupPlant takes its Series C to $38 million with $11 million extension. The company’s sensors are placed on the plants and their surroundings and send data to the cloud where it is determined how much water the plant actually needs to maximize growth. Read more
SCADAfence raises $16 million, adds Fujitsu and Mitsubishi Electric as new investors. The Israeli startup’s platform enables organizations with complex OT networks to integrate industrial IoT by reducing cyber risks and mitigating operational threats. Read more
Jigso emerges from stealth with $7.5 million in Seed for its AI business assistant. Its Generative AI assistant helps cut the noise of apps, dashboards, texts, and emails, helping boost productivity for businesses. Read more
Spera raises $10 million to provide proactive protection from identity-driven threats. The Israeli startup developed a solution that aims to provide end-to-end identity attack surface management, risk reduction and identity threat prevention, detection, and response. Read more
Forter CEO: “When the economy slows down, fraud goes up.” Michael Reitblat, co-founder & CEO of e-commerce fraud prevention company Forter, spoke with CTech at the Mind the Tech conference in London. Watch full video
“Everything that has to do with investment processes has changed.” Nate Meir, Partner at StageOne Ventures, joined CTech to discuss differences in investment today for founders and VCs. Watch full video
“Great founders are in the networks of other great founders.” Leila Zegna, Founding General Partner at Kindred Capital, spoke to CTech about how they find and treat their entrepreneurs. Watch full video
“Founders are expected to know everything about everything immediately.” Nimrod Vromen, CEO of Consiglieri, spoke to CTech about how the company can help founders. Watch full video
Zorro raises $11.5 million for personalized health benefits platform. The Israeli startup’s platform analyzes employers’ benefit objectives to create a top-down predictable budget and benefit allowance per employee or group of employees. Read more
Reeco raises $10 million for AI-based hospitality procurement marketplace. The Israeli startup provides a streamlined process for hotels and other hospitality buyers to order everything from food and beverage to cleaning supplies. Read more
Opinion | Conversational AI: Revolutionizing search and transforming our mental models. The emergence of conversational AI has the potential to revolutionize the way we search for information and interact with technology, leading to a transformation in our mental models from search to conversation. Read more
“Anyone who has the courage and the capital to invest today is going to do very well.” Nicole Priel, Partner & Managing Director at Ibex Investors, explained to CTech during the Mind the Tech conference in London why this is the time fortunes are made. Watch full video
“The last couple of weeks were a wake-up call for the tech industry.” Efraim Chalamish, Professor at New York University and Senior Advisor and Institute Fellow at Kroll, joined CTech to discuss the significance of risk management in challenging times. Watch full video
“We are revolutionizing the world of RNA.” Yaniv Erlich, CEO of Eleven Therapeutics, was speaking at the Mind the Tech conference in London. Watch full video
Mentor Class | Gong founder: “Most large companies emerge in new categories.” In the second installment of Mentor Class, a series of online meetings, sponsored by Calcalist and Poalim Hi-Tech, Eilon Reshef, co-founder of Gong, chatted with Xyte co-founder Omer Brookstein. Read more
Historic strike: Israeli tech sector joins general strike as judicial reform plan sparks government chaos. The striking companies included publicly-traded firms like Wix, Lemonade, monday.com and Fiverr, as well as the likes of Dazz, Natural Intelligence, Skai, and VC firms such as Pitango and Team8. Read more
Microsoft Israel to lay off dozens as part of global cutbacks. According to Business Insider, layoffs are coming to Microsoft’s cyber team on Monday. Microsoft announced in January that it is laying off 10,000 workers. Read more
Major TAU benefactor to consider halting investments over judicial reform. In a letter to the Tel Aviv University president, benefactor Jeremy Coller wrote he would consider resigning from his position as Vice Chairman of the Board of Trustees and reexamine his investments in the country if the judicial coup is completed. “If this is allowed to go ahead, Israel will be on the path from a respected democracy to an authoritarian state from which there are dire long-term consequences.” Read more
CTalk | Minute Media eyeing more acquisitions, becoming profitable, says CEO. “Our focus on sports puts us in a good position and we are going to finish this year with around $250 million in sales,” Asaf Peled told CTech. Watch full interview
“London has always been an attractive venue for Israeli companies.” Michal Freeman-Shor, Head of Primary Markets, Israel at the London Stock Exchange, joined CTech to discuss what the British capital can offer companies from Startup Nation. Watch full interview
Deloitte Launchpad announces 5th cohort with 10 new startups. To date, 33 companies have taken part in Deloitte Launchpad and have collectively raised $545 million. Read more
Mentor Class | CyberArk founder: “The process of building a high-tech company is full of endless failures.” Alon Cohen, founder of CyberArk, chatted with Dr. Revital Mandil-Levin, founder of Nanocarry Therapeutic, in the first session of “Mentor Class”, a series of online meetings, sponsored by Calcalist and Poalim Hi-Tech, that allows young entrepreneurs to meet with high-tech industry executives who share their experience and business and management vision. Read more
