CTECH: Latest Israeli Innovation & Technology News Aug. 7, 2024
Placer.ai raises $75M at $1.5B valuation, reaches $100M in ARR. The foot traffic analytics platform increased its valuation by 50% after tripling its ARR and quadrupling its customer base. Read more
Armis tops $200M in ARR, doubling revenue in less than 18 months. The Israeli startup has expanded its capabilities and offerings in recent months with the back to back acquisitions of CTCI and Silk Security. Read more
Mobileye founder Shashua acquires $10.4M-worth of shares after stock crashes. The autonomous vehicle systems manufacturer’s market cap is at an all-time low of $12.24 billion after its shares fell by almost 50% in the past three months, and by nearly 65% since the start of the year. Read more
Grounded: Billionaires duped out of millions in private jet sting. A long list of Israel’s wealthiest and top business people each deposited a million shekels with Yaniv Salmon in exchange for the opportunity to fly abroad on a private plane at any time. Now it turns out that Salmon accumulated huge debts and allegedly used the money deposited in his hands to cover them, leaving the billionaires without a plane and without their money. Read more
Japanese investments in Israeli tech fall by a third amid war. Of the $317 million invested by Japanese firms in Israel in the first half of 2024, $263 million were follow-on investments. Read more
Khouloud Ayuti and Saja Kabaha spoke to CTech about Seeratech – the first women-led Arabic podcast about Arab tech leaders in Israel which they co-host.
“We constantly need to prove that we’re ‘good Arabs;’ the tech industry should be better.” Khouloud Ayuti and Saja Kabaha spoke to CTech about Seeratech – the first women-led Arabic podcast about Arab tech leaders in Israel which they co-host. They discussed the importance of amplifying voices from their community in the industry and navigating unique challenges as Arabs in tech amid the ongoing war.
Soldiers are getting an XR boost for training on the battleground. Combatica’s next-gen XR training tool offers the best glimpse yet at how virtual reality will change our lives. Read more
UN cybercrime treaty sparks global concern over privacy rights. Critics warn that new surveillance powers could threaten freedom of expression and human rights worldwide. Read more
TikTok’s Nazi problem: How extremists are thriving on the platform. A new report unveils the tactics and reach of extremist content that thrives on TikTok. Read more
Opinion | Healthcare tech: A sleeping giant in the high-tech ecosystem. Given that the continuing conflict, and the higher risk profile of Israel, will undoubtedly continue to harm investment activity in healthcare, Yoav Fisher, Head of Technological Innovation and Digital Health at HealthIL, writes it may be time to consider adjusting governmental programs to face current challenges and maintain a competitive edge for the future. Read more
“In the best case, hundreds of employees at Intel Israel will be laid off; in the worst case, it could be 1,500.” Intel Israel faces potential layoffs of up to 1,500 employees as part of the company’s global workforce reduction plan. The cuts come amid Intel’s broader strategy to optimize operations and address disappointing financial results. Read more
Island co-founder Dan Amiga: “War or no war, good companies will succeed.” Island’s rapid growth during a tumultuous period underscores Dan Amiga’s belief that Israeli high-tech companies are built to withstand adversity. The company not only raised significant capital but also continued to expand its workforce and customer base. Read more
Outbrain’s $1 billion Teads deal: The latest in Israel’s high-stakes acquisition spree. Israeli companies are increasingly making daring moves on the global stage, with Outbrain’s acquisition of Teads being a prime example of this ambitious trend. Read more
Pliops merger with Kalray falls through after stock price collapses. The Israeli startup, which develops acceleration solutions for AI and storage servers in data centers, was set to merge with Kalray, a French provider of advanced data processing solutions. However, the deal will not go ahead after Kalray lost more than half of its value over the past two months. Read more
Teva’s vision 2025: Building on momentum for future market leadership. Richard Francis’ strategic plan aims to transform Teva into a powerhouse of growth and innovation. Read more
Outbrain acquires competitor Teads in $1 billion deal. The merger will create a major player in the online advertising space, presenting significant competition to Israeli company Taboola, with which Outbrain attempted to merge about five years ago. Read more
Intel’s mass layoffs: A desperate move that might not be enough. Cutting thousands of jobs may offer temporary relief, but Intel’s long-term outlook remains shaky. Read more
Viola Credit closes first $600 million of new $1.5 billion fund. The firm’s third fund will focus on offering asset-backed credit to global fintech companies. Read more
SightBit appoints Etan Hadaya as new CEO, replacing founder who fell in Gaza. Hadaya takes the reins of a company founded by Adam Bismut, who fell while fighting in the Gaza Strip. Read more
July 2024 in Israeli tech funding: $703 million in 28 deals. Local startups more than doubled the amount raised during July 2023, when funding hit a seven-year monthly low of $315 million. Read more
