CTECH: Latest Israeli Innovation & Technology News Dec. 9, 2024
eToro sets sights on US IPO in 2025. According to Bloomberg, the trading platform, valued at $3.5 billion in its last funding round, is exploring a public offering amid growing global expansion and crypto market momentum. Read more
Snyk surpasses $300M in ARR to reach significant growth milestone. “Beyond simply an impressive revenue achievement, this also demonstrates that both our developer security vision and Snyk as a business have sustainable longevity for our customers and stakeholders over the long haul,” said CEO Peter McKay. Read more
$1.5 million grants up for grabs in U.S.-Israel cybersecurity collaboration. The goal of BIRD Cyber is to foster strategic partnerships to improve the cyber resilience of both countries. Read more
How dual-listed companies boost profits without earning more. The creative accounting tricks Israeli firms use to inflate earnings. Read more
Hello, Neumann: Aussie serial investor takes Israel by storm. Evan Neumann left Max Stock, a nationwide chain of discount stores, with an impressive exit and rolled through investments in cultured milk and high-tech until he settled at the real estate company Aspen Group. In an exclusive interview, he explains why he’s not afraid of high interest rates, what makes him feel at home in Israel, and why he loves frenzied investing, which looks like a shopping spree at a Max store. Read more
Thoma Bravo cashes in with $372M sale of CyberArk shares after stock surge. Private equity giant trims its stake in Israeli cybersecurity company, capitalizing on a sharp rise in share value since the Venafi acquisition, which resulted in Thoma Bravo receiving CyberArk shares. Read more
Interim Intel co-CEO: “We want to be the Western provider of leading-edge silicon.” “We’ve made a lot of investment from a capital perspective in Foundry, and we need to start seeing some incremental [return on invested capital],” new co-CEO David Zinsner added, speaking two days following the shock departure of outgoing CEO Pat Gelsinger. Read more
SolarEdge appoints new CEO amid ongoing restructuring efforts. Shuki Nir, who previously served as the company’s CMO, steps into leadership as the company battles declining revenue and operational shifts. Read more
SentinelOne shares plummet as it faces competitive headwinds despite revenue growth. Cybersecurity firm beats revenue expectations but struggles to maintain profitability amidst fierce competition from industry giants. Read more
Tech boom sees six new Israelis join billionaires list. Israel’s billionaire count rises to 32, with a total fortune of around $86B according to UBS, driven by tech pioneers and global wealth growth. Read more
EnSights raises $10M for AI-powered clean energy optimization platform. The Israeli startup has developed an energy optimization and management platform that scales business operations while aiming to maximize the financial and energy performance of renewable assets. Read more
Tenable in talks to acquire cyber startup Vulcan for hundreds of millions. Vulcan, which develops a platform for managing vulnerability risks, has raised a total of $55 million to date. Read more
D-Fend raises $31 million to combat rising drone threats. The Israeli startup’s flagship technology, EnforceAir, employs RF cyber-takeover techniques to safely neutralize rogue drones without collateral damage or operational disruption. Read more
Ibex Investors closes its first secondary fund, raising $40M to expand investments in Israel. “We believe Israel will be among the best places in the world to invest over the next 10 years,” said Justin Borus, Founder and Chief Investment Officer. Read more
Amnon Shashua’s new AI venture aims to push the limits of machine learning. Founded by Shashua and several other leading minds in the field, new startup AAI believes its Artificial Expert Intelligence (AEI) can deliver more effective solutions than current AI platforms. Read more
Ex-Gett CEO Dave Waiser raises $46M for Accumulator to help founders navigate illiquid wealth. The equity pooling platform, already valued at $140M, aims to transform how founders access liquidity. Read more
Who will be Intel’s next CEO? Srouji, Murphy, and Tan lead the pack. The Apple, Marvell, and Cadence executives are among the leading candidates to replace Pat Gelsinger following his shock departure earlier this week. Read more
Can Intel recover? Gelsinger’s exit sparks speculation and uncertainty. In a volatile chip market, Intel’s survival hinges on finding the right leadership fast. Read more
Capitolis acquires Capitalab for $46M to expand derivatives optimization offering. The acquisition by the fintech unicorn comes one week after it announced a $20 million funding round from leading global financial institutions Citi, Morgan Stanley, State Street, and UBS. Read more
FireDome nets $4.5 million to transform autonomous wildfire defense. The company was inspired by the country’s Iron Dome missile defense system to apply the same technology to autonomously detect and suppress wildfires. Read more
Skai laying off 80 employees as company refocuses strategy. In 2022, the company had already reduced its workforce as part of a merger with Signals Analytics. Before the latest layoffs, Skai employed about 550 people. Read more
Droxi secures $21M Series A to ease doctors’ administrative burdens. The Israeli startup’s platform simplifies operations, helping medical professionals to focus on patient care. Read more
Cloud security startup Upwind nets $100M in Series A, triples valuation to $900M. The Israeli company, founded by former Spot.io executives, plans to accelerate its global expansion plans and enhance its cloud security platform. Read more
What drove Pat Gelsinger to step down as Intel CEO? Inside the tumultuous tenure. Missteps, delays, and strained partnerships defined his three-year journey. Read more
Shin Bet exposes Iran’s cyber plot: 200 attacks aimed at assassinating Israeli officials. Phishing campaign aims to gather critical personal data for large-scale killings of top figures in Israel. Read more
Former NBA player Omri Casspi completes $60M raise for Swish Ventures’ second Seed fund. The fund plans to invest in around 10 startups, with deals ranging from $5 to $7 million per investment. Among the fund’s investors are Sequoia, Israeli and American institutional investors, and serial entrepreneurs. Casspi’s portfolio includes the likes of PointFive, Eon, and Upwind. Read more
Former IDF chief Aviv Kohavi joins VC Awz as deep-tech market booms. The Israeli-Canadian fund manages approximately 2.5 billion shekels and has invested in the likes of Israeli cyber unicorn Pentera and the quantum computing startup Classiq. Read more
