CTECH: Latest Israeli Innovation & Technology News Dec. 23, 2024
Israeli fintech Morning acquired for $150 million by Italy’s TeamSystem. The purchase of the Israeli company, known for its “Green Invoice” system, will especially benefit founders Lior Wilczynski and Rami Gabai, as well as the Fortissimo fund, which invested in the company three years ago. Read more
Amazon-backed robotics startup BionicHIVE shuts down with $18M debt. The Sderot-based company blames war and lost investor confidence for its financial collapse. Read more
XTEND lands $8.8M Pentagon contract for advanced AI-powered drones. The Israeli company’s precision strike drones enhance tactical operations in urban and open-field environments. Read more
SQream CEO Ami Gal steps down after 14 years. The big data analytics company has laid off about 20 employees in recent months and currently employs about 70 people, less than half of its peak workforce. Read more
Can a tweet derail a $900 million cyber-tech deal? Paragon’s sale sparks debates over regulation, judiciary independence, and political influence. Read more
Decart raises $32M in second funding round in two months, aims to rival OpenAI and Anthropic. The Tel Aviv-based AI startup’s valuation in the Series A is estimated at $500 million, a five-fold increase from the Seed round. Read more
Paragon’s $900M sale in limbo as Defense Ministry steps in. “Contrary to reports, the Ministry of Defense did not approve the sale of Paragon. The Ministry is examining the sale procedure and its implications.” the Ministry said in a statement. Read more
Justt raises $30M Series C amid chargeback market boom. Market corrections trim valuation, but rapid growth keeps the company on track for profitability by 2027. Read more
Israeli tech’s top 10 funding rounds of 2024: Wiz sets another record. Wiz continues to dominate, while companies like Cyera and Armis prove Israeli startups are thriving despite challenges. Local companies secured 20 “mega rounds” (over $100 million) in total. Read more
2025 VC Survey | Israel will “experience a ‘baby boom’ of innovation” in 2025, says RUNI Ventures. Founder and Managing Partner Hila Rom made the remarks for CTech’s 2025 VC Survey. Read more
Chainalysis acquires Israeli blockchain security startup Hexagate in $60M deal. The Israeli company, which was founded less than three years ago, is credited with saving $1B. Read more
Vgames raises $142 million to fuel global gaming investments. The Israeli fund doubles down on gaming with its third and largest fund since 2020. Read more
Antidote Health secures $22M to advance AI telehealth and ACA plans. The digital-first healthcare provider reports achieving tens of millions in ARR within weeks of the ongoing Open Enrollment Period for U.S. Affordable Care Act plans. Read more
Bright Data countersues Musk’s X, accusing it of monopolizing public data access. The Israeli firm claims X is blocking competitors while leveraging data to bolster its AI ambitions. Read more
SeedIL Ventures outlines challenges and opportunities for VCs in 2025. The company is the latest VC firm to take part in CTech’s 2025 VC Survey – here are some predictions for the year ahead. Read more
Boomi acquires Israeli data management startup Rivery in $100M deal. The acquisition strengthens Boomi’s position in no-code data integration as Rivery’s team and technology join its ranks. Read more
Teva shares jump as its most promising drug shows exceptional trial results. Duvakitug, designed to treat colitis and Crohn’s disease, exceeded expectations and positions Teva to compete in the $28 billion global market for inflammatory bowel disease treatments. Read more
Four months after Intel shut it down, Ignite relaunches as an independent accelerator. With a new model, Ignite aims to fuel deep-tech innovation and corporate partnerships. The new program is initially supported by the Israel Innovation Authority, the Ministry of Economy, and Intel as the first client, with other corporations expected to join. Read more
To succeed in defense-tech, Israeli startups must stake their claim in the US. The acquisition of Paragon by American investment firm AE, which could reach almost $1 billion, is another testament to how geopolitical dynamics push Israeli companies to establish a stronger American presence or sell out to U.S. firms. Read more
2025 VC Survey | “I foresee one of the best decades in the history of the State of Israel.” TAU Ventures’ Nimrod Cohen has joined CTech for its 2025 VC Survey to share insights on how Israeli tech will evolve in the year ahead. Read more
Spyware startup Paragon acquired for up to $900M by investment firm AE. Paragon’s flagship product, Graphite, is a software solution capable of penetrating all popular communication applications, including WhatsApp, Telegram, and Signal, which are widely considered secure and encrypted. Read more
Promise Bio raises $8.3 million in Seed funding for its precision medicine tool for diseases. The Israeli startup’s computational platform uses epiproteomics and AI to predict patient treatment responses and support drug research and development. Read more
Israel launches its first domestically built quantum computer. Nation joins global race for quantum supremacy with a 20-qubit system. Read more
2025 VC Survey | “The impact of new American leadership on the global high-tech industry and economy remains to be fully seen.” Remagine Ventures kicks off CTech’s newest 2025 VC Survey to share insights on the last year and what it expects to see in the future. Read more
When technology becomes religion: How Silicon Valley is reshaping faith. Greg Epstein explains how tech mirrors religious hierarchies, rituals, and salvation narratives. Read more
The Wiz of GenAI security? “Lasso has the potential to be a once-in-a-decade company in cyber.” Inspired by the bold and unpredictable frontier of artificial intelligence, Elad Schulman returned to the startup world after two successful exits to launch Lasso Security, a pioneering company in AI cybersecurity. Now, he aspires to become the next Wiz. Read more
Israel launches new programs to address AI talent shortage. Initiatives aim to bring 200 global AI experts to Israeli startups within three years to sustain tech innovation. Read more
Can flattery save Big Tech from Trump’s regulatory hammer? With antitrust lawsuits looming and tariffs on the horizon, CEOs try to secure exemptions and leniency. Read more
The myth of AI emotion recognition: Science or sales pitch? Bold claims from Google and WaveForms AI reignite ethical debates, but the real question is whether the technology works at all. Read more
Tax Authority cracks down on tech stock options with new reporting rules. New digital system aims to prevent misuse of NIS 15 billion in tax benefits. Read more
