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CTECH Israel Technology News

 

Exclusive | Israeli company Spot to be sold for $500 million. The cloud services company has previously raised a total of $52 million. Read more

Interview | DC economic attache safeguarding Israeli interests amid Washington mayhem. Yifat Alon Perel describes dystopia playing out in America’s capital and breaks down the unique responsibilities of the DC trade mission. Read more

Cybersecurity startup foundry Team8 launches VC arm, raises $104 million. Team8 Capital will lead seed, series A, and series B rounds for startups working in the fields of data, artificial intelligence, cybersecurity, and enterprise technologies. Read more

Study: Covid-19 drove demand for food delivery, increased cases of online fraud. The study found that online fraud in the restaurant sector increased by 32% during the coronavirus lockdown. Read more

Police detain former Frutarom executives suspected of bribing officials in Russia, Ukraine. The Israel Securities Exchange and the Israeli police have raided the offices of the flavor and fragrance company, which was acquired by IFF in 2018. Read more

South Korea’s K-Startup Grand Challenge seeks applications from Israeli startups. The K-Startup Grand Challenge is a startup accelerator program conducted and financed by the South Korean government to support foreign startups that want to enter the Korean market. Read more

Online used car marketplace Vroom triples its aim for Nasdaq IPO to
$318 million. The company develops an online direct-to-consumer platform that offers low-mileage reconditioned vehicles. Read more

National Grid, JVP back data discovery startup 1touch in $14 million Series A round. 1touch develops an automated AI data discovery, mapping and tracking system that uses natural language processing, and deep network analysis to let businesses, government agencies, and corporations securely maintain private data on civilians. Read more

Survey finds widespread security negligence among work from home employees. 77% of remote employees use unmanaged personal devices to access corporate systems, says CyberArk. Read more

Competitive intelligence startup Watchful raises $3 million from Vertex Ventures. Watchful’s platform focuses on uncovering competitors’ product strategy by providing detailed information on the changes that their applications are undergoing. Read more

 

 

National Instruments acquires Israel-based data analytics startup OptimalPlus for $365 million. OptimalPlus develops AI tools for the automotive, semiconductor, and electronics industries that provide real-time product analytics and extract insights from data across the entire supply chain. Read more

 

Exclusive | MeMed receives regulatory green light for test that can greatly reduce antibiotics prescriptions. Israel-based company tests the immune system’s reaction to infection rather than the infection itself. Read more

Interview | Viola Ventures is seeking technologies that combine AI and fundamental scientific disciplines. After investing in Immunai, Zvika Orron is hungry for more of the same formula. Read more

Public transportation payment apps set to go into use on June 25. Apps offer the ability to limit payments to the actual rides completed instead of charging a pre-paid card every month. Read more

Opinion | Covid-19 does not have to mean an untimely demise for young Israeli startups. If Israel wants its growth engine back on track, it is going to have to be far more creative and generous. Read more

Opinion | 6 principles to prevent misuse of network-based tracking in the war on Covid-19. The software discloses substantial details about one’s habits and routines, hence these systems need strict governance as to when and how they should be used. Read more

Canadian billionaire Sylvan Adams alleges he fell victim to a real estate sting in Tel Aviv. Adams claims Israeli contractor Ran Ben Bassat overcharged him some $10 million for construction work on his Tel Aviv coastline luxury penthouse. Read more

Tomer Cohen appointed CEO of BuyMe. Cohen is a co-founder and previous CEO of Jobit, a Tel Aviv-based employment agency and previously served as Chief of Staff to Israel’s Ambassador to the United Nations. Read more

Playtika recruits 70 new employees, launches coffee shop for the company’s workers. Playtika develops free-to-play applications and online games and reports over 27 million monthly active users. Read more

Video | Israel Aerospace Industries showcases ballistic strike missile. The trial, held in the open sea, was designed and performed under Covid-19 restrictions and demonstrated the capabilities of the advanced system to customers. Watch video

Report: Iranian cyberattack aimed to poison Israelis by upping water chlorine levels. According to the Financial Times, the cyberattack could have triggered fail-safes that would have left tens of thousands of civilians parched in the middle of a heatwave. Read more

Interview | After containing Covid-19, South Korea primed for Israeli innovation. Israel’s economic attache to Seoul says the country is well placed to make a quick recovery and provide an outlet for Israeli tech. Read more

Israeli tech to help Indian hospitals diagnose coronavirus. Zebra-Med’s software offers a faster alternative for detection of Covid-19 when PCR testing is unavailable or delayed. Read more

Israeli military outpost pilots energy-saving solution for heating shower water. The heat recovery from the existing generators allows hot water to be supplied without the burning of additional fuels. It saves about 36,000 liters of diesel fuel per year, and reduces pollutant emissions of about 112 tons of carbon dioxide a year. Read more

Opinion | Pandemic planning: Finance and IT must align to maintain business continuity. Three things companies can do to ensure Finance and IT are on the same page. Read more

Covid-19 is driving the used car market online. Companies like VRoom and Caravana have used the virus-imposed downtime to entrench their position. Read more

Group 11 joins Papaya Global as a strategic investor. “In spite of the world crisis, Papaya has maintained its exceptional growth,” says Group 11’s Dovi Frances. Read more

Teddy Sagi increases holdings in online privacy company Kape by buying options from managers. Key team members sell £13.3 million in stock after taking the company from $40 million to $400 million market cap.
Read more

We need to protect ourselves against ‘cyber pandemic’ says Check Point CEO. Check Point founder and CEO Gil Shwed cautions about new reality and access for hackers as part of ‘The New Tomorrow’ online summit, co-hosted by the Israeli-American Council and the Peres Center for Peace and Innovation, which kicked off Sunday evening headlined by Shwed and entrepreneur Dan Ariely. Read more

Four baby startups that prove crisis can also serve as an opportunity.
With many companies shutting down or cutting back on staff, Calclaist spoke to four entrepreneurs who decided to start a new business amid Covid-19. Read more

Interview | Is mobile the future of gaming? Twitter’s Head of Gaming certainly thinks so. Rishi Chadha gives Calcalist an inside look into what the social media giant is doing in the field of online games and where he thinks it is heading next. Read more


Exclusive | The new Israeli state-owned company developing secret rocket technology. ‘Tomer’ is meant to act as a center of national expertise in the field of rocket propulsion, including the tech behind the Arrow missile and Shavit launcher. Read more


Dozens of Guesty employees to stay on unpaid leave. In March, Calcalist reported the company had put around 10% of its employees on unpaid leave due to the coronavirus crisis. Read more


“Israel is delusional in thinking that the Covid-19 crisis is over.”
Veteran fund manager Gili Raanan offers a reminder that “when it rains in New York, everyone gets wet.” Read more


Immediate threat: 80 small tech companies in danger of closing within three months. A survey conducted among 414 companies by the Israel Innovation Authority and IATI indicates that investors have stopped fundraising processes and that sales of a quarter of the companies have fallen by more than half since the Covid-19 outbreak. Read more  

Opinion | From Earth to Mars, new agtech developments bring new regulatory hurdles. As farming IoT devices become the new norm, new regulations are required to protect farmers’ trade secrets while allowing them to migrate between technologies. Read more  

Moran Bar Appointed Chief of Staff for Israel’s Minister of Science and Technology. Bar served as the CEO of online Israeli tech magazine GeekTime since its establishment in 2009. Read more  

Interview | Zeekit’s virtual fitting rooms replaced Asos’s fashion shoots during Covid-19 crisis. While the clothing industry suffered a major setback, adoption of the augmented reality software saw a decade’s worth of progress in just three months. Read more  

Interview | Japan is in need of a digital upheaval, Israeli tech can help. The economic situation in Japan is affecting financial relations with Israel, but according to Noa Asher, economic attache to Tokyo, it also presents many opportunities. Read more

Exclusive | Israeli cyber startup Senpai helped Malaysia’s corrupt leader spy on opposition. Documents submitted to an Israeli court revealed Senpai’s methods of operation and its ties to questionable regimes, including its $1.5 million deal to supply Malaysia’s intelligence agency with surveillance tools to be used on civilians. Read more

Analysis | The Iranian cyber threat can no longer be underestimated. Iran may not be a cyber superpower, but it has been making a concentrated effort over recent years to strengthen its position in the field. The aid from China and Russia, the loyalty of hundreds of volunteer hackers, and its audacity make it an enemy that should be reckoned with. Read more

 

 
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