CTECH – Israel Technology News
Israeli court documents reveal worrying details on Teva’s decision to acquire Mexico’s Rimsa. Classified documents show that Teva’s board of directors didn’t even dedicate a full meeting to the acquisition. Read more
Lemonade files pre-IPO papers to SEC, with lots of unknowns.
The number of shares to be offered and the price range for the proposed offering have not yet been determined. “We have a history of losses” states prospectus. Read more
Israel to cease using mobile phone tracking to monitor Covid-19 patients. Shin Bet head Nadav Argaman says his organization was uncomfortable with the task of tracing innocent civilians. Read more
Delivery boom helps Gett avoid Covid-19 calamity. Gett managed to meet its goals despite the pandemic mainly due to the fact that it serves businesses and corporations. Read more
Opinion | As the pandemic continues to rage, patents should be protected without hampering innovation. Pioneers, who are navigating fragmented intellectual property laws across global markets, must be astute if they are to benefit from the significant commercial and geopolitical value of Covid-19-related ideas and products. Read more
Pitango raises $175 million for new fund focusing on seed and early-stage companies. The company said it is looking for entrepreneurs seeking to make a change in the world with their tech. Read more
Birthright pushes on with lucrative Israel internship program despite Covid-19. Participants hailing from ivy-league universities will complete their placements this summer virtually. Acclaimed behavioral economist Dan Ariely offered them career advice. Read more
IAI signs $350 million Special Mission Aircraft related deal with major European country. Israel Aerospace Industries has already delivered Special Mission Aircraft to the Israel Defense Forces (IDF) and numerous countries worldwide. Read more
The sun’s rays can electrify plants into producing renewable energy, study finds. A recent Tel Aviv University study seems to make the impossible possible, proving that any plant can be transformed into an electrical source, producing a variety of materials that can revolutionize the global economy—from hydrogen production as fuel to clean ammonia production to replace the pollutants in the agriculture industry. Read more
Israel Aerospace Industries develops model to predict the medical progression of Covid-19 patients. The predictive capabilities of the model can alert medical staff on the possible deterioration in the patient’s condition, thus enhancing patient care and flagging the cases with higher chances of medical escalation. Read more
Analysis | The Australian exchange where Israeli tech companies go to die. In these post-coronavirus times of shrinking valuations, companies cannot be too picky but heading for an IPO at any cost could stain a company’s reputation for years. Read more
Israel-based Otonomo signs data-sharing collaboration with Fiat Chrysler. Otonomo develops ways to monetize data collected by smart cars, acting as a middleman between carmakers and third-party companies that offer automotive-related services. Read more
Israel’s securities and innovation authorities team up to launch ‘Data Sandbox’. The initiative is set to promote the activity of fintech companies in Israel as part of the ISA’s strategy to modernize the Israeli stock market. Read more
Moving on: Cisco sells Intucell operations to HCL for 10% of its buying price. Cisco acquired Raanana-based Intucell in 2013 for $475 million in what was considered a very successful exit for its founders and its main backers. Read more
Opinion | After decades of being unappreciated, the pandemic could give distance learning a new lease on life. Covid-19 has brought the option of remote learning to the forefront of child and adult education alike, but whether it will rise to the occasion and become the new norm or be dragged down by ill-prepared professors and over distracted students is yet to be seen. Read more
Sweden partners with Israel to drive innovative R&D projects. The initiative is open to startups at all stages, multinational corporations that operate in both Sweden and Israel, large companies, research institutions, and academics. Read more
Israeli company Matter selected to help Skoda battle coronavirus.
Matter utilizes 3D technology to create interactive digital property tours, serving commercial and residential real estate as well as the hospitality and travel business. Read more
Israel’s Holon Institute of Technology launches medtech bachelor’s degree program. The program will focus on digital technologies for medicine, including telemedicine, smart medical systems, and big data. Read more
Salesforce Ventures joins vehicle cybersecurity startup Upstream’s series B round. “Both Salesforce and Upstream have jointly recognized the power in automotive data and the capabilities that it unlocks,” said CEO Yoav Levy. Read more
Alon Bar-Shany to leave HP Indigo after 25 years. HP has long been attempting to carry out a restructuring but Bar-Shany has vehemently opposed it, said a person familiar with the move. Read more
Nasdaq-listed NetApp to incorporate technology by Israeli startup Iguazio. Iguazio offers data management services and artificial intelligence tools designed to improve the performance, security, and scalability of machine learning applications. Read more
HP’s demand to fire hundreds of employees led to departure of Indigo’s GM. Alon Bar-Shany believed Hewlett-Packard’s plan for widescale cutbacks was unjust. Read more
GM’s ‘people-first’ approach was what made Indigo successful, says founder. A day after news broke of longtime general manager, Alon Bar-Shany’s resignation, the man who first recruited him sung his praises. Read more
Interview | Football legend Del Piero teams up with Israel’s Stads to revolutionize sports advertising. Stads has created a platform that allows advertisers and clubs to maximize advertising boards. Read more
DiplomaTech | Global pandemic and severe local drought spell opportunities for Israeli tech companies in Poland. Economic attache Sarah-Ann Madi believes the untapped potential of the Polish market makes it worthwhile the effort for Israeli businesses. Read more
Insurtech startup Planck raises $16 million in series B round. Planck develops software that enables insurance companies to use publicly available data, image processing, and company reports to analyze and perform risk assessments of businesses. Read more
Vital signs monitoring startup Binah.ai raises $13.5 million.
Binah.ai’s technology analyzes a video of the upper cheek skin region of a human face to extract a large set of vital signs and mental stress measurements. Read more
Israel’s DOORe opens the door for a key-less future. Using DOORe, a homeowner can authorize anyone whose fingerprint was previously scanned to open the front door at a specific time. It is managed using a smartphone app on Android or iOS operating systems. Read more
United Airlines to resume direct flights between Tel Aviv and San Francisco in July. Three weekly flights to provide access back and forth to Silicon Valley, company says it will ensure highest standards of cleanliness. Read more
Israeli universities drop in SQ annual ranking. Technion, ranked in 291st place, says survey data was faulty, accuses the government of not investing enough in research infrastructure. Read more
Insight Partners leads $8 million investment in Israeli emailing platform Spike. Spike has developed a mobile application that puts existing e-mails into a multimedia mobile messaging, chat-like interface enhanced with voice and video calls. Read more
IAI to acquire drone manufacturer Bluebird. Bluebird specializes in making relatively small unmanned aerial vehicles including a model that can take off and land vertically. Read more
BIRD Foundation to offer $1 million for winning security technology.
The program funds up to 50% of the combined project budget, up to $1 million per project, and is repaid only if the project achieves revenue. Read more
GitLab acquires fuzz testing startup Fuzzit. Following the acquisition, GitLab will begin expanding its operations in Israel. Read more
Vitruvian Partners backs Global-e in $60 million round amid Covid-19 e-commerce surge. The new raise comes on the heels of a significant increase in global online commerce, in part because of the coronavirus pandemic, which led many companies to up their online sales activities. Read moreEhud Barak’s cannabis company InterCure raises $11 million in private placement.Following the announcement, InterCure’s stock went up 7.76% by market close, Wednesday. Read moreGreen concrete startup ECOncrete raises $5 million.
Tel Aviv-based ECOncrete manufactures concrete structures that accelerate the growth of marine plants and animals, including fish, coral reefs, seaweed, and sea anemone. Read moreFormer CEO Moshe Yanay invests in data storage company Infinidat.
Yanay founded Infinidat in 2011 and served as CEO until May this year, when he announced that he will be stepping down to focus on the technological aspects of the company’s product. Read moreIsraeli ag-tech startup Consumer Physics unveils in-field corn moisture analysis technology.
Consumer Physics’ user-friendly device replaces lengthy, expensive, and complicated processes that currently require the collection of several corn cobs from the field, which are then sent to plants or labs. Read moreIsraeli cannabis company InnoCan raises $3.7 million.
InnoCan focuses on the development of several drug delivery platforms combining cannabidiol (“CBD”) with other pharmaceutical ingredients. Read more
Sapiens pays $250,000 in Bitcoin to hackers who took over its computers. The Israel-based software company has not alerted the exchange authorities in the U.S. or Israel. Read more
Cancellation of Birthright-Taglit, Masa heritage trips to cost Israeli economy $200 million. 60,000 Jewish youths from around the world were scheduled to travel to Israel during spring and summer to attend heritage trips that are now being called off due to Covid-19. Israel’s Ministry of Interior approved special visas to people attending Masa’s long term programs but they will not be exempt from the 14-day mandatory quarantine. Read more
Instead of funding rounds, startups face harsh reality of debts and loans thanks to Covid-19. Since the coronavirus pandemic started, Israeli startups have taken out over $140 million in bank loans, mostly to avoid down rounds and increase their funding runway. Read more
Covid-19 flooded the tech sector with talent. The coronavirus crisis fundamentally changed the tech industry pushing some companies to make a strategic decision to recruit employees simply because they now can. Read more
Insight Partners to acquire senior Israeli venture fund Gemini V for
$500 million. Gemini is one of Israel’s most senior venture firms, active since 1993. The firm has raised five funds to date, the last one raised $150 million in 2008. Read more
Green Light: EU grants Panaxia certification for exporting medical cannabis. The EU-GMP certification granted to Panaxia is wider in scope than any previously granted to Israeli companies active in the European market. Read more
Leviev divorce saga takes another ugly turn. Billionaire businessman Lev Leviev’s son Shalom was accused of physical, emotional, and sexual violence by his ex-wife during court proceedings. Read more
DiplomaTech | Italians want Israeli tech’s help to catch up after
Covid-19 catastrophe, says trade attaché to Milan. Even Silicon Valley takes a back seat to Israeli tech’s reputation in Italy. Read more
MyHeritage unveils photo enhancer to bring old blurry photos into sharp focus. The new feature is available on the company’s website and free mobile app for iOS and Android. Read more
Taiwanese tech firm i2i to invest up to $70 million in Israeli startups through new program. Thus far, 25 Israeli startups have been selected for the program, eight of which have already signed cooperation agreements to pilot their technologies and products. Read more
Interview | Israel’s ambassador to Wellington describes life in corona-free and jubilant New Zealand. “People are simply happy. After
75 days of being closed in their homes, now is the time to let loose,”
says Ambassador Itzhak Gerberg. Read more
