CTECH: Israel’s latest Innovation & Technology News Mar. 7, 2024
CrowdStrike acquiring cyber startup Flow Security in $200 million deal. Founded in 2021, the Israeli startup, which develops a cloud data runtime security solution, has raised just $13 million to date. Read more
Cyber unicorn Claroty raises $100 million, surpasses $100 million in ARR. The Israeli company, which raised the money through a combination of equity and credit, took its total funding to date to $635 million. Read more
Former Israeli military cyber chiefs net $33 million Series A for cloud security startup. Sweet Security leverages deep runtime analysis to identify and address cloud risks. Read more
“Looking ahead to 2024, we anticipate a continued uptick in both the volume and number of deals.” Shay Grinfeld, Managing Partner at Greenfield Partners, joined CTech to discuss global investment trends and how they impact Startup Nation. Read more
“Late-stage startups in Israel are more resilient to the current situation.” Erez Shachar, Managing Partner at Qumra Capital, spoke to CTech at Calcalist’s Mind the Tech conference in New York about the resilience of late-stage startups. Read more
Team8 raises $500 million in new funds, taking AUM to over $1 billion. Ten years since its inception, Team8 has achieved close to $2 billion in exits. Read more
Cyber asset management startup Axonius adds $200 million in Series E extension at $2.6 billion valuation. “Axonius has gone from zero revenue to exceeding $100 million in ARR in just 4.5 years, making us one of the fastest growing cybersecurity companies,” said Dean Sysman, CEO of Axonius. Read more
Utila nets $11.5 million Seed funding for institutional crypto operations platform. The Israeli startup’s platform allows institutions and developers to manage their digital assets with its non-custodial, secure, and chain-agnostic wallet. Read more
“Israeli startups have consistently demonstrated their ability to innovate, pivot, and thrive in dynamic environments.” Blumberg Capital’s Yodfat Harel Buchris joined CTech for its VC Series where she outlined how Israel can stay afloat amid war, highlighting the resilience of Startup Nation. Read more
Verbit cutting dozens of jobs in third round of layoffs. The move comes one month after company President Yair Amsterdam was named Acting CEO, replacing long-time CEO Tom Livne. Read more
Bridgewater CEO: “If Israel catches this tech wave, it can enter the most prosperous period in the country’s history.” “If you want to be great, you have to be able to look at reality for what it is, see the problems for what they are, get to the bottom of those problems, solve those problems, learn and evolve really fast,” added Nir Bar Dea. Read more
Deel acquiring PaySpace for $100 million, ARR already over $500 million. In under five years, the company has grown to 3,000 team members in more than 100 countries. Deel noted it has been EBITDA positive and generating cash for a year and a half. Read more
Bank Leumi CEO: “After the war, more than ever before, high-tech will be the engine of Israel’s reconstruction.” Hanan Friedman said at Calcalist and Bank Leumi’s Mind the Tech conference that “Israeli high-tech will become even more creative and more groundbreaking, as a result of the events we experienced. The source of Israeli innovation, which gave rise to the Startup Nation, generates from the Israeli security forces.” Read more
Israel’s Ambassador to the UN Gilad Erdan: “Israeli tech delivers no matter what.” “Today, Israel is the vanguard of civilization and we must continue to eradicate Hamas’ terror infrastructure until every Israeli can live in security. If we fail, it will inspire many more radical Jihadists and the West will be next,” added Erdan at Calcalist’s Mind the Tech conference in New York. Read more
Erel Margalit: “It’s time for a new deal for Israel and a new deal for our region.” “We need a diplomatic maneuver and a plan for the day after the war – and the day after Gaza needs to start today,” said JVP Founder & Executive Chairman, Erel Margalit. Read more
NYC mayor: “Technology has normalized anti-Semitism, it needs to be re-examined.” “We must use our skills to change direction. Not just for profit, but for people,” NYC mayor Eric Adams said at Calcalist and Bank Leumi’s Mind the Tech conference in New York. “No one can do that better than the people in this room.” Read more
Google Israel Managing Director: “It’s crucial we seize the AI momentum.” “The excitement and drive I see in founders’ reactions is inspiring, and it drives my optimistic view of Israeli tech,” added Barak Regev at Calcalist and Bank Leumi’s Mind the Tech conference in New York. Read more
Don’t short Israel’s stock. “Israel’s stock has suffered and will continue to suffer painful blows, but we advise you not to ‘short’ it. Because we will overcome. We Shall Overcome. Investing in Israel, especially now, is a smart investment that will bear wonderful fruits,” said Calcalist Publisher Yoel Esteron at the start of the Mind the Tech conference in New York. Read more
| “Israel is losing the war on TikTok. Palestinians have been more active for many, many years.” “When Israelis compete about whose suffering is greater, they lose,” added Dr. Lilly Boxman-Shabtai, a Hebrew University researcher of digital culture who has examined how the Israeli-Palestinian conflict is represented on TikTok. Read more
“The ultimate goal Nvidia is working towards is to create AI factories that turn data into knowledge.” “We have seen in the war how artificial intelligence can enable real-time decision-making and be very significant,” added Nati Amsterdam, General Manager, AI, at Nvidia and Senior Country Director at Nvidia Israel, who set up Nvidia’s AI operations in the country back in 2016. Read more Yaron Galai stepping down as Outbrain CEO after 17 years amid disappointing financial results. The co-founder will continue as Chairman of the Board and advisor to the company, with David Kostman, who joined as co-CEO in 2017, to assume the role of sole CEO. Read more
Apple’s U-turn: After investing billions, Apple gives up on autonomous car in favor of AI. While Apple tried to reach the next breakthrough through autonomous cars, it missed the breakthrough that came through AI. Now it has decided to close one of the most ambitious projects in its history and divert resources to the hottest field in tech. Read more
“There are many, many opportunities in the energy sector, and every woman can contribute to it in her own way.” The director of the community Women in Energy, Roni Elhalal Givon, decided that it was time to break through the male-dominated energy sector and established a community to encourage women to join one of the most important and influential fields in the world. Read more |
Hamilton Lane co-CEO: “Now is the best time to invest in Israel.” “The only real essential market for venture capital, apart from the USA, is in Israel, and those who do not invest in it should be ashamed,” added Juan Delgado-Moreira, co-CEO of the alternative investment management giant. Read more
Israeli AI leaders AI21 Labs, Lightricks, D-ID launch new products for red-hot GenAI market. The trio of Israeli companies have each announced products and services that will boost the country’s presence in the growing sector. Read more
HR unicorn Deel acquires people development platform Zavvy for around $20 million. The German startup’s embedded AI technology makes suggestions for managers to assess team performance and create personalized career development plans. Read more
“High-tech’s resilience is not a sectoral interest – it’s a national mission.” Hila Rom, Managing Partner at RUNI Ventures, joined CTech for its VC series to assess how Startup Nation may recover from wartime and economic turmoil. Read more
The Israeli researcher leading the way in cultured meat innovation. The Technion’s Prof. Shulamit Levenberg is the Co-Founder and Chief Scientific Advisor at Aleph Farms, the first company in the world to receive approval to market cultured steak. This is only one of her ventures, and not even close to the most ambitious. Read more
