CTECH – Israel’s Latest Technology and Innovation News
Google officially announces subsea cable to connect Europe and Asia via Israel. The laying of Google’s new cable in Israel is possible due to the normalization of diplomatic relations between Israel and the Gulf states. Read more
Riskified hits NYSE at $3.3 billion valuation. Israeli fraud management platform raised higher-than-expected $368 million in IPO thanks to high demand. Read more
Coralogix raises $55 million Series C to expand data platform. The
Israeli company has developed a stateful streaming data platform for engineering teams, providing insights and trend analysis with no reliance on storage or indexing. Read more
ICL Group launches ICL Planet Startup Hub. The chemical manufacturer has launched an incubator that will assist agritech and foodtech startups reach the market. ICL plans to invest $1 million in Protera, which produces alternative plant-based proteins. Read more
How it started: what do junior engineers make? A survey of more than 600 engineers found that electrical and computer engineers earn a monthly average of NIS 24,200 (about $7,500), with geography, seniority and alma maters playing key roles. Read more
British firm CBG joins medical device incubator MEDX Xelerator with
$20 million investment. “The global epidemic has sharpened the need to develop advanced medical technologies with emphasis on preference for remote care, minimal contact care or home hospitalization,” said Vincent Tchenguiz, owner of CBG. Read more
Investment in tech IPOs since start of 2020 achieved average return of 15%, says TASE report. According to data revealed by the Tel Aviv Stock Exchange research team, investing in all 59 tech IPOs that took place since the start of last year would have resulted in a comfortable profit. Read more
Investments are flowing into synthetic biology – the red-hot field
that will change the world. Synthetic biology seemed like science fiction until the arrival of the coronavirus vaccines. But now the money has begun to flow and companies are revealing remarkable inventions: from bacteria that will attack tumors to shoes made of cobwebs. Read more
Israeli cyber companies are eyeing the U.S government. Private cybersecurity companies that want to expand their market to the public sector can turn to Merlin Ventures for help. Read more
Cyber startup Cyolo raises $21 million Series A for Zero Trust
solution. The Israeli startup aims to accelerate the growth of cloud-based zero trust models with a platform-agnostic solution that reduces the risk to an organization’s digital assets and data. Read more
Treeverse raises $15 million Series A to leverage lakeFS solution. The Israeli startup was founded to meet the challenge of storing and processing big data and is the company behind open-source technology lakeFS. Read more
Atera raises $77 million at $500 million valuation. The Israeli company, which developed a platform for managing and preventing malfunctions in business computer systems, has raised about $100 million to date. Read more
Elevation and Atidna launching training program to integrate Arab
population in Israeli high-tech. Executives from leading companies, including Facebook, Google, WIX, and Salesforce, will take part in a unique training program aimed at integrating young people from the Arab population into the tech market. Read more
Logz.io announces strategic partnership with Microsoft for cloud-native application monitoring. “Microsoft Azure developers can now enjoy advanced observability with the click of a button,” says Logz CEO Levy. Read more
Analysis | Without proper education, other countries will reap the rewards of Israeli unicorns. If the new government will not implement tech education from an early age, it will be Ukraine, Poland, and India who will gain from Israeli ingenuity. Read more
Car importers Ungar and Livnat families to invest in auto tech companies. Ungar’s Talcar, which imports Kia, is joining Livnat’s ingenuity center, Quantum. Will allow tech companies to test their technologies with car manufacturers. Read more
Opinion | What can we learn from the tech trends of the past year? FinOps, ML Operations, DevOps Automation and Zoom have all shined over recent months, but finding convincing solutions is far from straightforward, writes Aviv Kerbel of Amiti Ventures. Read more
Fireblocks raises $310 million at $2 billion valuation. “We want to show everybody that we have a lot of money. The institutions with which we work like to cooperate with organizations that have a lot of money,” said Fireblocks CEO Michael Shaulov. Read more
Cyber insurance startup At-Bay raises $185 million at $1.35 billion
valuation. The startup, which raised $276 million to date, provides insurance for organizations and helps them counter cyber threats. Read more
IoT startup Wiliot secures $200 million investment led by SoftBank
Vision Fund 2. The Israeli company didn’t reveal its valuation, but it is estimated to be in the region of $1 billion. Read more
ActiveFence announces arrival with $100 million in funding at over
$500 million valuation. The Israeli startup’s technology identifies and tracks malicious activities online, protecting against violent extremism, disinformation, child sexual abuse, fraud, and other harms of the internet. Read more
Cisco Israel asks to distribute $175 million as dividend. This move
essentially is the transfer of more than half of the Israeli company’s assets abroad, which as of January 31 amounted to NIS 970 million. Read more
iAngels Ventures raises $55.5 million for first institutional fund.
The fund is anchored by a $25 million investment from the European Investment Fund (EIF) under Horizon 2020, the EU Framework Programme
for Research and Innovation. Read more
MeMed’s Covid-19 severity test receives its CE Mark to predict severe outcomes. The 15-minute test runs on the company’s point-of-need platform, MeMed Key. Read more
Medtech startup Nym Health raises $25 million. The Israeli company,
which developed a platform that automates and analyzes medical coding, was supported by Addition and previous investors. Read more
CYE partners with OTORIO to combat ransomware attacks with single-pane solution. The Israeli companies aim to improve the security of American pipeline operators following a string of cyberattacks. Read more
Israel’s Jacada acquired by Uniphore, an American software company. Subject to ‘customary’ closing conditions, the Jacada team, its products, and its IP will all become part of Uniphore. Read more
Redefine Meat announces ‘New-Meat’ range of products, expanding its alternative meat offerings. Kebab? Burger? Bolognese? There’s a
product for that. Read more
Opinion | Tech entrepreneurs must start with ‘Why’. “Understanding not only what you do, but also why you do it before starting a company will allow you to evolve and iterate better and faster,” writes Yoni Stein, CEO and co-founder of Laguna Health. Read more
Israeli Fintech companies raise $2.3 billion in the first half of 2021. Start-Up Nation Central’s analysis revealed that in the first six months of the year the Fintech sector raised more money than in all of 2020, “there is attention and dollars coming this way.” Read more
Propel raises $1.1 million for its public relations management
software. The platform uses data to help PR with the tech leap that
sales and business development teams underwent. Read more
Check Point surpasses market forecasts for Q2, recording $217 million profit. The Israeli cybersecurity company’s revenue was up 4% year over year to $526 million, with its cash balance reaching $4 billion. “We’ve seen a 93% increase in ransomware attacks, as Gen V attacks are now the new norm,” said CEO Gil Shwed. Read more
Spotlight | Helping the disabled regain their independence with a
flick of a wrist. 6Degrees’ wearable motion-based device allows disabled users the ability to control tablets, type, and more. Read more
Lendai lends a hand to foreign investors looking at American real
estate. The company uses three different algorithms to pair foreign
investors and local properties. Read more
The first social media for cannabis patients launched. EcoCaNN was
established by pharma company MediCane, which focuses on the R&D of medical cannabis-based pharmaceutical medicines. Read more
Opinion | Go against the flow: This is how your organization can
benefit from training young engineers. “In an age of significant human resource shortages, alongside very frequent technological changes, organizations cannot give up on the opportunity in employee training,” writes Othman Alshekh, Co-CEO at Siraj Technologies. Read more
Opinion | A generation of entrepreneurs with no glass ceilings.
Riskified’s IPO on the NYSE is another achievement of the Israeli tech ecosystem, but even more so it is a testament to the abilities of the new generation of local entrepreneurs. Read more
