CTECH: Latest Innovation & Technology News Sept. 11, 2024
Cyber unicorn Checkmarx hits the market with $2.5 billion price tag. Four and a half years after acquiring the Israeli cyber firm, Hellman & Friedman is looking to make its exit. Read more
Andreessen Horowitz steps up Israeli investments as local funds struggle to raise capital. Facing a downturn, Israeli VCs take a back seat while U.S. giants dominate the startup scene. Read more
Quantum Source secures $50 million Series A to advance photonic quantum computers. The Israeli startup targets breakthroughs in quantum computing with its photonic approach and growing investor confidence. Read more
Eyal Waldman joins Cato Networks’ Board as cyber unicorn prepares for 2025 IPO. Cybersecurity firm taps Mellanox founder ahead of a potential $3 billion Wall Street debut. Read more
Mapping Israel’s Web3 ecosystem: The startups leading the decentralized revolution. “Based on current trends and the momentum in the market, it’s expected that over the next 12 to 24 months, at least 20 Israeli Web3 startups will successfully raise Series A and B funding rounds,” said Tomer Niv, crypto and Web3 Investor at Entrée Capital. Read more
Mobileye drops lidar development, axes 100 jobs to save $60M. Cost-saving measures and evolving technologies force the autonomous leader to rethink sensor strategies. Read more
“We closed a deal with a large client, but they had questions about what happens if Israel no longer exists.” The war’s impact has pushed Israeli startups to expand internationally to navigate the challenges of the ongoing conflict. Read more
One Zero embarks on further layoffs as Generali halts Italian digital bank launch. One Zero lost around $170 million between 2022 and 2023 due to establishment costs as well as ongoing expenses such as salaries and marketing. The bank still expects to reach profitability by the end of 2025. Read more
Odigos raises $13 million to simplify distributed tracing. The company helps customers to monitor data requests as they flow through their system, without requiring code changes or impacting performance. Read more
Opinion | From a cost burden to an economic growth engine: Building the next generation of medical innovation. “Healthcare could become a powerful growth engine, generating new opportunities, serving as a source of hope, and connecting the periphery to Israel’s broader innovation ecosystem,” says CEO of Sheba Impact Avner Halperin. Read more
Iranian-born Israeli cyber pioneer Sanaz Yashar nets $40M for Zafran Security. Zafran, which has developed a risk and mitigation platform to pinpoint exploitable threats in organizations, has raised over $70 million in the past six months, with Sequoia Capital leading the latest round. Read more
Salesforce’s $2B Own buyout and Tower’s India move show Israel’s strength—and its vulnerabilities. Why Israeli high-tech’s global success may come at a cost to the local economy. Read more
Israel turns to tax breaks to lure back foreign high-tech investors. As investments drop, the government plans to roll out new tax incentives to reinvigorate foreign interest. Read more
War’s impact pushes Israeli startups to enhance global presence. Israeli tech firms are expanding internationally to navigate the challenges of the ongoing conflict. Read more
Boarding Pass | Israel’s MNDL Bio is taking on a $116 billion market. The company has raised a total of $2 million for its AI-powered gene optimization platform. Read more
Intel races against time to complete layoffs amid financial losses. Failed Broadcom chip test threatens foundry plan as Intel looks to 2027. Read more
Who’s who at Mind the Tech London 2024 Conference. The best of Israel and the UK’s tech ecosystems will come together on September 17th at Calcalist and Bank Leumi’s 6th annual conference in the British capital to explore emerging technologies, address global challenges from climate change to cybersecurity, and highlight opportunities for global collaboration. Read more
Sedric raises $18.5M Series A for AI-based fintech compliance platform. The Israeli startup helps compliance officers with a holistic view of their customer touchpoints across multiple channels to flag deviations from their established compliance policies and guidelines. Read more
Ilya Sutskever: “Our first product will be the safe superintelligence.” The former OpenAI chief scientist’s new startup aims to create superintelligent systems that prioritize safety. Read more
Hypernative raises $16 million Series A to make crypto safer. The Israeli startup’s system has helped to save more than $100 million worth of customer funds to date. Read more
