CTECH Latest Israeli Innovation and Technology News Aug. 18, 2022
DriveNets secures $262 million Series C at over $2.5 billion valuation. The Israeli company offers communications service providers (CSPs) and cloud providers a new way to build networks, substantially growing their profitability by changing their technological and economic models. Read more
HR management platform HiBob raises $150 million Series D at $2.45 billion valuation. The Israeli startup’s latest funding round comes just 10 months after it raised a $150 million Series C. Read more
eToro acquires options trading platform Gatsby for $50 million. Gatsby is a commission-free options and stock trading app focused on a younger demographic and will help eToro diversify its offering to U.S. users. Read more
In a world of Ambient Computing, Israel remains static. CTech spoke to Twang Founder and CEO Navot Volk about the growing market of Ambient Computing, where it is going, and why Israeli consumers still cannot benefit from it. Read more
Pagaya CEO: “We get excited by rising revenue, not the share price.” The Israeli fintech company, which saw its value skyrocket over the past month, expects its total revenue in 2022 to range between $700 million and $725 million and its adjusted EBITDA for the year to range between negative $20 million and positive $10 million. Read more
“I’ve had bad experiences with investors I’m sure wouldn’t have happened if I wasn’t a woman.” As she prepares to break into the NY market, Eliana Barbel, CEO & co-founder of Ellie, discusses her AI matchmaking bot and shares her experiences of being a female entrepreneur in a male dominated industry. Read more
BigPanda extends funding round with $15 million from UBS and Wells Fargo. The strategic venture arms of UBS and Wells Fargo joined the Israeli AIOps platform’s round from January in which it raised $190 million at a $1.2 billion valuation. Read more
Real estate investment management platform Agora raises $20 million. The Israeli fintech startup helps real estate firms raise and preserve more capital by automating their back-office processes, increasing investor satisfaction, and providing advanced tools for operational efficiency. Read more
CTech’s Book Review: Understanding the basics for Financial IQ. Yair Benyamini, Co-Founder and CEO at Lendai, shares insights after reading “Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!” By Robert Kiyosaki. Read more
Guesty raises $170 million to expand hospitality and property management platform. A significant portion of the funding went towards secondary deals. “We are close to becoming a unicorn. Within less than a year we tripled our valuation and doubled our revenue,” said Vered Raviv Schwarz, President and COO at Guesty. Read more
Pliops raises $100 million to make data centers run faster and more efficiently. The Israeli startup’s Extreme Data Processor (XDP) simplifies the way data is processed and flash is managed. Read more
Investor-favorite Pagaya reports 83% increase in revenue to $181.5 million. The fintech company, which has seen its shares surge dramatically over the past month, said it expects its total revenue for 2022 to range between $700 million and $725 million. Read more
Fintech startup Rewire acquired by Remitly for $80 million. The Israeli startup, which enables migrant workers to conduct basic banking activities, including money transfers and check deposits, was bought out by its major competitor. Read more
Talent development platform GrowthSpace announces $25 million Series B. The platform enables companies to plan and execute various talent development programs, including individual and group coaching, mentoring, training, workshops, and lectures. Read more
If it ain’t broke: Innovation nobody needs, when stupid money meets an unnecessary product. From the development of smart supermarket carts to the frequent design changes of Gmail, big money is poured into technology ventures that promise a wonderful new world, but in practice mainly invent solutions to problems that don’t really exist. Read more
Ministry of Economy to allocate additional $6 million for implementing advanced technologies in factories. This amount is an addition to tens of millions of shekels already invested in establishing the Advanced Manufacturing Institute and in founding the institute’s Demo Center. Read more
Biopharma company Short Wave partnering in clinical trial for eating disorders with Sheba Fund. The trial will study the safety and feasibility of psilocybin-assisted psychotherapy for the treatment of anorexia nervosa. Read more
Unity chooses ironSource merger over AppLovin takeover. The Israeli-founded mobile app monetization software company had agreed to be acquired by Unity for $4.4 billion last month before AppLovin offered $17.5 billion to purchase Unity last week. Read more
WeBack: Adam Neumann raises $350 million from Andreessen Horowitz for real estate firm Flow. In 2019, Neumann agreed to resign as CEO of WeWork and give up majority voting control of the company after SoftBank and other shareholders turned on him over a plunge in the company’s estimated valuation ahead of a planned initial public offering. Read more
Israelis suspected of laundering millions through crypto after defrauding French state treasury. After an undercover investigation in cooperation with Europol and the French police, three people were arrested by Israel police suspected of stealing and laundering tens of millions of shekels. Read more
Spacetech startup Asterra discovers underground lithium. The Israeli company, which has developed a technology enabling the identification of minerals below the ground’s surface, said it expects to find additional reservoirs worldwide. Read more
Mind the Tech NY is coming up, here is what’s in store. On September 14th, Calcalist and Bank Leumi’s Mind the Tech conference will get under way in New York, bringing together Israeli high-tech and investment industry experts with leaders of the US business community. Read more
Higher education: Israeli academia jumps in Shanghai rankings: Hebrew University in 77th place, Weizmann & Technion tie for 83rd. After a decade of decline in the academic rankings, this year all three registered a significant jump. Read more
Reservation Nation: How startup Ontopo is revolutionizing online restaurant booking. Danny Glikman hated the fact that to make a reservation at a restaurant he had to pick up the phone. So he founded Ontopo and invented a restaurant seating management system that allows customers to reserve a table online and has already reached a value of $50 million. Read more
“We are decentralizing fashion – no more councils deciding for you what the new trends are.” In an interview with CTech, Rinat Homossany Perry, CEO & Co-founder at StyleCluless, tells the story of her bootstrapped startup, her important pivot, and why a founder should always say ‘yes’ first and ask questions later. Read more
“Investors always say they ‘invest in people’ but they don’t know how to evaluate their potential.” In an interview with CTech, Noa Matz, Social psychologist and Operating Partner at F2 Venture Capital, explains her mission to bridge the gaps between investors and founders, her vision for social psychology, and her tips for her fellow women. Read more
Startup anywell reduces workforce by 50% as part of company restructure. The Workspace-as-a-Service platform for a hybrid work model has laid off 11 additional employees as it continues its restructuring which began following a $10 million Series A in March. Read more
CTech’s Book Review: How to climb the managerial ladder to success. Liran Haimovitch, Co-founder and CTO of Rookout, shares insights after reading “The Manager’s Path: A Guide for Tech Leaders Navigating Growth and Change” by Camille Fournier. Read more
Survey: More than half of Israeli high-tech companies expect an increase in activity in the coming year. A survey by the Central Bureau of Statistics, which examined the expectations of company managers in the high-tech sector, found that over 40% of high-tech companies expect to hire more employees in the coming year. Read more
Ten tech startups aiming to revolutionize maritime. The Covid-19 pandemic proved once more that the maritime supply chain remains crucial to the global economy and that the largely traditional industry is desperate for Israeli disruption. Read more
Hoopo raises $10 million Series A to digitize fleets. The Israeli startup’s solution transforms unpowered assets into connected fleets using highly durable and power-efficient tracking technologies. Read more
Opinion | How long will it take for women’s employment status to stop being affected by global crises? “We can only hope that we will all learn from this unstable period and embrace a diverse mix of human capital,” writes Shahar Silis, Managing Director at Power in Diversity. Read more
