CTECH – Latest Israeli Innovation and Technology News Aug. 5, 2022
Talon Cyber Security announces $100 million Series A for secure enterprise browser. The Israeli startup’s browser simplifies endpoint security by serving as a secure access point to corporate applications and data on any device, managed or unmanaged, and on any operating system. Read more
How to find 8,000 bitcoins buried under 110,000 tons of garbage. In the depths of a landfill in Wales rests a hard drive with bitcoins currently worth around $185 million. James Howells, the man who accidentally threw the drive in the trash nine years ago, explains his crazy plan to locate, extract and restore the lost coins. Read more
Amdocs records record revenue and continues to grow employee count. The software company’s revenues rose in the second quarter by 8.8% to $1.16 billion. Read more
JVP expands New York operations, welcomes new partners and investment figures. “It is precisely in these challenging times that category leaders are made,” said Erel Margalit, JVP Founder, and Executive Chairman. Read more
Report: The integration of ultra-orthodox Jews and Arabs in the high-tech industry is proceeding too slowly. The proportion of ultra-orthodox Jews and Arabs among young people in the high-tech industry has reached 10%. However, a rate of 2.5X is required in order to maintain growth. Read more
“The Marari report shows a severe violation of the privacy and rights of suspects.” Attorney Eitay Mack, who previously petitioned against NSO, criticized the conclusions of the Marari Committee’s report and claimed that the committee should have recommended banning the use of spyware: “In a democratic country, law enforcement authorities must not have powerful systems such as Pegasus.” Read more
Report: Israeli authorities request most Big Tech user data across Middle East and Western Asia. Cybersecurity company Surfshark analyzed the data requests by local authorities from companies such as Apple, Google, Facebook, and Microsoft. Read more
Valley Bank investing $25 million in Leumi’s Garage fund. The fund, which invests, establishes and accompanies startup companies in the fields of fintech, cybersecurity, data and AI, is estimated to total between $130-150 million. Read more
Opinion | Israel’s educational vision desperately needs a digital revolution. “There’s no reason why every student, at any age, shouldn’t fall in love with learning – it’s just a matter of making learning accessible and compatible to how most of us consume content and learn new information today – through our incredible smart and compact devices,” writes Michael Peled, Founder and CEO at Singit. Read more
Pagaya rally shows no signs of slowing, breaches $20 billion valuation for the first time. The fintech company has seen its valuation surge tenfold in two weeks and became Israel’s highest-valued company at one stage on Tuesday. Read more
Flow Security raises $10 million for data security platform. The Israeli startup helps organizations by continuously mapping and detecting all data-related risks for an improved data security posture. Read more
Magic acquires adtech platform Appush for $25 million. Appush, which employs only 10 people, has developed a platform connecting advertisers with mobile gaming publishers, operating in a market similar to that of ironSource. Read more
A slam dunk for mental resilience. Developed by Israelis, The Hour25 AI app receives advice from former NBA stars, including Eddie Johnson, to help ordinary people to block out distractions and develop the focus of superstar Steph Curry. Read more
Gil Shwed: “I’m optimistic about Check Point, but no one is immune today.” The Israeli cyber giant beat the forecasts and registered 9% growth in the second quarter – 2X the growth rate in the corresponding period. Read more
Insoundz appoints Ayelet Senderovits Shapiro as VP of HR. “Ayelet’s extensive experience in managing human resources in high-tech companies will be beneficial to us as we expand on the global market and build our human resources,” said Guy Etgar, Insoundz co-founder and CEO. Read more
Natural Intelligence appoints Jonathan Edelshaim as CEO. The appointment of the new CEO is part of the company’s structural reorganization, which will integrate various units and functions within the company and will result in the layoff of 10 employees. Read more
Innoviz shares surge as Volkswagen is revealed as $4 billion client. The Israeli Nasdaq-traded company will become the direct LiDAR supplier across multiple brands for one of the largest vehicle manufacturers in the world. Read more
Israel Natural Gas Lines to invest in startup Prisma Photonics. The Israeli company and INGL have recently signed an investment agreement for a pipeline monitoring system in Israel. Read more
Eleven Therapeutics raises $22 million, including from the Bill & Melinda Gates Foundation. The Israeli biotech company raised the funds in a Seed round, $9 million of which came from the Gates Foundation. Read more
AstraZeneca, Accenture, AWS and Clalit Health Services launch BeyondBio SCALE startup program. The program is expected to start in November and run until next summer, and will assist startups to expand into markets with the help of program collaborators and their clinical, commercial, and technical expertise. Read more
UAE Royal Family-owned Seed Group seeks opportunities in Israel through local presence. Tech It Forward will be the country manager for the company, which is seeking collaboration, business development, and investment opportunities between the UAE and Israeli startups. Read more
Round B | The pivot spirit. Risky as it may be, changing course is often not just good for startups, but necessary. Read more
Marari report: “Police exceeded its authority. Failings in the use of tapping systems.” The Marari report, which investigated the use of spyware by police, including NSO’s Pegasus, found that information was extracted from mobile devices in violation of the law, as well as serious failures in supervision and control procedures by police. Read more
The NSO scandal: We are asked to believe police did everything “in good faith.” Although “the police did not fully understand the meaning of the system”, we are required to believe that an iron wall was erected between its operators and the investigators, and to believe that excess information, that is forbidden to be seized, did not pass and was not used by the investigating unit – and that everything was done in good faith. Read more
Chipping away at cancer: Young pharmacist-researcher wants to revolutionize tumor treatment. Eliana Steinberg was a pharmacist, until she got tired of seeing patients suffer without being able to help. She changed course, became a researcher, and now, at the age of 28, is the driving force behind a tiny chip that tests several treatments on the same tumor in record time, and deciphers which one will work best. Read more
Elmo Motion Control on course to be acquired for $600 million. The Israeli company has hired investment bank Rothschild & Co. to manage the sale and the leading offer to date is believed to have been placed by Rockwell Automation, which has a market cap of $30 billion. Read more
Foodtech startup GreenOnyx raises $18 million at $70 million valuation. The Israeli foodtech company, which still does not generate revenue, raised the money from strategic investors. Read more
Peech raises $8.3 million Seed funding to expand AI-driven content generation for brands. The Israeli startup has developed an NLP and AI-powered automatic video editing solution which transforms raw video footage into branded videos in seconds. Read more
For companies, ESG efforts invite both celebration and scrutiny. Environmental, Social, and corporate Governance is becoming a mainstay for companies – to the delight and ire of many. Read more
Lumigo appoints Lee Leibovich as VP of People. “Lee’s skills and experience will be a huge asset to Lumigo as we expand our product and grow our user base,” said Erez Berkner, co-founder and CEO. Read more
Volunteering platform Vee lays off 30% of workforce. Vee’s platform hosts a wide range of volunteering opportunities, enabling HR teams to find, coordinate, and share charity events. Read more
Intel is in trouble, but the path to recovery goes through Israel. For the first time in 30 years, Intel turned a loss. A combination of a cut in the investment budget with the adoption of the microchip law in the US, puts Israel at a disadvantage. But the company’s recovery from the crisis may go through the application of smart capital, which characterizes its investments here. Read more
How high will Pagaya shares soar? The fintech company’s stock, which plunged by 85% after merging with a SPAC, has surged tenfold in less than two weeks and currently has a market cap of over $16 billion, almost double the valuation it held when it went public last month. Read more
Heidrick & Struggles headhunting high-tech execs in the Holy Land. Tim Lüdke, a partner in the headhunting company Heidrick & Struggles, which is responsible for the past appointments of the former chairman of Google and the current CEO of Teva, is currently compiling a list of the most desirable people in high-tech and finance in Israel. Read more
Kaltura receives acquisition offer from competitor Panopto at $383 million valuation. The Israeli-founded video creation and distribution company went public one year ago at a $1.3 billion valuation. Read more
Taglit-Birthright and Experis Academy join forces to bring tech workers to Israel. Brightcode is a six-month program that sees Jews learn coding skills that help them integrate into Startup Nation. Read more
Opinion | Buy-up nation: Acqui-hires – the next growth tier for Israel’s startup ecosystem. The time is ripe for acqui-hires, the purchase of one company by another to retain the business’s employees, write Nimrod Vromen & Timor Arbel-Sadras, especially for startups. Read more
Opinion | Stop seeking shortcuts in the journey for a high-tech career. “This is the time to go back to the basic principles we have seemed to forget, or neglected due to recent trends, and be reminded that professional education has no shortcuts,” writes Prof. Dalit Naor, Dean of the School of Computer Science at the Academic College of Tel Aviv-Yaffo. Read more
