CTECH: Latest Israeli Innovation & Technology News Dec. 2, 2024
The researcher who proved ChatGPT is sexist. Prof. Gal Oestreicher-Singer, Associate Dean for Research at the Coller School of Management at Tel Aviv University, found gender biases in ChatGPT based on the financial advice it provided, including that the chatbot suggested more conservative investment paths, simplified the discourse, and spoke in a condescending tone to users it identified as women. Read more
“How much did my sister’s murder cost?” $2.2 million, says report on economic cost of femicide. A groundbreaking report commissioned by the Michal Sela Forum and conducted by Social Finance Israel reveals that intimate partner violence and femicide cost the Israeli economy approximately NIS 34 billion ($9.35B), with NIS 8.2 million ($2.2 million) per murdered woman. Forum CEO Lili Ben-Ami, whose sister Michal Sela was murdered by her husband, says that prioritizing preventative solutions would save lives and cut public costs. Read more
“David’s Sling and Iron Dome intercepted more targets than all other air defense systems combined in the past 50 years.” Rafael CEO Yoav Turgeman was speaking after the company revealed a 36% increase in its sales in the third quarter to NIS 4.53 billion, while net profit amounted to NIS 189 million. Read more
Cyber attacks expose flaws in cashless ambitions. Norway, Sweden, and now Israel confront the risks of over-reliance on digital systems. Read more
November 2024 in Israeli tech funding: $697 million in 17 deals. Almost half of November’s funding came courtesy of Cyera, which raised a $300 million Series D, taking its total funding in the last seven months to $600 million. Read more
Can Israel capitalize on its AI strengths? Report reveals key areas of opportunity. Israel’s top AI sectors—vertical applications and AI infrastructure—are showing signs of growth, but retaining talent and securing funding will be essential to maintain a competitive edge. Read more
The $1.2 million butt tattoos: How a bet on SuperPlay made one man a millionaire. The incredible story of how tattoos and a gaming company’s rise changed one man’s fortunes forever. What started as a playful wager turned into a life-changing fortune for D after SuperPlay was recently acquired by Playtika for up to $1.95 billion. Read more
Intel’s foundry spinoff and $7.86 billion subsidy highlight importance of Israeli manufacturing. The chip giant’s restructuring aligns with its ongoing investments in Israel’s advanced semiconductor capabilities. Read more
Delek exits Phoenix with $32 million profit in just four months. Tshuva’s group capitalizes on rising valuation, selling its 4.9% stake for NIS 58 million. Read more
Founder mode on steroids: The Israeli secret to startup survival and success. “As the debate between founder mode and manager mode rages on in Silicon Valley, Israeli entrepreneurs continue to demonstrate the power of staying in an amplified founder mode,” writes Dr. Micha Breakstone. Read more
SolarEdge to shut down energy storage division, lays off 500 workers in South Korea. Amid declining revenues and leadership changes, SolarEdge restructures to concentrate on solar operations. Read more
Netflix faces $2.75 million class action lawsuit over Mike Tyson and Jake Paul fight glitches. Israeli subscribers demand compensation after technical failures ruined the streaming giant’s live sports event. Read more
From dystopia to gaming for peace: The eerie prophecy of “Israel 2023”. Asi Burak’s Bezalel thesis resurfaces, inspiring global conversations about peace and social change through video games. Read more
Despite Hezbollah ceasefire, international airlines won’t return to Israel until 2025. Revital Ben-Natan, CEO of Ofakim Travel & Tours, says that major airlines who may like to return to profitable routes will find it difficult to do so since they’ve redirected their flights to other routes. Read more
“Before AI replaces us, it will help us learn faster.” Itay Gissin, CEO at MagniLearn, spoke to CTech at the Roadshow+ event about the use of AI in education. Read more
Eon raises $70 million at $1.4B valuation, bringing total funding to $200M in less than a year. The Israeli startup has been likened to “the next Wiz” due to its rapid fundraising trajectory and high-caliber team, achieving unicorn status in less than 12 months. Read more
Decart raises $25 million, surges to $500 million valuation just weeks after Seed round. The Israeli startup raised $21 million in its Seed round, led by Sequoia Capital with participation from Oren Zeev, at a post-money valuation of $100 million. Read more
Amazon cuts 50 jobs in Israel as it winds down Ad Server operations. The global advertising unit closure is part of a wider restructuring effort. Read more
Gaming startup Gigantic requests court freeze after amassing $10.7M debt. The Israeli gaming company, known for the Clawee app, seeks a court-appointed trustee after struggling to raise funds amid mounting financial challenges. Read more
Intel’s startup accelerator shuts down when entrepreneurs need support more than ever. “Unlike other accelerator programs that have an interest in serving those behind the program, Intel Ignite did not push startups in a different direction, and the support provided to entrepreneurs followed the path they chose,” writes Itamar Friedman, co-founder & CEO of Qodo, and an Intel Ignite alumni. Read more
Pyramid Analytics secures $50M from BlackRock to drive AI business intelligence. The Israeli company took its total funding to around $250 million after raising $120 million at a $1 billion valuation in March 2022. Read more
Mobile games D2C platform Appcharge nets $26 million Series A. Appcharge helps mobile game publishers to sell virtual items and currency directly to players, helping developers retain up to 95% of their revenue. Read more
TechAir takes flight: High-tech industry’s airline announces NYC Flights. Flights to JFK begin January with round-trip ticket prices set at $1,350 for economy class. Read more
Fintech Capitolis raises $20 million from Citi, Morgan Stanley, State Street and UBS. Each bank will invest $5 million and receive a representative on the Board of Directors. Read more
“A conflict with China is on the horizon. Trump’s focus on this will influence Israel’s tech market.” A panel discussion with representatives from VCs including Blumberg Capital, Vertex Ventures and Poalim Tech at Calcalist and Bank Hapoalim’s Roadshow+ event discussed the impact of Trump’s re-election, the rising market for defensetech, and AI regulations. Read more
