CTECH: Latest Israeli Innovation & Technology News Jan. 11, 2023
Investments in Israeli startups plummeted 42% in 2022, cybersecurity hit hardest. According to reports released by Start-Up Nation Central (SNC), SNPI, IVC, and LeumiTech, the total volume of investment in 2022 dropped from an unprecedented $27 billion in 2021 to $15.5 billion in the past year. Read more
Blue ocean: Financing platform 40Seas raises $11 million Seed round. The Israeli startup, which also received $100 million in credit from ZIM, offers flexible payment options that are aiming to disrupt legacy trade-financing solutions, and extend the accessibility of working capital for SME importers, exporters, freight forwarders and sourcing agencies. Read more
Teleoperation startup Ottopia nets $14.5 million Series A. The Israeli startup’s teleoperation software can remotely assist, guide, and even safely control fleets of autonomous vehicles and machines. Read more
StreamElements sacks 20% of team for the second time in seven months. The company, which raised $100 million in funding led by SoftBank Vision Fund 2 in September 2021, also laid off 20% of its workforce last June. Read more
She-Inspires | “You can overcome anything with research and consultation.” Noa Franko Ohana, Director at Lyve Labs Israel & Singapore, and Innovation Group Manager at Seagate, shares her tips for success and explains why she views Madonna as a role model. Read more
Analysis | Israel inside: Intel hangs its future on the Israeli branch. Karin Eibschitz-Segal & Daniel Benatar, the replacements of retiring CEO of Intel Israel, Yaniv Garty, are each responsible for strategic areas in global Intel. Read more
“We are very connected to entrepreneurs here, so expanding the presence was only natural.” Gerry Livnat, Managing Director of Rothschild & Co’s Wealth Management Representative Office in Israel, has big hopes for the firm’s Israel office. Read more
2022 VC Survey | VC investment in 2023: Unicorns are dead, long live the Seed. CTech’s comprehensive survey among dozens of Israeli VCs over recent weeks raised one clear conclusion: Unicorns are dead, long live the Seed! A combination of several factors like billions in dry powder, a global financial slowdown, entrepreneurial opportunities, and the maturing of the local ecosystem are making Seed investments more attractive than ever. Read more
She-VC | “Having more women partners in VC’s in Israel should be a non-gender mission.” Shahar Silis, Managing Director at Power in Diversity (PID), explains how she is assisting VC’s and startups in becoming more diverse, equitable and inclusive. Read more
Forescout fires 60% of Israeli R&D staff. The Israeli-founded cybersecurity company is parting with around 10% of its total team in its second round of layoffs over the past four months. Read more
S&P warns Israel: “Weakening state institutions is a ratings risk.” Maxim Rybnikov, the chief analyst responsible for Israel’s rating at international rating company S&P, predicts that the slowdown in the world’s main economies will also affect Israel, resulting in growth of only 2% this year. Read more
Intel Israel appoints new co-CEOs following Yaniv Garty’s departure. Karin Eibschitz-Segal and Daniel Benatar have been appointed co-CEOs of Intel Israel amid the layoffs at the company. Read more
VR is hoping for a perfect world. Too bad for its creators, we don’t live in one. “Creatures in the metaverse are neat and obedient, leaving no room – or tolerance – for the messiness of real life.” Read more
Opinion | What board members need from CEOs: Advice to make the most out of your next board meeting. Dov Moran’s dos and don’ts for how CEOs should give board presentations. Read more
Opinion | Israel’s quantum leap. According to Classiq Technologies co-founder and CEO Nir Minerbi, maintaining Israel’s global status as a “Startup Nation” also requires being a leading and significant player in the field of quantum computing. Read more
Minute Media laying off around 10% of employees. The digital ad startup, which previously acquired the likes of The Players’ Tribune and FanSided, will part with 50 employees. Read more
WalkMe lays off 43 employees, 3% of workforce. The software company, which went public on Nasdaq at a $2.5 billion valuation in June 2021, said it is cutting jobs as part of its strategic focus on enterprises. Read more
Nir Zuk’s new digital bank valued at over $500 million in latest investment. Clal Insurance is investing approximately $28 million for a 5% stake in the Esh bank led by the Palo Alto Networks founder, who has invested tens of millions of dollars in the new venture. Read more
Mobileye CEO: “We don’t want to be another Uber or Lyft.” “We aren’t bleeding money by having to put thousands of cars on the road but working with partners who are experts at this. This allows us to develop a healthy business,” added Amnon Shashua at CES in Las Vegas. Read more
Boarding Pass | “AI is overtaking the traffic engineering ability to manage traffic.” ITC has recently raised an additional $5 million to help with the productization of its traffic management platform. Read more
From home-grown vegetables to fragrances for movies: Israeli startups star at CES. Israeli startups presented in Las Vegas innovations in areas such as autonomous vehicles, agricultural crops that can be grown in the living room, electric vehicle charging and even home urine tests without human contact. Read more
2022’s layoffs were just the promo: The real pain for high-tech is coming in 2023. High-tech companies laid off 7,000 workers in Israel and 100,000 workers in the U.S. last year, but in most companies this was a move designed primarily to please investors. Now comes the real crisis. Read more
Predictive analytics platform Pecan AI parts with a quarter of its employees. The Israeli company, which raised a $66 million Series C one year ago, is laying off 30 of its 120 employees. Read more
Fintech company Personetics lays off 30 employees, 8% of team. The Israeli firm raised $85 million from Thoma Bravo last January. Read more
Twine Solutions cuts a third of its workforce. The company, which develops digital thread and yarn dyeing technology, is laying off 30 employees in total. Read more
LiDAR developer Opsys Tech closes $51.5 million Series C. The Israeli startup has developed a high-performance solid-state scanning LiDAR sensor with no moving parts. Read more
2022 VC Survey | “The key to survival is focusing on efficiency – working lean.” Lisya Bahar Manoah, Partner at Catalyst Funds, joined CTech to offer companies advice ahead of the new year. Read more
TipRanks acquires The Fly for $15 million. The Israeli fintech company, which analyzes financial big data to provide market research tools for retail investors, is acquiring a company for the first time since it was founded in 2012. Read more
Salesforce sacking 10% of global workforce. The software giant is expected to lay off dozens of employees in Israel as part of the cutback plan. Read more
Kaltura cuts 11% of workforce in another round of layoffs. The video creation and distribution company already laid off 10% of its team five months ago. Read more
Unicorn Augury laying off 5% of team. The mechanical diagnostics platform provider, which raised $180 million in October 2021, is cutting 20 jobs. Read more
2022 VC Survey | “2023 is one of the best years in history to invest in Seed and Series A ventures.” Toot Shani, Founding Managing Partner at Sarona Partners, joined CTech to offer companies advice ahead of the new year. Read more
Daimler’s Torc Robotics partnering with Israel’s Foretellix. Torc plans to use the autonomous vehicles verification and validation systems provided by Foretellix to enable the safe deployment of autonomous trucks. Read more
Quiet quitting in China and salary transparency in Germany: how are different countries dealing with changes in the labor market. Lawyers worldwide explain what labor laws apply to the popular employment phenomena of the past year. Read more
