CTECH: Latest Israeli Innovation & Technology News May 1, 2024
Cyber startup Island doubles valuation to $3 billion in $175 million Series D. Island raised $100 million at a $1.5 billion valuation just six months ago. Read more
The Wiz effect? Cyber unicorns Aqua and Orca integrating platforms for joint customers. The integration will allow clients to receive multi-cloud visibility and security provided by the Orca platform combined with multi-and hybrid cloud runtime protection for cloud native workloads offered by the Aqua platform. Read more
Fintech startup RiseUp, that helps customers control expenses, cuts 50% of workforce. The company, which is reducing its staff by around 50 people, offers a technology-based solution that helps customers control their expenses and save money. Read more
“In Russia, I felt alone, like I couldn’t do anything to influence the situation. In Israel, I feel useful.” CTech spoke with members of Reboot Startup Nation, an online community that assists new immigrants mainly from Russia, Ukraine and Belarus find jobs in Israel’s tech sector in the wake of Russia’s invasion of Ukraine and mass immigration from the region. Co-founder Daniil Chernov discussed how his own immigration impacted his desire to build this 14,000-strong community and navigating Israel’s current war with Hamas. Read more
The battle against denialism in the wake of October 7. The terrorist events of October 7 were the most documented in human history, yet the web is flooded with information that explicitly denies the harrowing events that took place. Why are theories that once could only thrive in fringe forums entering the heart of the mainstream, and do rational forces have a way to deal with the global crisis of truth? Read more
Nvidia continues Israel shopping spree with acquisition of Deci. After completing the $700 million purchase of Run:ai, the chip giant is set to soon announce the acquisition of Israeli AI startup Deci. Read more
Check Point registers higher than expected Q1 profit helped by growth of AI-powered security platform. The veteran Israeli cybersecurity company said revenue grew 6% to $599 million. Read more
Mobileye first quarter revenue falls by almost 50% as clients cut back on spending to clear excess stock. The Israeli company said net loss widened to $218 million in the quarter from $79 million a year ago, weighed down by a slump in sales. Read more
Microsoft explains how Generative AI impacts IP law and compliance. Yossi Shakui, Director of Digital Native at Microsoft, spoke to CTech at AIsrael 2024 to discuss the rights behind content created by artificial intelligence. Read more
Opinion | AI transformation doesn’t stop at big financial institutions. “AI-based financial services represent a significant opportunity for Israeli startups whose full potential even artificial intelligence cannot yet imagine,” writes Benjamin Avraham, CEO and founder of the AI-based fintech startup okoora. Read more
Nvidia announces $700 million acquisition of Run:ai. Run:ai enables enterprise customers to manage and optimize their compute infrastructure, whether on premises, in the cloud or in hybrid environments. Read more
Nagomi Security raises $23 million Series A for proactive defense platform. The Israeli startup’s platform helps security teams prioritize the most urgent risks based on an organization’s unique threat profile and provides prescriptive and actionable remediation plans to reduce threat exposure using existing tools. Read more
Bezos Earth rules out $30 million investment in Israeli alternative protein center due to war. Jeff Bezos’ climate fund had published a call for proposals for an Israeli center of excellence, but despite being “awed to see such a robust ecosystem for alternative proteins developing in Israel”, ultimately chose not to invest “given the uncertainty around the war at the current time.” Read more
“I prefer to be unemployed than continue working at a university with Hamas supporters.” “I am very worried for the Jewish students. People are injecting terror into the campus,” says Prof. Shai Davidai, whose entrance to Columbia University was blocked amid the tumultuous anti-Israel demonstrations. Read more
Here’s what’s “truly crucial to the state of Israeli tech”, according to Battery Ventures. Barak Schoster, Partner at Battery Ventures, joined CTech for its 2024 VC Survey to discuss Startup Nation in wartime. Read more
Wiz CTO: “AI is probably the fastest-adopted technology in history.” Ami Luttwak, Co-founder and CTO at Wiz, spoke to CTech at AIsrael 2024 about the company’s recent acquisition of Gem Security and the GenAI space. Read more
Wiz shareholders finalizing secondary deals worth hundreds of millions of dollars. The cyber decacorn is being valued at significantly more than the $10 billion valuation it received in its $300 million Series D last year. Read more
Israel Innovation Authority launches new fund to catalyze $700 million investment in Israeli VCs. New initiative to boost institutional investments in Israeli high-tech will direct $160 million in state funds to VCs supporting Israeli companies. Read more
Eyes on the prize: Eyal Waldman zeroes in on what really matters. In an in-depth interview, Mellanox founder and Israel Prize laureate Eyal Waldman talks about life after the murder of his daughter on October 7, the Israel Prize controversy, and his mission in the efforts to replace Netanyahu. Read more
Innovation in old age: Jump in the business potential for technologies treating the elderly. Sensors, apps, and robot carers: The technological solutions for the aging population as part of the ‘longevity economy’ increases the world’s need to adopt technological solutions to optimize the care of the elderly population. Read more
“Cybersecurity is by far the vertical where the time to exit is fastest.” Guy Franklin, Founder and General Partner at Israeli Mapped in NY Ventures joined CTech during AIsrael 2024 to discuss the cybersecurity industry. Read more
