CTECH: Latest Israeli Innovation & Technology News Nov. 12, 2024
“Laser technology is a true game-changer. There are applications we haven’t yet conceived of.” Brigadier General Ran Kochav, former commander of the Israeli Air Missile Defense Forces, believes that the introduction of Iron Beam, a laser interception system, heralds a profound change in warfare and believes that the day is not far off when fighter jets will be able to destroy ground targets from the air with total silence and precision. Read more
Why Monday.com’s impressive revenue jump wasn’t enough for Wall Street. Despite 33% growth, investors reacted to unexpected losses, a leadership change, and a less ambitious Q4 outlook. Read more
Pandemic high to deep decline: How LivePerson’s valuation dropped from $4.7B to $60M. Once seen as a transformative solution for customer service, LivePerson now contends with fierce competition and a shifting market landscape. Read more
Viola Ventures’ next fund to be led by Zvika Orron and Omry Ben David, together with founder Shlomo Dovrat. The VC’s seventh fund will be led by General Partners Omry Ben David and Zvika Orron, with group co-founder Shlomo Dovrat to continue as a General Partner to complete the leadership transition. The fund also announced that its core investment areas for the coming years will be vertical AI, fintech, and AI infrastructure/cyber. Read more
“We have a bitcoin president!” The real winner in the US election. Crypto market executives poured $245 million into the US presidential election, and the result is a House of Representatives that overwhelmingly supports the industry. Now their expectation is for legislation tailored to their needs. Read more
“I want to build more bridges between Palestinians and Israelis”: Creating a Palestinian tech hub in East Jerusalem. The ongoing multi-front war has placed great strain on East Jerusalem’s nascent tech sector as well as ties between the Israeli and Palestinian tech industries. With the Palestinian economy facing potential collapse, the stakes for the industry have never been higher. Read more
$100M in savings not enough to justify Intel’s coffee cut. Intel reinstates coffee and tea service, acknowledging the importance of small perks for employee morale. “Although Intel still faces cost challenges, we understand that small comforts play a significant role in our daily routines,” the company stated. Read more
Trump’s return to power: What it means for Google, Amazon, and Meta. As CEOs rush to congratulate him, Trump’s impact on Silicon Valley’s future remains unpredictable. Read more
“The genome project will change the face of medicine in Israel and save human lives.” Psifas is an ambitious new genome project aiming to create a genetic database of Israel’s citizens, with a budget of NIS 250 million. The collected information already provides information that will make it possible to treat life-threatening diseases in the subjects. The hope is that after accumulating 100,000 samples, the database will help jumpstart the biotech industry. CEO Prof. Gabi Barbash: “Psifas is a great achievement and advantage for Israel, which aspires to become a global hub of biotechnological information.” Read more
Cyber startup Upwind raising $100 million at $850-900M valuation. The Israeli company, founded by Amiram Shachar and his founding partners from Spot.io, which was sold to NetApp for $450 million, is set to take its total funding to $180 million in two years. Read more
Stealth era: Secret startup boom signals shift in Israeli high-tech strategy. While public data tells a story of stagnation, under-the-radar fundraising and secretive new ventures reveal a hidden boom. Read more
Intel restores car benefit, citing progress on savings goals: “We understand the importance of this to employees.” New allowance plan comes as Intel restores key perks, amid efforts to stabilize morale during massive cost reductions. “Given our progress against our savings objectives, we have decided to retain the car benefit,” Christy Pambianchi, Intel’s Executive Vice President and Chief People Officer, wrote to employees. Read more
With IPOs paused, Israel Secondary Fund scales third fund to $350 million. ISF expanded its third fund by $40M to purchase holdings from existing shareholders in startups, including investors, entrepreneurs, managers and employees. Read more
The tech mogul who could reshape government: Musk’s role in Trump’s new era. Musk’s potential as Trump’s “Czar of Efficiency” could change the landscape of government regulation and privatization in America. Read more
SolarEdge struggles mount as Trump’s energy stance clouds green sector’s future. The renewable energy company’s shares fell 22% in after-hours trading following a sharp drop in quarterly revenue and a significant widening of losses. Read more
CrowdStrike acquires Adaptive Shield in $300M deal to boost SaaS security. The Israeli startup’s solutions help security teams manage the organization’s applications, identities, and detect unusual behavior within the SaaS ecosystem. Read more
Intel brings back free coffee, considering return of company cars. Following employee discontent, Intel Israel partially reverses benefits cuts as it seeks to boost morale amid ongoing layoffs. Read more
Cellebrite CEO Yossi Carmil retires following record-breaking $100M quarter. Digital intelligence company announces Carmil’s departure as revenues top $100 million in a quarter for the first time. Read more
Kardome secures $10M Series A for spatial hearing AI technology. The Israeli startup’s spatial hearing software enables devices to move beyond screen-based, manual inputs and instead respond to natural, voice-driven, and context-aware interactions. Kardome’s software has already been implemented in more than a million devices. Read more
Teva soars with double-digit growth in Q3, raises annual forecast. Strong sales of Austedo and Ajovy push Teva’s revenues above expectations, with the company forecasting up to $16.5 billion in 2024. Read more
Harris vs. Trump: Competing visions for America’s economic future. A contrast in policy proposals reveals divergent paths on taxation, spending, and social welfare that could reshape the nation. Read more
Payoneer’s turnaround story: Stock soars on back of strong earnings and raised outlook. The international fintech player impresses with fifth quarter of growth and resilient performance in a competitive market. Read more
Is ChatGPT about to upend Google’s long-reigning search dominance? With real-time web access, OpenAI’s ChatGPT aims to redefine search and take on Google’s core business—but is the web itself at risk? Read more
Intel aims to net billions in Altera stake sale, targeting $17 billion valuation. Buyout firms Silver Lake, Bain Capital and Francisco Partners are among the potential suitors that are likely to compete to acquire a minority stake in Altera. “We remain focused on selling a stake in Altera on a path to its IPO in the coming years. To that end, we have begun discussions with potential investors and expect to conclude in early 2025,” said Intel CEO Pat Gelsinger. Read more
The secret behind the power of Israel’s cyber industry: Identifying and building new categories. “The extraordinary ability to identify and build new categories is a key driver behind Israel’s cybersecurity industry,” writes Barrel Kfir, Partner at Dell Technologies Capital. Read more
