CTECH: Latest Israeli Innovation & Technology News Oct. 15, 2024
Venture capitalists turn Miami into a hub for Israeli startups. As Calcalist’s Tech & Invest Conference approaches on November 13-15, CTech connects with investors Ed Sim, founder of Boldstart Ventures, and David Blumberg, founder of Blumberg Capital, making waves in Miami, examining how their presence is transforming the city into a hub for innovation and venture capital. Read more
Intel pushes layoffs of hundreds of employees in Israel to end of October. While many Intel employees across the world will find out this week if they are being let go, the cutbacks in Israel won’t take place before the last week of October following the conclusion of the Jewish holidays. Read more
Ubeya lands $10 million investment after successful workforce management at Champions League final. The Israeli startup’s platform connects employers and flexible workers for events like Wimbledon and Taylor Swift concerts. Read more
Takeover buzz boosts JFrog stock as investors await turnaround from AI play. Despite takeover denials, JFrog’s market value climbed to over $3.4 billion amid private equity interest. Read more
Pavel Gurvich steps down as managing director of Akamai Israel. Three years after selling his startup Guardicore to Akamai, Gurvich, a recipient of the Israel Defense Prize, is expected to found a new startup. Ofer Wolf will replace him. Read more
Startups on the frontline: War displaces founders and employees, yet work continues. Amid the uncertainty of war and evacuation, early-stage Israeli startups navigated the challenges of remote work, temporary offices, and the pressures of keeping business alive with limited resources and scattered teams. Read more
Israeli entrepreneurs lead the charge as Miami emerges as a new tech and investment hub. CTech spoke to Israeli entrepreneurs thriving in Miami’s growing tech ecosystem ahead of Calcalist’s Tech & Invest Conference in the city on November 13-15, exploring how this vibrant community is driving innovation and reshaping the landscape of the Southeast U.S. tech scene. Read more
Israel’s revamped high-tech tax plan puts foreign investors and global companies in the spotlight. A series of new measures, seeking to address investor concerns and offer clarity on capital gains exemptions and multinational tax obligations, has been reinstated into the Arrangements Law. Read more
Inside the FBI’s biggest sting: How encrypted phones exposed the underworld. Anom was meant to be a secret weapon, but it became a global tool for infiltrating drug cartels and murder plots. With the help of criminal masterminds, the operation spread fast—until its consequences became too great to handle. Read more
Opinion | Doubling down on Israel: 5 reasons for optimism. “It’s not just the Zionist thing to do, it’s the smart economic choice,” writes Kobi Samboursky, Co-Founder of Glilot Capital Partners. Read more
Bill Ackman sees 80% return on Tel Aviv Stock Exchange investment in just 10 months. The impressive return reflects a broader trend, as the stock exchange demonstrates resilience despite local economic turmoil. Read more
Hezbollah missiles threaten Adani’s Haifa Port: What happens if Israel’s key trade hub shuts down? As missile attacks escalate, the potential closure of Haifa’s Adani-owned port puts immense strain on Israel’s logistics and economy. Read more
TechnoPulm raises $2 million to develop a handheld device capable of performing full lung function tests. The company took part in CTech’s Startup Boarding Pass series to share how its technology will change lung function testing for millions of Americans. Read more
After OpenAI’s wild year, three big questions linger about its future. As leadership changes and financial pressures mount, OpenAI must address key challenges to secure its future in AI dominance. Read more
Opinion | Challenges in the data world in 2025: Can we keep up? “Companies that are wise enough to invest in innovative technologies for data management and real-time information processing will be able to create a clear competitive advantage in the market,” writes Noam Tzuberi, Head of Innovation at Rivery. Read more
Intel employees brace for layoff notices as cuts to move into high gear next week. With employees who selected early retirement officially leaving the company at the end of September, layoffs are set to ramp up soon. Read more
OpenWeb turmoil: Jeff Horing’s role in ousting CEO Nadav Shoval reveals the unicorn industry’s dark underbelly. As Shoval battles his removal in court, the case highlights the shifting power dynamics between startup founders and influential investors. Read more
Prime Security nets $6 million in Seed to build guardrails into the software design phase. The Israeli startup’s design-stage security product removes the friction between security and engineering by applying AI to understand product intentions and provide security guidelines to all stakeholders. Read more
Israel’s laser defense system nears operational status amid intensified rocket barrages. As Hezbollah increases its attacks, Israel prepares to deploy the Iron Beam developed by Rafael. The system is expected to become operational within months, and it should dramatically streamline the interception of rockets and UAVs launched at Israel. Read more
Opinion | The end of missed diagnoses? How AI is detecting breast cancer cases that physicians overlook. “The future of AI in medicine is only at its beginning. The digital revolution is no longer a futuristic dream—it is happening now,” write Professor Miri Sklair-Levy and Dr. Debbie Anaby. Read more
Ousted OpenWeb founder launches legal fight, says board illegally removed him. Nadav Shoval’s lawsuit accuses Insight Partners and other shareholders of orchestrating his ouster, claiming secret meetings and unlawful decisions led to his dismissal as CEO. Read more
“We’ll be looking out for you”: Intel CEO Gelsinger stands with Israeli team. On the anniversary of the October 7 atrocities, Intel’s CEO offered support and recognition of employee resilience. Read more
1.2 terabytes of data stolen from Pearl Cohen law firm: Hackers demand ransom, firm refuses. Israeli law firm falls victim to a cyberattack by BianLian but stands firm against ransom threats, ensuring ongoing operations are unaffected. Read more
“It’s tough right now in Israel, but for the Jews, it’s going to be tougher in Europe over time.” Edouard Cukierman, Managing Partner of Catalyst Funds and Chairman of Cukierman Investment House, spoke to CTech about Israel, Europe, and the new “Netflix-type” platform he has launched to help boost foreign investment in Israeli startups. Read more
Lusix faces collapse after EDP backs out of takeover offer over Israel war risk. The debt-ridden diamond company is looking for alternative bidders after the Japanese investor pulled out. Read more
