CTECH: Latest Israeli Innovation & Technology News Oct. 29, 2024
Armis raises $200M, boosting valuation to $4.3B in push towards IPO. Cybersecurity leader Armis secures new funding led by General Catalyst and Alkeon Capital, setting sights on $500M ARR milestone. Read more
Gili Raanan’s Sunrise payments model suspended as CISOs question ethics. Concerns over influence and incentives prompt high-profile withdrawals, challenging Cyberstarts’ consulting approach. Read more
“Why should I stay at Intel?” Employees question future as layoffs loom. Amid layoffs and new austerity measures, Intel Israel employees weigh whether loyalty to the company still holds value. Read more
“Israel is becoming a prison for tech workers”: Flight shortage risks global disconnect. Israel’s tech sector scrambles to keep sales and operations running as soaring fares and limited flights due to the ongoing war disrupt business abroad. Read more
Israel’s Iron Beam laser defense system set for 2025 operational launch following $500M expansion. Defense Ministry fast-tracks Rafael and Elbit’s advanced laser interception system to combat evolving aerial threats. Read more
Intel cuts free coffee, braces for next layoff wave. Intel Israel employees face empty kitchen stations as company cost-cutting intensifies ahead of layoff notices. Read more
Granulate’s fate uncertain amid Intel layoffs, less than three years after $650M acquisition. Intel’s sweeping layoffs and cost-cutting moves mean Granulate’s operations and workforce are also in jeopardy. Read more
Palantir’s Israel contracts prompt $24M Storebrand divestment over rights concerns. Nordic asset manager drops holdings, citing ethical risks tied to Palantir’s surveillance technology. Read more
From Iron Dome to F-15s: US provides 70% of Israel’s war costs. A report by Brown University’s Watson Institute reveals that since the beginning of the war, the US has spent more than $22 billion on military aid to Israel – from weapons and equipment to the deployment of aircraft carriers. Israel receives more U.S. military aid than any other country and is uniquely able to use that funding to spend on domestic goods. Read more
Opinion | Investors no longer fear DeepTech. “DeepTech can help save Israel’s hobbling startup ecosystem”, writes Doron Zauer, General Partner at Earth & Beyond Ventures. Read more
Wiz will be bigger than CrowdStrike and Palo Alto: Cyber decacorn’s top female executive shares her vision. A chance encounter with Assaf Rappaport led Raaz Herzberg, Wiz’s CMO & VP Product Strategy, to become a key member of the company, helping the cybersecurity startup pivot to cloud security and become a global powerhouse. Read more
OneStep secures $36 million Series B for smartphone-based motion analysis technology. The Israeli startup’s technology transforms smartphones into clinical-grade motion analysis tools, helping healthcare providers assess, treat, and monitor patients from anywhere. Read more
Stream.Security raises $30 million Series B for cloud detection and response platform. The startup developed Cloud Twin technology, which provides SecOps teams with real-time cloud threat and exposure modeling to accelerate response. Read more
BiltOn, founded by ex-Sayeret Matkal officers, nets $15M Series B for construction site platform. The construction site operations platform, formerly known as Beti, aims to scale its digital workforce and safety management solutions after significant revenue growth in the U.S. Read more
Digital bank One Zero raising $100 million at $400-$450M valuation. This new fundraising round reflects a valuation over $100 million higher than the bank’s last round in 2022, which valued the bank at $320 million. The increased valuation is attributed to the bank nearing profitability for the first time, with the goal of achieving initial annual profitability by 2025. Read more
Cyberstarts nets $60 million for fourth Seed fund. Gili Raanan’s VC fund took its assets under management to $720 million on the back of acquisitions of portfolio companies Axis Security, Bionic, and Noname Security. Read more
ASML forecast cuts $1 billion from Israeli chip manufacturer Nova’s market cap. Nova, Tower, and Camtek face steep losses after ASML signals slower growth for 2025, impacting global chip demand. Read more
Israeli pension funds shift toward private investments and S&P 500 as high-tech exposure drops. Despite war and political instability, Israel’s institutional investors expand into private funds and global markets, reducing high-tech exposure while managing over 2.5 trillion shekels in assets. Read more
Nebius eyes $1 billion in AI revenue as Nasdaq trading resumes post Yandex split. With a focus on AI infrastructure, Nebius is set to capitalize on the booming demand for GPUs and data centers, aiming for massive revenue growth by 2025. Nebius has a significant R&D center in Israel and is headed by CEO Arkady Volozh, founder of Yandex, who has been living in Israel in recent years. Read more
Will we ever know how many employees Intel is laying off in Israel? In the U.S., companies are required to reveal mass layoffs by law, but in Israel, they are free to keep the public in the dark. This discrepancy raises concerns about the accountability of tech giants and leaves the likes of Intel Israel employees in limbo. Read more
“How many times does a board have to tell a CEO his services are no longer needed?”: OpenWeb counters Shoval’s lawsuit. Board claims Shoval refuses to accept dismissal, accusing him of prioritizing personal financial gains. Read more
Remilk in turmoil as directors resign over leadership disputes and unmet goals. The departure of four prominent board members raises red flags for the future of the startup’s non-animal milk products, initially slated for a 2023 launch. “In recent weeks, Remilk completed an additional $20 million fundraising round from a new strategic investor, furthering the company’s significant progress,” the company said. Read more
How to land a job at Google, Apple, and Amazon: Insights from top CEOs. From technical skills to collaboration, here’s what it takes to stand out in the world’s leading tech companies. Read more
“Space is closer than ever – and the business opportunities are vast.” Hadar Vernik-Shalev, CEO of Rakia, a company whose goal is to promote the space sector in Israel, talks about the company’s vision for Israel’s space industry, international collaborations through the Israel Space Forum, and the tremendous business potential for Israeli companies. Read more
Kenny Rozenberg’s healthcare group sells nursing subsidiary for hundreds of millions of dollars. The American nursing home company Centers Health Care, owned by businessman Kenny Rozenberg and his partner Daryl Hagler, has signed a deal to sell its subsidiary Centers Plan For Healthy Living (CPHL) to health services and insurance giant Elevance Health. Rozenberg, the controlling-owner of El Al, has also seen his wealth grow over the past year due to the rising price of the Israeli airline’s stock that has benefitted from many international airlines suspending their flights to and from Israel since October 7. Read more
Port raises $35 million Series B as demand for DevOps solutions soars. The Israeli startup said its annual revenues have increased sevenfold over the past year, while its user base has expanded eightfold, with customers including companies such as LG, GitHub, and British Telecom. Read more
Monogoto nets $27 million Series A to power global connectivity solutions. The Israeli startup offers software-defined connectivity services that simplify the connection process for organizations and developers. Read more
Lidwave secures $10 million Seed funding for 4D LiDAR-on-chip technology. The Israeli startup’s 4D coherent sensor-on-chip, powered by its Finite Coherent Ranging technology, allows Lidwave to integrate key components onto a single chip by treating light as a wave, rather than using traditional photon counting. Read more
Venn secures multi-million dollar contract with Bozzuto, expands US footprint. The platform, which includes AI components and maximizes automation, will serve 105,000 apartments owned by Bozzuto, where more than 300,000 tenants reside. Read more
Israel tests cutting-edge drone interception systems to counter evolving threats. Eight Israeli companies showcased new technologies in a first-of-its-kind trial, aiming to swiftly deploy solutions against the rising drone menace. Read more
