CTECH – Latest Israeli Technology and Innovation News
Fast-charging battery startup StoreDot closing on $3.5 billion SPAC merger. StoreDot’s batteries can currently be used to power drones, electric motorcycles and scooters, and the Israeli company believes it will be able to charge electric vehicle batteries in the near future. Read more
eToro officially announces $10.4 billion SPAC merger with Betsy Cohen’s FinTech Acquisition. In 2020, eToro added over 5 million new registered users and generated gross revenues of $605 million, representing year-over-year growth of 147%. Read more
Gaming giant Ubisoft takes part in Overwolf’s $52 million series C.
“The madness started in 2019 and the pandemic just added a tailwind to what was already working fantastically,” said Overwolf’s CEO. Read more
KAR Global leads $15 million series A funding in Ravin AI. The Israeli startup is an international provider of automated artificial intelligence solutions for vehicle inspections serving diverse fleet, insurance and remarketing customers around the world. Read more
Team8 leads $12 million seed round in AI-enterprise platform Noogata. The company develops an artificial intelligence platform for enterprises. Seed round funding will be used to increase digital transformation, unlock data, and expand platform to new industries. Read more
Stor.ai raises $21 million in extended series A. The company aims to use the capital to integrate next-gen features into its core offering and accelerate growth in North and Latin America. Read more
Teramount’s $8 million funding round brings in next-gen semiconductors. The funding follows a recent breakthrough that demonstrates 100x improved tolerance compared to existing technologies. Read more
BIRD Foundation issues $4 million for joint U.S.-Israel clean energy proposals. The U.S. Department of Energy has partnered with the Israeli Ministry of Energy and the Israel Innovation Authority for $4 million in funding for clean energy proposals. Read more
Israel’s OurCrowd enters $15 million partnership with Japan’s NTT Finance. NTT Finance will have access to OurCrowd’s portfolio of AI, IoT, Healthtech, and AV companies. Read more
Datagen raises $15 million to advance machine learning training with real-world simulations. The Israeli company received funding from VC funds as well as a series of AI luminaries. Read more
HR Post Covid | For Artlist, creativity comes from face-to-face contact. It’s one thing to speak on Zoom all day, but the digital content company believes creativity is best when people are together. Read more
With SafeUp, women can crowd-source their own security on Tel Aviv’s streets. SafeUp took part in Israel’s 8200 Impact accelerator program, where special attention was placed on companies tackling domestic violence and women’s rights. Read more
Tel Aviv to host Global Wellness Summit focusing on innovation in the $4.5 trillion market. Welltech Ventures co-founder Amir Alroy selected to co-chair the November event as the world begins to emerge from under Covid-19. Read more
Environmental Innovation | WHO urges countries to “stop hoarding the vaccines.” Speaking at Calcalist’s Environmental Innovation Conference, Dr. Dorit Nitzan shares some of the ways that countries can help each other to end Covid-19. Watch full video
Environmental Innovation | Companies are more health-aware thanks to Covid-19. Israeli companies are increasingly looking to invest in innovative technologies which improve the environment and people’s health. Watch full video
eToro heading for $10 billion SPAC offering in coming weeks. The Israeli fintech company is looking to capitalize on its surging valuation by going public on Wall Street via a special purpose acquisition company. Read more
Report: IronSource in talks to merge with SPAC at $10 billion valuation. The targeting company is Thoma Bravo, one of the largest and most active investment firms operating in the tech sector. Read more
EyeYon Medical raises $25 million for corneal implants. The company has developed the world’s first synthetic implant that enables doctors to treat chronic corneal edema without the use of human tissue or corneal donations. Read more
Nemesysco’s emotion-detecting voice technology to be put to use in UAE. The Israeli company signed an MoU to distribute its HR-geared tool in partnership with Spire Solutions. Read more
Analysis | Will Israel’s new Digital Bank manage to shake up the sector? Amnon Shashua plans to disrupt the banking world by offering new tech and lower prices, but it may not be enough. Read more
Playtika launches specialized employee onboarding app. The user-friendly app helps candidates keep track of the different stages of their interviews, providing them with information ahead of each step in an interactive format. Read more
What I learned from sports and how it helped me as a tech entrepreneur. Israeli tech entrepreneurs Adi Zamir, Gal Rimon, Ilan Peleg and Marc Gaffan discuss lessons from their days as athletes and call on the government and authorities to invest more in youth sports. Read more
Israeli truffle-growing startup secures $5 million from AP Partners.
ILSAR uses advanced agtech to produce a fungus fit for fine restaurants around the globe. Read more
“Chronic tech labor shortage poses a risk to Israel’s economy,” state comptroller warns. Matanyahu Engelman cautions that if they are unable to find employees locally, tech companies will switch to outsourcing. Read more
People learn more about a workplace in the hallways than in interviews. During a year of working remotely, many companies were forced to improve their recruitment process through apps, video interviews, and built-in digital questionnaires, which have forever changed the way companies sort through candidates. Read more
HR Post Covid | Verbit’s ‘Buddy Program’ hoped to make onboarding a little easier during Covid-19. It’s not easy for new employees to join large companies when they spend months working from home – here’s how Verbit tackled the challenge. Read more
Meitav Dash acquires tax return automation platform Finupp for $1.5 million. The Israeli startup saw a boom in users following Covid-19 mass furloughs. Read more
Round B | For startup managers, doing less often achieves far more.
The Israeli tech scene cultivates a commando squad mentality of rushing ahead at all cost, but it’s better to prioritize and focus on what matters. Read more
The inflation of unicorns is not all bad for the Israeli economy. Capital invested is far more significant than lofty valuations. The new millionaires will reignite the economy, but also widen socio-economic gaps. Read more
Interview | The American company helping Israeli startups scale-up to the next level. Aerospike boosts the performances of the databases of Israeli tech giants such as AppsFlyer, IronSource, and Playtika, and is now eyeing the next generation of local startups. Read more
Last chance for early-stage startups to apply to SigmaFintech course.
The course is organized by Sarona Partners, SigmaLabs, and Max. Read more
Amnon Shashua’s Digital Bank initiates operations in pilot mode. The program will be expanded during the third quarter of 2021, and be available to the general public by the end of the year. Read more
SaNOtize to seek emergency approval for its Covid-19-fighting nasal spray. The drugmaker has completed a Phase 2 clinical trial in the UK, Israeli CEO says treatment can help vaccines defeat the pandemic. Read more
Interview | The startup that began on a bus ride is revolutionizing the debugging industry. Lightrun’s technology is used to improve companies’ development ecosystem and allows programmers to gather data on live applications and debug the code in real time. Read more
Employer Branding | How did EX.CO reinvent itself during Covid-19?
EX.CO thought it would be hard enough to attract top talent after a rebrand. Then came the pandemic, too. Read more
Interview | Bringing female intuition to artificial intelligence. Intel-Israel and Supersonas have gathered a large amount of data and advice from leading Israeli women to build the first female-intuitive artificial intelligence system. Read more
Interview | Working from home will set women back decades, says Amdocs CFO. “At Amdocs, I’m no longer the only woman in the room,” said Tamar Rapaport-Dagim, but predicts that working remotely during the pandemic will harm women in the long run. Read more
NFT sells for $69 million ushering in a new era of art history. From a gif of a flying cat to massive auction bids on Christie’s, art on the blockchain is changing the meaning of ownership. Read more
HR Post Covid | Ermetic: “In the post-pandemic world, geography will be less critical for sales.” Cybersecurity company Ermetic is growing its team in a world of social distancing, making location largely irrelevant. Read more
Amsalem Tours Group launches ABT Cellular, an eSIM solution for overseas travelers. The eSIM technology can be uploaded through a QR code and function in 200 countries around the world. Read more
With the cloud blocking its horizon, Check Point is facing its moment of truth. Under Gil Shwed’s conservative leadership, the Israeli cybersecurity giant didn’t capitalize fast enough on the cloud, leaving it to face some hard decisions. Read more
Israel’s Sight Diagnostics’ Sight OLO deployed at Oxford University’s John Radcliffe Hospital. The company delivers Full Blood Count results in minutes for the testing of Covid-19. Read more
Israel-based retrain.ai completes $9 million series A. The talent intelligence platform provider was founded by Kaltura co-founder Shay David; secures new capital only four months after its seed round. Read more
Interview | The world’s most prolific creative designer these days is a made-in-Israel robot. Using a machine learning algorithm, Tailor Brands is able to provide branding services to millions of microbusinesses and solopreneurs. Read more
Israel’s vaccination drive gets spoofed by South Park. Long-running animated series recognizes Israel for its successful campaign but knocks its closed-border policies. Read more
HR Post Covid | “A whole new type of HR communication had to be invented,” says BreezoMeter. Covid-19 brought many changes for companies across the world, especially in the HR departments that focus on communication and wellbeing. Read more
Israeli Novolog Group invests in German telemedicine provider medflex. Medflex is rapidly becoming one of Germany’s leading telemedicine providers, experts expect the field to become a $68 billion industry by 2025. Read more
Israeli gaming company Toya found a home in the Roblox community. When it comes to the kids-orientated gaming giant’s platform, user-generated content takes on a fluid meaning. Read more
IAI and UAE’s EDGE reveal first-ever open strategic agreement to develop Counter-UAS solution. The new drone-busting system set to be tailored to desert conditions, capable of employing explosives, lasers, and electronic jamming. Read more
A month in, Tesla raises the prices on its vehicles in Israel. About a month after Tesla introduced its vehicles into the Israeli market, it has decided to raise the price on its Model 3 version by thousands of shekels, reflecting aggressive import policies. Read more
Study reveals majority of Arabs are blind to Startup Nation. According to a report by PresenTense with the support of Citi Israel, the country’s Arab population’s high tech sector isn’t as exposed due to geographical challenges and perceived prejudices. Read more
YL Ventures makes massive profit selling holdings in cybersecurity startup Axonius for $270 million. Axonius successfully raised $100 million at a valuation of $1.2 billion last week, becoming a unicorn just four years after being founded. Read more
E-commerce experienced a “quantum shift” and there’s no going back, says senior eBay executive. Ilya Kretov, who leads the online marketplace’s operations in roughly 200 countries, said people everywhere formed new shopping habits during the pandemic. Read more
Ibex Medical Analytics raises $38 million for AI-powered cancer diagnostics solutions. Ibex’s solutions detect cancer in real-time, enabling 100% quality control, while also reducing turnaround times. Read more
Cash-strapped Israel Innovation Authority forced to freeze grants to startups. The government’s tech investment arm is still accepting applications but says it can’t green-light new funding until its own budget is approved. Read more
Demostack raises $13.3 million in round led by Bessemer Ventures. The Israeli software-startup develops a system that allows companies to remotely create software demos for sale, and recently completed its $4 million seed round in December 2020. Read more
Mazor Robotics founder is at it again, raising $10 million in seed round for new startup ForSight Robotics. After a $1.6 billion exit with Mazor, Professor Moshe Shoham has his sights set on revolutionizing eye surgery. Read more
E-commerce company Global-e targeting unicorn status in Nasdaq IPO. The company said it plans to raise $100 million, but it is believed that it could end up with as much as $300 million at a valuation of more than $1 billion. Read more
Pepticom raises $2.6 million for PeptiCov, spin-off company combatting Covid-19. PeptiCov will use Pepticom’s AI technology to design, discover and develop novel peptide molecules. Read more
HR Post Covid | Amid the pandemic, Fetcherr’s HR Manager built her role and shaped her team. Even though the AI company has always been entirely remote, Fetcherr joins CTech to consider what impact Covid-19 had on society. Read more
Bank Leumi and digitalization startup CallVU partner to cut down on paperwork. Digital signatures are part of an overall initiative at Bank Leumi to make banking more transparent and convenient. Read more
Cortica announces CORDiguide, medical spin-off of autonomous AI technology. CORDiguide helps navigate the catheter in cardiological and cerebral interventions. Read more
Amot takes advantage of tech sector’s resilience to raise rent prices.
Doubts over whether the transition to working from home part-time would harm the office rental market have been alleviated; tech companies are making up for losses from commercial rentals. Read more
Opinion | Why China has become too big and distinct to ignore? The rising tensions between the U.S and China have created new risks, but it’s also possible that the two countries pursue distinct economic and technological models that prosper in parallel. Read more
