Israel Startup Nation Weekly Roundup for Jan 15 – 21
They don’t call Israel Startup Nation for nothing. Here is a list of stories from the country’s high tech sector from this past week.
(Editor’s Note: For our purposes, companies which may have long since had their “exits,” but which were founded in Israel and are in any way related to high tech are included in Israel Startup Nation.)
First, Feature Forward launched FeFoX couples, an automated decisioning with Smart Throttler, which the company describes as a a smart QPS throttling mechanism which will improve buyers load and subsequently reduce the cost of infrastructure and connectivity. In simple English, this should help businesses better reach their target markets.
Feature Forward provides a video platform which it claims ensures the effectiveness and results of its partners’ marketing strategies.
Gal Topaz, Feature Forward’s CEO, explained that the advertising technology industry is “rapidly evolving, and the focus is on programmatic advertising. Growth in ad spend is expected to double, and even triple itself by 2019. The major scale issue the industry is dealing with today is a highly complex and fragmented business environment.”
Israeli startups are also involved in alternative energies. Gigawatt Global, an Israeli company which develops solar power, on Thursday broke ground on a new solar field in Solar Field in Burundi, Africa. This continues the long history of Israeli aid to African nations. Located 100 kilometers outside the Burundian capital of Bujumbura, the new 7.5 megawatt solar field will add 15 percent to the East African country’s power generation capacity. The $14 million project is being undertaken in one of the world’s least developed nations.
The company says that the largest private international investment in the power sector in Burundi in nearly 30 years, with the power being sold for 25 years to REGIDESO, the national electric company.
“Empowering economic and social development is at the heart of our green energy business,” said Michael Fichtenberg, VP for Finance and Business Development of Gigawatt Global. “This high impact development investment supported by leading international financial institutions signals that Burundi is open for development and business.” While owned by American and Dutch investors, Gigawatt is based in Israel.
Meanwhile, Israel Startup Nation’s Best Med Opinion Ltd, provider of second opinion and clinical services for physicians and patients, has entered into an agreement with American Interpace Diagnostics Corp. to be the exclusive provider of Interpace’s products for Israel.
Best Med boasts that it has developed a network of specialty providers in the U.S. and other countries to assist local physicians and patients in ensuring all clinical options are known and explored before a particular course of treatment is selected.
In other news, Can-Fite BioPharma Ltd, another one of Israel Startup Nation’s bio-med firms, announced that it has entered into definitive agreements with institutional investors to receive gross proceeds of $5 million. The Company will issue 2,500,000 registered American Depository Shares (ADSs) of Can-Fite at a purchase price of $2.00 per ADS in a registered direct offering. Additionally, for each ADS purchased by investors, the investors will receive an unregistered warrant to purchase 50% of an ADS. The warrants have an exercise price of $2.25 per ADS, shall be exercizable six months following the issuance date and will expire five and one-half years from the issuance date.
Israel’s Ceragon Networks Ltd. (NASDAQ: CRNT), announced that a tier 1 mobile operator in India continues to select Ceragon’s IP-20 Platform, having placed over $60 million in new orders so far in 2017 to significantly expand 4G LTE service coverage and increase network capacity. So Ceregon, which declares itself the #1 wireless backhaul specialist, is continuing Israel’s tradition of aiding in the development of technology in emerging nations, while increasing the bonds between one of the world’s fastest growing economies, India, and Israel Startup Nation.
And in what may have been the most important news about Startup Nation from the past week, Israel’s MedAware, an algorithm-rich software startup which states that it is dedicated to eradicating prescription errors, revealed the findings of a landmark study carried out by Harvard Medical School. The study showed that MedAware’s new data-driven technology can help to eliminate prescription errors and potentially save millions of patients’ lives every year.
The study analyzed records from almost 800,000 patients in order to assess the efficacy of MedAware’s solution. The results provided a comprehensive validation of MedAware’s disruptive solution, the company boasts. Dr. David Bates, a leading national Patient Safety expert and opinion leader, Professor of Medicine at Harvard Medical School, and a Professor of Health Policy and Management at the Harvard School of Public Health said, “It has been hard to find medication errors which come completely out of the blue – likely a medication used only in pregnant women which is ordered for an elderly male – but this approach detects orders which appear to be anomalous in some way, and it represents a very exciting new way to pick these errors up before they get to the patient.”
So overall it seems that Israel’s Startup Nation is getting off to a good start this year.Read more about: Best Med Opinion Ltd, Can-Fite BioPharma, Ceragon Networks, Feature Forward, FeFoX, Gigawatt Global, Israel Startup Nation, MedAware