Connect with us

Hi, what are you looking for?

Jewish Business News

VC, Investments

Igal Raichelgauz Raises $20 Million In Series C Funding For Cortica, Image Identification Technology

Raichelgauz, co-founder and  CEO of the Israel based image identification technology company intends to take advantage of the latest round of   investment to fund the company’s expansion into new markets.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.


 Cortica : Igal Raichelgauz and Ynon Kreiz

Igal Raichelgauz, co-founder and  CEO of Cortica, among the leaders in image identification technology capable of recognizing  and identifying these items and defining whether they have  inanimate or human raised an additional $20 million in Series C funding, bringing the total amount raised in funding for Cortica since the company was formed in 2007 to $38 million.

Principal participants in the Series C funding round are the Russian company, who have taken part in the two previous  funding rounds, Horizon Ventures, the highly active Hong Kong-based venture capital fund owned by Israeli high-tech entrepreneur Ynon Kreiz, the former chairman and CEO of the Endemol Group and current executive chairman of Maker Studios also taking part.  Kreiz also serves as Cortica’s chairman.

Igal Raichelgauz  teamed up with Yehoshua Zeevi and  Karina Odinaev fellow students at the Technion, Israel Institute of Technology in Haifa in 2007 to form Cortica, sharing a joint vision that would see them make radical changes in how computers’ approach the absorption of both images and video. Cortica’s primary technology, which is known as CorTex has been honed over the years so that now allows highly accurate simulation of the human cortex, which in turn helps it to virtually recognize images and can therefore can interpret the content appearing in the media in question.


CorTex has been designed to work in tandem with an additional piece of technology developed by the design team at Cortica, which they have titled Image2Text. Amage2Text is capable of both identifying and setting  automatic concepts and key elements from any form of media once it has been identified, and map it to a series of textual keywords, as well as classified the keywords according to their level of importance.

The Cortica systems have now been developed to such a level that they are able to make a connection between an image and the commercial brand behind it, as well as the faces of different characters and display their names amongst a number of other features.

The primary audience for Cortica systems are  advertising networks, can make use of the technology on offer  to analyze the most relevant content.

Despite the dramatic success that the company has achieved,  Cortica have remained loyal to their roots,  with their principal offices situated in  Haifa, whilst  running a development center in Ramat Gan, as well as two offices in the United States, one in California and the other in New York.


Igal Raichelgauz graduated with   a bachelor of science degree in electrical engineering from the Technion after he had completed his Israeli army service, serving in the elite 8200 intelligence unit, where he  was part of a team of data production and analysis specialists.

After completing his army service and University education Igal began his professional career as a product engineer and technical leader in Intel’s product development division, leaving them to join Liquid Comp Bit (LCB), a real-time voice recognition start-up, where he served as chief technology officer.

Igloo is also a co-founder of Figment, who supply advanced content services for Israeli cellular network providers.



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.