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Israel High Tech Scene Week in Review August 22 – 28

Tel Aviv at sunset, Israel Startup Israel

New Startups / VC Funding
Israeli Startup Upstream Security Raises $62 Million for Auto Security Solutions
Israeli automotive cybersecurity and data analytics startup Upstream Security has raised $62 million in a Series C round of investment, led by Mitsui Sumitomo Insurance (MSI), a subsidiary of MS&AD Insurance Group Holdings, Inc. Upstream Security has now raised a total of $105 million in… Read More Here

Israeli Startup VisIC Raises $35 Million For Automobile High Tech
VisIC Technologies, an Israeli startup that develops high-power auto-tech solutions has completed a $35 million funding round led by GoldenSand Capital and HG Semiconductors, through Fast Semi Corporation. SuZhou industrial partner joined the investment round as a co-investor with an additional… Read More Here

Israeli Cyber Company Hunters Raises $30 Million
Hunters, an Israeli cybersecurity startup that develops a new platform designed to protect organizations’ cloud based operations from intrusion and unidentified attacks on the cloud, has raised $30 million in Series B funding led by Bessemer Venture Partners. Hunters counts Blumberg Capital and Microsoft’s Venture Fund M12 among its… Read More Here

Israeli InsurTech Startup Sayata Raises $17 Million
Sayata, an Israeli insuretech startup that offers a solution for insurance brokers and carriers to grow their business insurance portfolios, has raised $17 million in series A funding. Team8 Capital and Vertex Ventures led the round, which joined original investors Elron, Kamet, and OurCrowd… Read More Here

Veego Smart Home Tech Provider Raises $13 Million
Veego Software is an Israeli startup that provides new tech for connected home customer experiences. Veego just raised $13 million in a Series A financing round led by Magenta Venture Partners, a venture capital firm focused on early-stage Israeli startups in the artificial intelligence (AI), IoT, and enterprise software domains… Read More Here 

IPOs and Unicorns
Landa Digital Printing Headed To $2 Billion NASDAQ IPO
Benny Landa’s Landa Digital Printing is planning an SPAC merger ahead of a NASDAQ IPO. Calcalist reported exclusively that Landa Digital Printing expects to come away with a $2 billion valuation. Bank of America is said to… Read More Here

Mergers and Acquisitions
Israel’s MCP Performance Plastic Bought by Danish Firm Faerch
Israeli manufacturer of trays for the food industry MCP Performance Plastic has been acquired by Danish manufacturer of food packaging solutions, Faerch for €57 million ($67 million). This was the figure set for MCP’s valuation at the end of 2020… Read More Here

Other Business Stories
Israel’s REE Automotive Gets $17 Million Funding from British Government
REE Automotive, the Israeli company that develops new tech for electric vehicles, was awarded £14 million ($19 million) from the UK Government, coordinated through the Advanced Propulsion Centre (APC).

The UK government said that its investment… Read More Here

New NIS 4 Billion Triple Tower for Israeli Diamond Exchange
Two companies, BSR and Israel Canada, have won a tender to build a new three tower 60 floor project in Ramat Gan. The two companies bid NIS 937 million ($291 million) for the rights to the land and to build the new complex. The development itself will reportedly cost NIS 4 billion ($1.25 billion) to… Read More Here

TASE Makes Real-Time Trading Data More Accessible To Private Investors
The Tel-Aviv Stock Exchange (TASE) has issued a proposal for a significant reduction of the cost of real-time data to private investors.

TASE explained that two years ago the exchange made what it describes as a significant move by enhancing the accessibility of trading data and enabling the display of real-time streaming data to private investors… Read More Here

Bank of Israel Keeps Interest Rate Unchanged At 0.1 Percent
The Monetary Committee of the Bank of Israel has decided to leave the interest rate the same at 0.1 percent. This is good news for all of the people struggling due to the worldwide Coronavirus pandemic. By not raising rates, the Bank of Israel will hopefully make it easier for Israel’s economy… Read More Here

IAI Signs $235 Million Deal with German Navy
Israel Aerospace Industries (IAI) has signed a €200 million ($235 Million Deal) to supply new radar systems to the German Navy. IAI will upgrade the tech on board Germany’s F124 air defense frigates. The new contract will be carried out with German sensor solutions provider Hensoldt… Read More Here

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