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Israel High Tech Scene Week In Review November 7 – 14

Tel Aviv

Tel Aviv at sunset, Israel Startup Israel

Israel High Tech Scene Nov 7 – 14

New Startups / VC Funding
ControlUp Raises $100 Million For Employee Management
ControlUp, an Israeli startup that offers a new Digital Employee Experience DEX management platform, completed a $100 million funding round, co-led by K1 Investment Management and JVP… Read More Here

TriEye Raises $74 Million For Sensor Solutions
TriEye, an Israeli startup that develops the world’s first CMOS-based Short-Wave Infrared (SWIR) sensing solution for mass-market applications, has raised $74 million of new capital in a round led by M&G Investments and Varana Capital, with the participation of Samsung Ventures, and others. The raise brings TriEye’s total funding to date to $96 million… Read More Here

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Four Israeli Inventions Included In TIME List Of The 100 Best Inventions For 2021
Four Israeli technology companies were included in TIME magazine’s list of The 100 Best Inventions this year for innovations “that are transforming how we live, work, play, and think about what is conceivable,” the magazine announced Wednesday.

Six Israeli inventions were included in TIME’s 2020 list, and nine inventions the year before… Read More Here

SafeBreach Raises $53.5 Million For Cybersecurity
SafeBreach, an Israeli cybersecurity startup that offers a service in breach and attack simulation (BAS), raised $53.5 million in a Series D funding round, led by Sonae IM and Israel Growth Partners (IGP). Carlos Alberto Silva, Managing Partner at Sonae IM, and Assaf Harel, General Partner at IGP, will be joining the SafeBreach board, and Scott Frederick… Read More Here

Pharmocann To Develop Drugs Based On Magic Mushrooms
Pharmocann, an Israeli firm that specializes in medical cannabis products, has established a joint venture with the Shamir Research Institute to conduct research and development on psychedelic medications derived from psilocybin semilanceata mushrooms (magic mushrooms)… Read More Here

IPOs and Unicorns
Gett Taxi Ready For $1 Billion IPO
Gett, an Israeli based international taxi services company, is ready for a $1 billion initial public offering IPO. Gett will do so after entering into an SPAC merger with Nasdaq-traded special purpose acquisition company Rosecliff Acquisition Corp I. The company will officially be known as Gett Inc. and trade under the ticker symbol “GETT.”

The deal will bring in… Read More Here

Todays Unicorn: Lusha Reaches $1.5 Billion Valuation With $205 Million Funding
Lusha, the crowdsourced data community for B2B sales and marketing professionals, said today that it has raised $205 million in a Series B fundraising round, valued at $1.5 billion and elevating the firm to unicorn status.

The round was headed by… Read More Here

OpenWeb Is Latest Israeli Unicorn With $150 Million Raise
Israeli startup OpenWeb, which offers a media readership engagement management platform, is Israel’s latest Unicorn. OpenWeb hit the coveted mark with a $150 million Series E financing round led by Insight Partners and Georgian Partners. OpenWeb has raised $220 million to date.

Startup Nation keeps on setting records… Read More Here

AIM Has $4 Billion To Invest In Climate-Smart Agriculture And Food Systems Innovation
The Agriculture Innovation Mission for Climate (AIM for Climate) is a new initiative led by the United Arab Emirates (UAE) and United States (US) with the support of over 30 government countries from six continents including the recent addition of Canada, and the United Kingdom, as well as Israel. It had its official launch at the UN Climate Conference in Glasgow on November 2 and… Read More Here

Mergers and Acquisitions
Israel’s Lemonade Buys America’s Metromile For $500 Million
Lemonade, an Israeli insurtech firm powered by AI, has bought ought Metromile, an American data science company focused on auto insurance. Lemonade will acquire Metromile in an all-stock transaction that implies a fully diluted equity value of approximately $500 million, or just over $200 million net of cash… Read More Here

Israel’s OrthoSpin Bought Buy Synthes GMBH For $80 Million
OrthoSpin, an Israeli medtech startup that develops robotic orthopedic tech for bone lengthening and the treating complex fractures and limb deformities, has been sold to Synthes GMBH for $79.5 million. OrthoSpin was part of the Trendlines Group which held a 26.9% stake in the company… Read More Here

Traffilog And SafeRide Merge, Headed To SPAC IPO
Israeli autotech companies Traffilog and SafeRide which only just merged are working on their initial public offering IPO. They plan to go public through an SPAC merger, according to a report in Calcalist which set the value of the new company at $1 billion… Read More Here

Minute Media Buys Wazimo For As Much As $70 Million
Minute Media, an Israeli content technology company, has acquired Wazimo, an Israeli startup that helps content based businesses grow their audiences. The deal is reportedly for somewhere from $60 to $70 million. Wazimo is described as a “bootstrapped” startup which means that it was founded very very little capital… Read More Here

Israeli Video Co Wibbitz Sold To Vimeo For A Loss
Vimeo, the publicly traded all-in-one video software solution, has agreed to acquire Israeli startup Wibbitz, a leading enterprise video creation suite. The purchase price was not revealed, but Calcalist has reported that it will be less than the $30 raised to date by Wibbitz in investments… Read More Here

Other Business Stories
Malkin Holdings’ Empire State Adding Residential To Its Portfolio
Peter Malkin’s Empire State Realty Trust (ESRT), which owns more than 10.1 million square feet of space in its office and retail portfolio, including the Empire State Building, has entered into conditional agreements to acquire two multifamily properties in Manhattan totaling 625 apartments for $307 million. This is according to a filing with the United States… Read More Here

Barstool Sports Founder Dave Portnoy Hurting From Sex Allegations
Dave Portnoy, the founder of Barstool Sports, is in hot water over recent allegations of sexual misconduct. And this may be hurting his business. But now Dave Portnoy is fighting back… Read More Here

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Meta Takes Action On ‘Harmful’ Ads On Facebook And Instagram
Meta, the newly created parent company of the world’s top two social media behemoths Facebook and Instagram, has announced new policies to better police the ads that appear on its services. Instagram and Facebook have both been under fire lately after it was revealed that they knew that both content and advertising on their platforms were… Read More Here

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