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Jewish Business News

StartUps

Israel High Tech Scene May 28 – June 3

Tel Aviv

Tel Aviv at sunset, Israel Startup Israel

New Startups / VC Funding
Ultima Genomics Raises $600 Million To Map Human Genome
Ultima Genomics, an Israeli startup that works to advance genomic knowledge to “deliver the $100 genome,” came out of stealth mode and revealed that it has already raised $600 million in funding to date. The company did not reveal what its valuation may be, but its investors include general Atlantic, Andreessen Horowitz, D1 Capital, Khosla Ventures, Lightspeed.

This is an example of where the interests of the business world … Read More Here

Top 10 Biggest Fundraises For Israel Startup Nation In May
The hits for Israel Startup Nation keep on coming. In May, there were no fewer than 10 Israeli startups that brought in at least $100 million in new financing from investors .… Read More Here

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Israeli Sports Camera Pixellot Raises $161 Million At $500 Million Valuation
Pixellot, an Israeli AI-based sports camera solution, has raised $161 million at a valuation of $500 million in a Series D round, according to Calcalist. The investment round includes secondary transactions in which investors and workers will buy shares.

The round was led by Providence Strategic Growth (PSG). In the secondary sales will participate Altshuler Shaham and Meitav Dash, the Arkin family, and Ohad Fridan …Read More Here

Israel’s Air Doctor Connects World Travelers With Local Doctors
Air Doctor, an Israeli startup that combines medical care and travel, secured $20 million in funding led by Lightspeed Venture Partners, which it says will be used to scale the company globally. The company explained this its second round of investment capitalized on the worldwide influx in travelers after the Covid-19 pandemic.

Think about that for just a second. How many times have you been abroad and your health insurance did not cover your medical expenses while outside of your country of residence. Or maybe it did provide coverage, or you had some sort of travelers’ insurance … Read More Here

IPOs and Unicorns
Top Israel Startup Nation Unicorn Stories From May
Being a unicorn these days is getting to be less and less of a special thing, at least in Israel. Maybe they will need to raise the definition of a unicorn from $1 billion plus to over $10 billion. Either that or they will have to start calling them rabbits instead of unicorns …. Read More Here

(Almost a unicorn)

Coralogix Data Analytics Now Worth More Than $900 Million

Coralogix, an Israeli startup that offers a service for streamlining analytics, raised $142 million in a Series D financing round led by new investors Advent International and Brighton Park Capital. Coralogix has now raised $328 million to date and some estimates put its valuation at above $900 million, approaching unicorn status.

Founded in 2014, Coralogix helps software companies avoid getting lost in their log data by automatically figuring out their production problems. The company says that they machine learning powered platform turns …. Read More Here

Mergers and Acquisitions
FedEx-Backed Freightos Merges With Gesher SPAC At $435 Million Valuation
Israeli startup Freightos, which has developed a platform for comparing prices, pricing, ordering and payment for real-time transportation and shipping services, will go public via its partnership with blank-check provider Gesher I Acquisition Corp.

The merger is estimated at a market value of $ 435 million and … Read More Here

Top Israel Mergers & Acquisition Stories From May

Startup Nation Israel is known for its big exits. While many of its startups made a fortune going public, others took a different route to their exits – they sold out …Read More Here     

Other Business Stories
Israeli Mobile Gaming Developer Playtika, To Lay Off 250 Employees
Israeli mobile gaming company Playtika starting today with global layoffs, amidst worries that the world economy is approaching a recession. The company is focusing on game production facilities in Europe and North America, Israeli business newspaper Globes reported.

The rise in interest rates and rampant inflation, along with the recovery from the COVID pandemic, reduce the number of people confined to their homes, hence decreasing the quantity of time and money spent on video games …Read More Here

Israel PM Naftali Bennett Tours Rafael’s New ‘Iron Beam’ Laser Defense System
Prime Minister of Israel Naftali Bennett visited a Rafael facility in the north of the country where Bennett was briefed on the Iron Beam laser system.

This is a part of Israel’s renowned Iron Dome missile defense systems. The Iron Dome is so successful at shooting down rockets and missiles – like those Hamas shoots at civilian targets in southern Israel – that it has become the envy of the world. Even the U.S. military envies Israel’s advancements in defense tech … Read More Here

Cybereason Is Laying Off 100 Jobs In The United States, Europe, And Israel
Israeli cybersecurity company Cybereason is laying off around 100 employees out of the total 1,500 people the company has today in Israel and worldwide.

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According to the company’s LinkedIn, over the past year, Cybereason’s employment had increased by 61 percent and 122 percent over the past two years … Read More Here

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