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Jewish Business News

StartUps

Israel High Tech Scene June 18 – June 24

Tel Aviv

Tel Aviv at sunset, Israel Startup Israel

New Startups / VC Funding
PlayerMaker Raises $40 Million For Sports Performance Tracker
Playermaker, an Israeli startup that offers a wearable performance tracker for athletes, raised $40 million in funding led by Ventura Capital Group, with additional investment by MIG Capital, Pegasus Tech Ventures, and others. Playermaker has now raised $50 million to date. Its original investors include Arsène Wenger, former manager of England’s Arsenal Football Club.

Founded in 2016, by Guy Aharon, Yuval Odem, and Moran Gad, PlayerMaker has… Read More Here

Cyberint Cyber Security Raises $40 Million
Cyberint, an Israeli cyber security startup, has raised $40 million in a Series C round of funding led by StageOne Late Stage Arm (Backed by Clal Insurance, Menora, and Bank Hapoalim), Neva SGR – part of Intesa Sanpaolo Group – Italy’s largest bank, and Viola Growth. In addition, Cyberint also acquired another $12 million in credit giving it a total of $40 million in new cash on hand.

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When people think of Israel they probably think about defense and security. And when they think about Israel Startup Nation they probably think about cyber security firms. It was the success of cyber security firm Check Point back in the 90s that played a large role in the establishment of the Startup Nation phenomenon… Read More Here

Fido Fintech Raises $30 Million For Africa Expansion
Fido, an Israeli fintech startup that specializes in bringing modern tech for banking and finance to the poorer nations of Africa has raised $30 million in a Series A financing round led by Fortissimo Capital. The company has now raised $38 million to date and plans on furthering its African activities, specifically in Ghana where Fido is based.

An Israeli startup working to help third world nations – African nations – modernize so that their peoples can achieve a better standard of living… Read More Here

Israeli Food-Tech Wilk Breakthrough In Producing Mother’s Milk
An Israeli food-tech startup, Wilk Technologies, has announced a breakthrough in its development of cultured breast milk. The company successfully produced an essential cell-based breast milk protein, lactoferrin, in the lab.

As a result of this development, Wilk becomes one of the first in the world to get closer to commercial production of mother’s milk. It follows the startup’s receipt of U.S. patent approval for its cell-based animal and human breast milk production techniques and technologies… Read More Here

Israeli Startup AiVF Raises $25 Million To Advance Fertility Tech
AiVF, an Israeli startup that works at advancing technology for fertility treatments such as in vitro fertilization (the IVF in AiVF), raised $25 million in a Series A round led by Insight Partners, and including funding from WeWork founder Adam Neumann’s Family Office. The name AiVf is a combination of artificial intelligence (AI) and IVF. The company developed the first fully operational AI-based IVF software platform – EMA.

Founded in 2018, by CEO Daniella Gilboa together with Daniel Seidman, AiVF states that it was established to help people who dream of having a child, and the doctors and clinics that support this dream…. Read More Here

IPOs and Unicorns

Pagaya Closes SPAC Merger Ahead Of IPO At $8.5 Billion Valuation
Pagaya Technologies, an Israeli fintech startup, completed its previously announced business combination with EJF Acquisition Corp, a special purpose acquisition company (SPAC) for the startup’s initial public offering (IPO). The plans were first revealed in January and Pagaya shareholders approved the deal on June 16, and EJFA’s shareholders on June 17.

The newly listed public company is called Pagaya Technologies Ltd. and its Class A ordinary shares and public warrants will begin trading on the Nasdaq stock market beginning on June 23, 2022 under the… Read More Here

Mergers and Acquisitions
Leonardo DRS Buys Israeli Radar Company RADA For $670 Million
RADA Electronic Industries Ltd., an Israeli company that develops tactical radar technologies, has been acquired by Leonardo DRS Inc., a mid-tier defense technology provider in a deal worth an estimated $670 million. According to the agreement the two will enter into an all-stock merger and become a combined public company.

Rada has been publicly traded on the NASDAQ since 1985… Read More Here

Israeli Fintech Company Global-E Buys Borderfree For $100 Million
Global-e, an Israeli fintech company offering services in commerce and retail, is buying the Borderfree cross-border e-commerce solutions business from its parent company the global shipping and mailing firm Pitney Bowes. Global-e will acquire Borderfree for approximately $100 million, financed with cash, and complete the acquisition by the end of Q3 2022.

Borderfree helps retailers enter new global markets by localizing their domestic website in 200+ countries and territories, simplifying compliance and regulation processing. Borderfree is expected to… Read More Here

America’s Starburst Buys Israeli Data Analytics Startup Varada For $60 Million
Varada, an Israeli startup and data lake analytics accelerator, has been acquired by American firm Starburst, the analytics anywhere company. The purchase price was not disclosed, but Calcalist cited sources as saying that it is for about $60 million.

In addition to its technology, Varada engineering and product leadership will be joining the Starburst team. The integration of the technology is expected to roll out to select customers in the next 30 days, with general availability by fall 2022… Read More Here

Comcast Is Acquiring Levl Technologies For $50 Million
American telecommunications behemoth Comcast is acquiring Levl, an Israeli startup that authenticates wireless devices and can help prevent hacking, for $50 million, reported Calcalist. Comcast will reportedly use Levl’s offices in Israel for a new R&D center.

Comcast is an entertainment company that owns and operates cable companies as well as NBC/Universal, both the studios and all of their affiliated networks…. Read More Here

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SilverByte Hotel Management Selling To Priority Software For A Rumored $35 Million
SilverByte, a 30 year old Israeli company that specializes in hotel management software and systems, is selling out to Priority Software which is owned by global growth private equity firm TA Associates and Israeli private equity firm Fortissimo Capital. According to a report in Calcalist the deal is worth around $35 million.

SilverByte was owned by Israeli businessman Avi Moscona, who passed away four years ago. Calcalist reported that his heirs have decided to unload the company… Read More Here
Other Business Stories
Chickens Will No Longer Be Held In Cages In Israel From 2037
Israel bans holding chickens in cages beginning in 2037. Israel is one of the first 18 countries in the world to ban the use of cages for laying hens.

The 2022 Animal Welfare Regulations (The rearing and keeping of laying hens) were approved by the Knesset’s Education Committee.

The regulations adopt for the first time modern Western standards… Read More Here

Netflix CEO Ted Sarandos In Israel Lobbying Against Local Productions Quotas
Ted Sarandos, the CEO of Netflix, is currently visiting Israel where he is lobbying the government of that country to drop plans to require streaming services to offer a minimum amount of locally produced programming. Sarandos has already met with President Isaac Herzog and Israel’s Minister of Communications Yoaz Hendel.

Netflix is worried that such a requirement could hurt its plans… Read More Here

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