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Jewish Business News


Israel High Tech Scene July 23 – 29

Tel Aviv

Tel Aviv at sunset, Israel Startup Israel

New Startups / VC Funding
Theator Raises $39.5 Million For Surgical Intelligence Platform
Theator, an Israeli medtech startup that offers a surgical intelligence platform, has raised an additional; $24 million as part of its Series A fundraising round led by Insight Partners with support from existing investors including Blumberg Capital, Mayo Clinic and others. This brings the total brought in from the round, which began in February, to $39.5 million.

Israelis have been leaders in the world in developing new medical technologies and treatments for diseases like cancer. And a number of Startup Nation firms have already made headline in the month of July. For example, Israel’s CathWorks… Read More Here

Kira Radinsky’s New Startup Diagnostic Robotics Raises $45 Million
Diagnostic Robotics, an Israeli medtech startup that uses artificial intelligence (AI) in its platform that helps to predict how patients will respond to certain treatments, raised $45 million in a Series B funding round. This is yet another successful startup for Kira Radinsky, who told Calcalist that Diagnostic Robotics was valued at several hundred million dollars in the round.

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Founded in 2017 by CEO Kira Radinsky, Yonatan Amir and Prof. Moshe Shoham, Diagnostic Robotics boasts that its powerful diagnostic system uses AI and predictive analytics models to solve a global challenge: strained health budgets… Read More Here

IPOs and Unicorns
Security Matters SMX Makes $360 Million SPAC NASDAQ Listing
Security Matters Limited SMX, an Israeli firm that has developed solutions to mark products to track them in the supply chain and ensure authenticity, has entered into a new deal to be listed on the NASDAQ after entering into a business combination with the SPAC Lionheart III Corp. The Israeli company will delist from the Australian Securities Exchange where it is currently traded as a public company.

The new combined entity is expected to commence trading on the NASDAQ in Q4 2022… Read More Here

Mergers and Acquisitions
Lemonade Completes Metromile Acquisition At Greatly Reduced Valuation
Lemonade, an Israeli insurance company powered by AI and social impact, closed its acquisition of car insurance provider Metromile. Metromile shareholders received 7.3 million Lemonade shares, while Lemonade received a business with over $155 million in cash and over $110 million in premiums. But this amounts to roughly 75% less in total valuation than when the deal was first announced.

The merger of Lemonade and Metromile was first… Read More Here

Stratasys Takes Poison Pill To Block Nano Dimension Takeover Bid
Israeli 3D printer manufacturer Stratasys, a publicly traded company, has taken what is commonly referred to as a “poison pill” – also known as a Shareholder Rights Plan – in order to prevent a takeover attempt by Nano Dimension. To do so, Stratasys filed a shareholder Rights Plan with the US Securities and Exchange Commission (SEC).

The move came after Nano Dimension, an Israeli company in the 3D printed electronics field, bought up a 12% share of Stratasys stock… Read More Here

Other Business Stories
Is Startup Nation In Trouble? 9 Companies Have Made Big Lay Offs So Far In July
Israel Startup Nation is known for being the world’s biggest per capita success in the world of high-tech. Billions a year in new investments are brought into the country from foreign investors every year. But so far in the month of July, it looks like Startup Nation may be turning into “close up nation.”

Since July 1st, 9 Israeli firms have been forced to make cutbacks in their staffs, laying off many employees. This includes four unicorns…. Read More Here

AID Genomics Fires 400, More Than 500 Israeli High Tech Workers Get The Axe In One Day
Aid Genomics, an Israeli firm that develops molecular diagnostic technologies designed to elucidate the genetic DNA profiles of both diseases and patients alike, announced on Sunday that it is shuttering its research and development center and firing 400 employees. The news comes on the same day that America’s Asurion revealed that it is shutting down its Israeli research and development subsidiary Soluto, costing 120 people their jobs making for a total of 520 layoffs in Israel in one day.

AID Genomics is best known for having developed testing…. Read More Here

Asurion Shuttering Israeli Subsidiary Soluto, Kornit Digital Lays Off 30
In more bad news for Israel Startup Nation, America’s Asurion is shutting down its Israeli subsidiary Soluto, costing 120 people their jobs in the country. Most will see the end of their tenures soon while about a third will be kept on until the end of the year. And as if that were not bad enough, Kornit Digital, maker of industrial inkjet printers, is firing about 30 people.

Asurion provides insurance for smartphones, tablets, consumer electronics, appliances, satellite receivers and jewelry. The company also provides repair and maintenance services. Saluto was founded in…. Read More Here



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