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Jewish Business News

StartUps

Israel High Tech Scene August 20 – August 26

startup nation

Tel Aviv at sunset, Israel

New Startups / VC Funding
AccessiBe Raises $58 Million For Making Websites More Accessible
AccessiBe, an Israeli startup that offers a platform for making websites accessible to people with disabilities, raised $30 million in an extension of its Series A round led by private equity firm K1 Investment Management LLC. The funding round has now brought in a total of $58 million in investment.

Yes, it is true! There are issues with website access… Read More Here

Can Renewal Bio Use Cloning Tech For Transplants?
Renewal Bio, an Israeli medtech startup, is developing a way to “clone” human organs by harvesting a person’s genetic material from stem-cell technology and embryos. So, a cloned embryo will be created and then harvested for the genetic materials within it.

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The U.S. is currently going through a major social upheaval over abortion. This came after its Supreme Court recently overturned 50 years of…. Read More Here

Israeli Startup Sign Now Breaks Down Barriers With Sign Language Interpretation App
Sign Now is an Israeli start-up that specializes in on-demand sign language translation for the deaf community – anywhere and anytime. Its app allows deaf people from different countries to communicate with one another. And the Israeli company is even helping Palestinians in Gaza.

Believe it or not, there is no international sign language. Every language has its own version of sign language for the deaf. There are not even international signs…. Read More Here

SaNOtize Raises $34 Million To Fight Antibiotic Resistant Bacteria
SaNOtize Research & Development Corp., an Israel startup that is focused on new anti-infective therapeutics, raised $34 million in a Series B funding round co-led by Horizons Ventures and OurCrowd, with participation from ABC International. The lead treatment in the company’s pipeline is its nitric oxide nasal spray (NONS™), shown in clinical studies to treat and prevent COVID-19 infection.

Founded in 2017 by Dr. Regev and Chief Scientific Officer and Co-Founder… Read More Here

Rookout Raises $16 Million For Debugging Tech
Rookout, an Israeli startup that develops an observability platform for the debugging of code, raised $16 million in a Series B funding round led by Fort Ross Ventures.

Do you really know what they mean when they say there is a bug in a program? Have you ever had your Windows freeze – or even crash – for no apparent reason? How often do you need to close a program and the reopen it because something did not work properly? This is what they mean by a bug in a program… Read More Here

IPOs and Unicorns
Already A Unicorn, BigPanda Nets Another $15 Million
BigPanda, an Israeli unicorn that develops an AIOps event correlation and automation platform, has raised an additional $15 million in new investments from existing customers UBS and Wells Fargo. This raise is an extension of the company’s $190 million raise made in January which at the time turned BigPanda into a unicorn – a startup worth at least $1 billion – with a $1.2 billion valuation.

AIOps is defined as the application of analytics and machine learning to big data for the purpose of automating and improving IT operations. The AI… Read More Here

Mergers and Acquisitions
Israel’s At-Bay Acquires Relay For Specialty Insurance
At-Bay, an Israeli startup and a unicorn that insures organizations against cyber threats, is expanding. The company bought out Relay, a technology solutions provider enabling the digital transformation of commercial insurance placements. The purchase price was not disclosed.

At-Bay has plenty of cash on hand for the acquisition. In July 2021, the At-Bay raised $185 million in a Series D, and added another $20 million to that a few months later… Read More Here

Other Business Stories
Leviathan And Tamar Push Israel’s Natural Gas Royalties To Skyrocket By 50% In H1 2022
Revenues from Israel’s natural gas fields jumped by almost 50% in the first half of 2022. Israel has several natural gas fields off its coast in the eastern Mediterranean Sea, like the Tamar and Leviathan, that were discovered in recent years. Their value is part of the reason that the terrorist group Hezbollah, which is based in Lebanon, is pushing the claim that some of the gas fields are really in Lebanese territorial waters and threatens to bomb them if Israel does not cease its operations there.

Data presented by the Royalties Division of Israel’s Ministry of Energy shows that… Read More Here

The Bank Of Israel Raises Interest Rates Again – This Time To 2%
The Monetary Committee of the Bank of Israel (BOI) raised interest rates for the second time in the last two months. This time the BOI raised the interest rate by 0.75 percentage points to 2 percent.

The BOI said that the Israeli economy is recording strong growth, accompanied by a tight labor market and an increase in the inflation environment. The Bank of Israel Monetary Committee explained that this, in part, is why it decided to continue the process of increasing the interest rate. The pace of raising the… Read More Here

Israeli Retailer Global-E Cuts Deals With Kim Kardashian, Justin Bieber And Disney
Kim Kardashian is coming to the rescue! Well, she has entered into a deal with Israeli online retailer Global-e, that is. And so have Disney and Justin Bieber.

Global-e announced recently that the firm had added several celebrity brands and other “fast-growing digitally native brands”, such as Justin Bieber’s fashion brand drew house. Drew house is a popular clothing line offered by the musician Justin Bieber and Ryan Good. The name comes from Bieber’s middle… Read More Here

Reali Real Estate Startup Goes Bust
Reali is a real estate and fintech company that offers services for home buying and selling. Or rather, it was. In yet another blow to Israel Startup Nation caused by the ongoing worldwide financial crisis, the company revealed that it is shutting down its operations and expects to let go of most of its workforce by September 9.

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The shutdown comes after Reali brought in $250 million in funding in April 2021. But numerous Israeli firms have been forced…. Read More Here

Bankrupt Celsius Sues Former Money Manager
Celsius Network was an Israeli fintech startup and a unicorn that worked in the crypto industry. But Celsius was forced to declare bankruptcy in July. So, now Celsius is suing former investment manager Jason Stone accusing his company KeyFi of “gross negligence” and “extraordinarily inept” crypto investing.

In the lawsuit, which was filed on Tuesday, Celsius Networks alleged that Stone misappropriated assets in the amount of $17 million to buy hundreds of non-fungible tokens (NFTs) that he kept in a separate location so the company…. Read More Here

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