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Jewish Business News

StartUps

Israel High Tech Scene August 27 – September 2

startup nation

Tel Aviv at sunset, Israel

New Startups / VC Funding
Theranica Raises $45 Million For Migraine Treatment
Theranica, an Israeli medtech startup and prescribed digital therapeutics company that is developing advanced neuromodulation devices for migraine and other idiopathic pain conditions brought in $45 million in a Series C funding round.

Founded in 2016, Theranica says that it brings electrical neuromodulation therapy to a new level. The International Neuromodulation Society (INS) defines therapeutic neuromodulation as “the alteration of nerve activity through targeted delivery of a stimulus, such as electrical stimulation or chemical agents, to specific neurological sites in the body.” In appropriate patients, this growing class of… Read More Here

Israel’s MySize Brings Clothing Tech To $33 Billion Brazilian Apparel Market
MySize, Inc., a publicly traded Israeli company that offers AI-driven automated clothing size measurement technology to drive revenue growth and reduce costs for its business clients, has formed a joint venture with Brazilian fashion firm Santista Têxtil, to expand the reach of both Santista and MySize to hundreds of leading Brazilian brands and online retailers in the country’s $33 billion apparel market.

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Santista has 93 years of experience in the Brazilian market and has become a national and global leader in fashion, trends, quality, and innovation by creating premium textiles that use the latest technology and sustainable solutions… Read More Here

Fairmatic Raises $42 Million For Commercial Auto Insurance Tech
Fairmatic, an Israeli startup specializing in Insurtech 2.0, raised $42 million in a Series A funding round led by Foundation Capital. With this round, the company came out of stealth with its service which it describes as an unconventional approach to fleet insurance “focused on enabling savings for safer fleets and improving road safety for all.”

Insurtech 2.0 is basically the second level of the merger of high tech with insurance services…. Read More Here

Landa Raises $33 Million For $5 Real Estate Investing Platform Using Benny Landa’s Tech
Landa, an Israeli startup that offers a platform for investing in real estate, raised $25 million in a Series A funding round, led by NFX, 83North, and Viola Ventures. The company has now raised a total of $33 in investments million to date, in addition to raising $62 million in debt financing. Using tech from Benny Landa’s Landa Digital Printing, Landa enables individuals to access the real estate market for as little as $5.

Founded by CEO Yishai Cohen and Amit Assaraf, Landa boasts that it has developed a unique digital technology called Nanography. It calls this a new category of printing for the commercial, packaging and… Read More Here

Leadgence Becomes Tarci Raises $17 Million
Tarci, an Israeli startup that offers a continuous intelligence engine that generates dynamic data on Small and Medium-Sized Businesses (SMB), just changed its name from Leadgence. And the company also just raised $17 million in a Series A round of funding led by Sound Ventures, with participation from Liberty Mutual Strategic Ventures, Global Founders Capital, and additional strategic investors.

Most new tech is geared for big businesses, such as enterprise software and cyber security. The new human resources management, accounting… Read More Here

Mermade Seafoods Raises $3.3 Million For ‘World’s First’ Cultivated Scallops
Mermade Seafoods, an Israel foodtech startup working in the field of developing alternatives to animal based foods, has raised $3.3 million in a seed round of funding from investors OurCrowd, US VC fund Fall Line Capital and Dutch investor Sake Bosch. The company is developing what it says is the world’s first-ever cultivated scallops.

Scallops are a popular type of sea food that offer protein… Read More Here
IPOs and Unicorns

Other Business Stories
Otonomo In Danger Of NASDAQ Delisting, Making Layoffs
Otonomo Technologies Ltd., an Israeli mobility intelligence company, is the latest Israel Startup Nation firm to make cutbacks in its workforce and is even in danger of being dropped from the NASDAQ as a publicly traded company. The company, which only went public on the NASDAQ a little over a year ago and once held a market cap of well over $1 billion, lost 90% of its value over time and is now worth just $62 million.

The company’s stock has plummeted so low – just $0.45 as of Friday’s close… Read More Here

Israeli Invites American Christian Tourists To New Archeology Program
Israel is now offering a new program that invites American Christian tourists to participate in archaeological excavations throughout Israel. The Israel Ministry of Tourism, working with EO Tours and Sar-El Tours, is promoting the new tourism package in partnership with the Museum of the Bible and the Israel Nature and Parks Authority.

Coming out of a two year period where tourism was non-existent because of the Covid crisis, it certainly makes sense that Israel is doing whatever it can to… Read More Here

Hippo Insurance Firing 10% Of Workforce
Hippo Holdings Inc., a home insurance group, is the latest Israel Startup Nation firm to be forced to make cutbacks. The company just fired 10% of its workforce or 70 employees. At the same time, Ran Harpaz will step down as the company’s COO and CTO in November.

The company’s value dropped sharply on the news. Hippo Insurance’s stock plummeted from a high of more than $14 a share to just under $1 as of the end of trading Wednesday. Once worth billions, the company’s market cap has fallen to just $555.19 million today… Read More Here

5,600 Mile Drive: Bruce Gurfein Makes Call For Middle Eastern Agrotech Startups
Bruce Gurfein, a serial entrepreneur in the United Arab Emirates (UAE), completed a 5,600 mile (9,000 km) road trip across the countries the UAE, Saudi Arabia, Jordan, Bahrain, and Israel, the first conducted in modern history. The trip was made to promote the launch of Future Gig, a UAE-based agrotech startup accelerator.

From Dubai to Jerusalem via Saudi Arabia, Jordan and Israel it took 38 hours of 5 days driving a Nissan Armada, covering more than 3,580 km with stops in major cities on the way. During the 20-day journey, Bruce Gurfein and his trip…. Read More Here

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