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Jewish Business News

StartUps

Israel High Tech Scene September 10 – September 16

Tel Aviv

Tel Aviv at sunset, Israel Startup Israel

New Startups / VC Funding
Zesty Raises $116 Million For AI-Driven Cloud Management
Zesty, an Israeli startup that develops an AI-powered cloud management platform, raised $75 million in a Series B funding round led by B Capital and Series A investor Sapphire Ventures. Zesty has now raised a total of $116 million to date and says that its customer base has grown by 127% from 2021 to 2022 and that the company has tripled its revenue since its Series A funding round held last year.

Zesty was founded in 2018 by CEO Maxim Melamedov and CTO Alexey Baikov who have seen firsthand the complicated issues of maximizing cloud utilization at various periods in their careers. The two set out to create a solution… Read More Here

CYREBRO Raises $40 Million For Security Operations Center Infrastructure
CYREBRO, an Israeli cyber security startup that develops Security Operations Center (SOC) infrastructure, raised $40 million in a Series C round of funding led by Koch Disruptive Technologies (KDT), alongside new investor Elaia.

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IBM explains that a security operations center improves an organization’s threat detection, response and prevention capabilities by unifying and coordinating all cybersecurity technologies and operations. A security operations center (SOC) – sometimes called an information security operations center, or ISOC – is an in-house or outsourced team of IT security professionals… Read More Here

Dig Security Raises $34 Million
Dig Security, an Israeli cloud data security startup, raised $34 million in a Series A round of investment led by San Francisco-based venture capital firm, SignalFire. The company has now raised $45 million to date.

Israel is at the center of cyber security and new technologies to protect people from hackers. And everything is going into the cloud these days. Soon everything you do will be done online. For example, Microsoft Office… Read More Here

Joonko Diversity Raises $25 Million For Diversity Recruiting
Joonko, an Israeli startup that offers a human resources service that aids firms in reaching their diversity recruiting quotas, raised $25 million in a Series B round of funding led by Insight Partners. Joonko has now raised over $38 million to date.

Joonko was founded in 2016 by CEO Ilit Raz. She explained how the company came into existence. Back in 2016, says Raz, she asked herself, “How can we improve the lives of women, minorities, and…. Read More Here

Ownera Raises $20 Million For Blockchain Interoperability Network
Ownera, an Israeli fintech startup that offers an interoperability trading network for tokenized assets, raised $20 million in a Series A funding round from investors like J.P. Morgan and LRC Group.

J.P. Morgan’s Scott Lucas will join Ownera’s board. Nadav Zohar, Chairman of the LRC Group, a major investor in the round and partner of Ownera, will join the board as Executive Chairman.

IBM explains that Blockchain is a shared, immutable ledger… Read More Here

IPOs and Unicorns
Israeli Unicorn Fireblocks Rakes In $100 Million Per Year For Fintech Security
The Israeli fintech startup and unicorn – a company with a $1 billion plus valuation – Fireblocks is raking in the big bucks these days. The company expects to hit $100 million in Annual Recurring Revenue (ARR) for 2022. The surprising thing here is that Fireblocks specializes in cryptocurrencies, which crashed and burned not long ago, so people must have an expectation that they will make a rebound.

The news comes not long after Fireblocks acquired First Digital, an Israeli startup that offers a stablecoin and digital asset payments technology platform, for that exact amount – $100 million – in February. And it was only last December when… Read More Here

Mergers and Acquisitions
Teddy Sagi’s Kape Technologies Raises $220 Million For New Acquisitions
Teddy Sagi’s Kape Technologies, a digital security privacy business, raised $220 million from both new and existing shareholders in a share placing on the London Stock Exchange. The company said that it plans to use the new funds for making further acquisitions. Sagi now holds a 54% stake in Kape after acquiring another $120 million in shares.

Kape Technologies is a cybersecurity company that says it is focused on “helping everyone have a better digital experience with greater privacy… Read More Here

Zynga Completes Acquisition Of Mobile Growth Platform Storemaven
Zynga Inc., a wholly-owned publishing label of Take-Two Interactive Software, Inc. in the field of interactive entertainment, completed the acquisition of Storemaven, a provider of mobile growth and App Store Optimization (ASO) technologies. Zynga says that this will expand its existing operations in Israel and that the Storemaven team will combine its mobile technologies with Zynga’s Chartboost’s advertising platform. Financial terms for the deal were not disclosed.

Founded in Tel Aviv in 2015 by Gad Maor (CEO), Adam Rakib (President), and Eldad Abel (CPO), Storemaven creates mobile growth and… Read More Here

Other Business Stories
Energean To Open Israel’s Karish Natural Gas Field ‘Within Weeks’
Energean, the British energy company which operates Israeli natural gas fields in the Mediterranean Sea, has said that it should be able to begin production in the Karish field as soon as the start of the new Jewish year, which begins in two weeks’ time. However, Lebanon’s government continues to claim that the Karish natural gas field spreads into its own territorial water, which could lead to renewed conflict in the region.

Energean CEO Mathios Rigas told investors, “Our flagship Karish project is on track to start production within weeks and will enhance energy security in Israel and the region.”

In May, Energean, which… Read More Here

Taboola Cutting 100 Jobs
Taboola, the publicly traded Israeli web content recommendation company, is now the latest Israel Startup Nation firm forced to make layoffs due to the global financial crisis hat has seen a continuing fall in global indexes. The company is letting go of 6% of its workforce, or about 100 employees.

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This move places Taboola in good company, or bad company as the case may be. Already in September Firebolt, an Israeli startup and a unicorn that calls itself the world’s fastest cloud data warehouse, purpose-built for delivering a new grade of analytic experiences over big data, was also forced to make cuts. And Israeli… Read More Here

GenCell Launches Off-Grid Power Solution To Increase Range Of EVs
GenCell Energy, an Israeli provider of hydrogen and ammonia to power fuel cell solutions, launched the GenCell EVOX, a new off-grid EV charging solution that leverages alkaline fuel cells, hydrogen and ammonia to power technologies. The company says that this was designed to resolve range anxiety and grid limitations by generating green, grid-independent, on-site power that can charge EVs anytime, anywhere.

Israel Startup Nation – since long before its independence and long before anyone ever called the country Startup Nation – has always been a world leader in developing alternative sources of energy as well as… Read More Here

Israeli Study: Vaccines Dramatically Reduce The Risk Of Long-Term Effects Of COVID-19
Being vaccinated with at least two doses of Pfizer vaccines dramatically reduces most of the long-term symptoms individuals reported months after contracting COVID-19, a new study shows. This was determined in a new study conducted by Scientists at Bar Ilan University in Israel in which eight of the ten most-commonly reported symptoms were reported between 50 and 80% less often among individuals who received at least two doses of COVID-19 vaccine compared with those who received no doses.

The news of this study came just days after researchers…. Read More Here

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