New Startups / VC Funding
Weka Hits $750 Million Valuation After $135 Million Raise
WekaIO (WEKA), an Israeli startup that offers a data platform provider for next-generation workloads, raised $135 million in a Series D funding round led by Generation Investment Management. This latest round brings the total investment in Weka to $275 million to date and gives the company an estimated valuation of $750 million, or three-quarters of a unicorn.
This is an amazing accomplishment for a company in Israel’s Startup Nation considering all of the firms that have been forced to downsize recently, including older established and publicly traded companies, not just startups, due to the worldwide financial crisis. And most of the startups that have still been… Read More Here
Loops.Ai Raises $14 Million, Clarifruit Raises $12 Million For Produce Industry
Loops.ai, an Israeli startup that provides a product growth platform, raised $14 million in Seed funding led by Scale Venture Partners. And fellow Israeli startup Clarifruit raised $12 million for new AI-driven tech to reduce waste in the fruit and vegetable industry, which is especially important as this helps with climate change by reducing waste of energy in unneeded production and the need to deal with all the additional waste.
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Loops.ai Raises $14 Million, Clarifruit raises $12 million for Produce Industry explains that fresh produce accounts for a large portion of global food consumption. But until now, fruit and vegetable fresh… Read More Here
Akeyless Raises $65 Million To Manage Your Secrets
Akeyless, a cyber security startup from Israel that calls itself the secrets management company, offering zero-trust access (PAM 2.0) and data protection, raised $65 million in a Series B round of funding led by NGP Capital. The company has now raised $80 million.
This is some good news for Israel Startup Nation as recent times have seen more local companies contract than bring in new funding. But Akeyless shows that cyber security tech will always be in demand and… Read More Here
IPOs and Unicorns
Israeli Unicorn Veev Makes Job Cuts
Veev, a tech-driven Israeli real estate developer of modular prefabrication homes, is the latest Israel Startup Nation firm forced to make cutbacks due to the ongoing worldwide financial crisis. The company is laying off about 30% of its workforce, or 100 people.
Before the cuts, Veev employed 350 people, with 100 employees at its Israel development center… Read More Here
Mergers and Acquisitions
Israel’s Pico Bought By Infront
Pico, an Israeli startup that offers a data-driven fan marketing platform for sports-related businesses, has been acquired by Infront Sports & Media, a Swiss sports marketing company. The purchase price was not revealed.
Pico, which employs 12 people, has raised $5 million in investments to date and its entire team is expected to join Infront.
Founded in 2014 by Asaf Nevo, Aviv Paz, and Roi Mozer, Pico is a data-driven fan marketing platform that helps sports teams and brands identify their fans across all digital channels by progressively gathering data…. Read More Here
Other Business Stories
Israel’s Annual Inflation Hits 5%
Israel’s Central Bureau of Statistics (CBS) has released the inflation data for October. The data showed that Israel had a 5.1% rate of inflation for the 12 month period through the end of October 2022, higher than average but still lower than the current rates of inflation in both Europe and the US.
The rate represents a 0.5% increase over the 4.6% increase in the rate of inflation recorded in the 12 month period ending end of August 2022… Read More Here
Future Meat Is Now Believer Meat
Future Meat, an Israeli cultured meat startup that develops meat-based foods from cells in a lab instead of livestock, has changed its name to Believer Meats (“Believer”). The company said that the name change is related to its transforming of Future Meat into a technology-rooted food company as Believer prepares for its product launch. Believer says it has gone from being a biotechnology startup to a “consumer-driven food technology” company.
Founded in 2018, Future Meat Technologies is a Food-Tech company that boasts that it advances a distributive manufacturing platform for the cost-efficient, non-GMO production of meat directly from animal cells, without the need to raise or harvest animals. Future Meat Technologies focuses on… Read More Here
Adani Gadot Group Settles Financing For Haifa Port Privatization
The Adani Gadot Group – a combination of the Adani Group and the Gadot Group -which won the state tender to privatize the Port of Haifa, has concluded an agreement to finance its purchase of the Port. The Group which had received several financing offers from several banking consortiums in Israel and abroad has selected the offer made by a group led by Mizrahi Tefahot Bank.
The Adani Group won the tender for the privatization of the port of Haifa with a $1.2 billion bid.
The financing contract was agreed… Read More Here
Namogoo And Strauss Group Both Making Layoffs In Israel
Namogoo, an Israeli company that offers a Digital Journey Continuity platform, is yet another example of an Israel Startup Nation firm forced to make cutbacks because of the worldwide financial crisis. Namogoo laid off about 25% of its workforce, or 25 people, mostly in Israel, according to a report in Calcalist. This comes at the same time that the more established Israeli food company Strauss Group is also making its own cutbacks.
This makes five Israeli companies that have revealed they needed to fire employees so far in November alone. The others include Varonis, an Israeli cyber security company that is publicly traded on the NASDAQ…. Read More Here