Tel Aviv at sunset, Israel Startup Israel
New Startups / VC Funding
IceCure Raises $14.5 Million for Cancer Treatments
Israeli medtech company IceCure Ltd. Closed a new public offering of 8,787,880 shares of the Company’s ordinary shares priced at-the-market under NASDAQ rules at a price to the public of $1.65 per share. The gross proceeds of the offering to the Company were approximately $14.5 million, before deducting placement agent fees, commissions, and other estimated offering expenses… Read More Here
IPOs and Unicorns
Top 5 Startup Nation IPO Stories For 2022
The past year was not a good one for Israel Startup Nation due to the worldwide financial crisis. Many firms were forced to lay off workers and some even shut down entirely. But there was some good news during the year as several companies were able to hold successful Initial Public Offerings (IPO). Yet a few also needed to cancel such plans.
Here is the JBN list of the top 5 Israel Startup Nation IPO… Read More Here
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Mergers and Acquisitions
Moon Active Buying Zen Match for Est. $150 Million
Moon Active, an Israeli gaming startup and a unicorn is expanding its operations with the acquisition of the mobile game app Zen Match as well as some other apps from the Turkish firm Good Job Games. The acquisition terms were not revealed, but the deal is estimated to be worth as much as $150 million.
Moon Active certainly has the money to spend. The company first became a unicorn with a $300 million raise in November of 2021. And with signs pointing to an end of a high inflation period, people are looking for… Read More Here
OrboGraph Sold To RMS For $100 Million
OrboGraph SIsraeli company OrboGraph, which provides advanced check recognition and fraud detection solutions, was acquired by American firm Revenue Management Solutions (RMS), a healthcare payment automation service provider based in Oklahoma City. The acquisition was financed through the first follow-on fund of Thompson Street Capital Partners, a St. Louis-based private equity firm whose portfolio of companies it owns includes RMS.
Founded in 1995 by CEO Avikam Baltsan as a spinoff of OrboTech, OrboGraph is a developer and supplier of recognition solutions, payment negotiability, and check fraud detection for the U.S. check processing market. Nearly 4,000 financial institutions, service bureaus, and clearinghouses rely on OrboGraph technology to process billions of… Read More Here
Other Business Stories
Israel Startup Nation 2022 Record Breaking Year in Raising Capital
While 2022 may have been a year of the international financial crisis, Israel Startup Nation set records raising an aggregate of $13.9 billion. Israeli funds broke a record by raising $3.9 billion, compared to the years 2022 and 2021 in which they raised 2.7 and 2.3 billion respectively.
About two hundred investors, innovation managers and leading entrepreneurs gathered for the annual meeting at the “Trends and Forecasts” conference, in an attempt to predict how high-tech will be affected by the continued crisis in the markets in the coming year and to discuss whether it… Read More Here
Israel Gets New Armor for Eitan Fighting Vehicle
Israel is known for its defense industries and for innovating many foreign made arms such as fighter planes as well as developing its own weapons systems. But sometimes it must acquire what it needs from abroad. And so, following a process led by the Ministry of Defense’s Procurement Mission in cooperation with the Tank and APC Directorate, the American corporation Oshkosh Defense was selected to produce hundreds of “Eitan” APC hulls.
The deal between the procurement mission and “Oshkosh Defense” is estimated to be over 100 million dollars, financed by… Read More Here
Caesarstone Crashing And Brodmann17 Closing
Israel’s engineered quartz surfaces maker Caesarstone, a worldwide company, is now forced to make cutbacks due to the global financial crisis. The company is expected to let go of as many as 200 people or 10% of its total workforce. Meanwhile, Brodmann17, a six-year-old Israeli startup that developed software for computer vision applications for automated vehicles, is almost officially caput as its own employees (the few who are left) went to court to force it to liquidate.
After going public in 2012, Caesarstone hit a $1 billion market cap in 2013. But now its market cap is only $201 million… Read More Here
Michael Greenfeld Extradited To Israel Over Ponzi Scheme
Michael Greenfeld – also known as Michael Ben-Ari – was extradited back to Israel early Sunday morning from Bosnia. Greenfeld is accused of operating what local authorities have described as the biggest Ponzi scheme in Israel’s history, defrauding people out of $150 million.
Yes, even Israel has Ponzi schemers and people who commit fraud on a large scale. And yes, other countries around the world have no love for such people and will send them back to where they came when caught. So, what exactly did Michael Greenfeld do.
Israeli authorities arrested and charged Michael Greenfeld back in April of 2021 for violating the Israeli Joint Investment Trust Law, Regulation ael Greenfeld Extradited To Israel Over Ponzi Scheme… Read More Here
