Tel Aviv at sunset, Israel Startup Israel
New Startups / VC Funding
Israeli Startup Nation High Tech Raised $15 Billion In 2022
According to a report from IVC, in 2022, Israel Startup Nation high-tech companies raised $14.95 billion in 663 different deals. In Q4 2022, $2.02 billion was raised in 121 different deals. The outcome of the investment activity in 2022 supports the perception of a slowdown, with a drop of more than 40% from the amounts raised in 2021.
So, to be clear, only 1/7 of the amount raised by Startup Nation in 2022 came in the year’s final quarter. This was clearly due to the worldwide financial crisis that stemmed from the Russian invasion of Ukraine. The year, however, began on a high note as the port Covid rebound at the end of 2021… Read More Here
40Seas Raises $111 Million for Fintech
40Seas, an Israeli fintech startup that offers a fintech platform for cross-border trade financing, raised $111 million. ZIM and Team8 contributed $11 million as part of a seed round of financing and the rest came from $100 million in credit. So, Startup Nation seems to be getting off to a good start after a dismal Q4 in 2022.
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Headquartered in Tel Aviv, with offices in New York City, Toronto and Shenzhen, 40Seas was co-founded by CEO Eyal Moldovan and COO Gil Shiff. 40Seas is a fintech platform for cross-border trade financing that is tailored to small and medium-sized enterprises (SMEs) engaged in global commerce. By leveraging data-driven technology, the company is able to offer flexible payment options… Read More Here
Everads Teams With VivaVision on Ocular Medtech
Israel’s Everads Therapy, a biotech startup developing optimized retinal therapies by leveraging its novel suprachoroidal delivery technology, and VivaVision, a pharmaceutical company developing innovative therapies for ocular diseases, are partnering to develop safer, more effective, and more durable treatments for retinal diseases.
The two companies will develop certain undisclosed molecules of VivaVision for suprachoroidal delivery using Everads’ technology and expertise. The molecules selected are potent small molecules that work against well-validated therapeutic targets in retinal disease management… Read More Here
Novocure Holds Successful Cancer Trial, Innoviz Unveils New LiDAR System
Innoviz Technologies, an Israeli provider of high-performance, automotive-grade LiDAR sensors and perception software, and Novocure, an Israeli medtech company that develops and sells a treatment using electric fields for various types of cancer, both successes this past week. For Novocure, it was in a trial for the company’s LUNAR study.
Novocure LUNAR study met its primary endpoint, said the company, demonstrating a “statistically significant and clinically meaningful improvement in overall survival over standard therapies alone.” The company declared the… Read More Here
Other Business Stories
Shekel Dropped 4% against USD In 2022
Israel’s Central Bureau of Statistics (CBS) released the data on exchange rates between the New Israeli Shekel NIS and the major convertible foreign currencies of the world in 2022. In 2022, the CBS said, the Israeli Shekel strengthened compared to most currencies used in Israeli foreign trade.
According to the data, the NIS strengthened in comparison with the Japanese Yen by 14.8%, by 8.1% in comparison with the Euro, by 7.1% in comparison with the Pound Sterling and by 0.4% in comparison with the Swiss Franc. In contrast, the Israeli Shekel weakened by in comparison to the US Dollar 3.8%, and 0.1% in comparison to the… Read More Here
Minute Media, Personetics, Twine Solutions And More All Laying People Off
The hits keep on coming to Israel Startup Nation as Minute Media, Personetics, Twine Solutions and several other companies have all announced major cutbacks and the firing of employees in the past few days. While the Bank of Israel foresees a good year coming up in 2023 for Israel’s economy, it may take a while before the string of cutbacks come to an end and even longer before the same firms start rehiring people, if ever.
2022 saw the worldwide financial system and stock markets in chaos due to spikes in inflation and disruptions to the global supply chains. This was largely due to Russia’s invasion of Ukraine in March and the sanctions imposed on Russia and… Read More Here
Nir Zuk’s Bank Esh gets off to Good Start With $500 Million Valuation
Nir Zuk’s new digital bank, bank Esh, is getting off to a great start just two weeks after it got final approval from the Bank of Israel. Clal Insurance, a major Israeli insurance firm, invested NIS 100 million (about $28 million) for a 4.99% stake in each of the group companies, both the bank and the technology company, leaving it with an estimated $500 million valuation.
So what is a digital bank anyway? Digital banking has to do with how everything is switching to online and cloud services these days. This includes the financial sector, both with investments and personal banking. In this way digital banking is a type of fintech. New technologies are in development worldwide to…. Read More Here
Teva Pharmaceuticals Reaches Opioid Settlement with 48 States
Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries Ltd., said that the company has reached a settlement with 48 U.S. states over the opioid epidemic scandal and the company’s role in it.
Teva said that there was a “sufficient level of participation to move forward with its nationwide settlement agreement to resolve opioid-related claims and litigation by states, cities, counties, and other subdivisions in the… Read More Here
Ben-Gurion University Finds New Way To Detect Fake Online Users
Dr. Michael Fire of Ben-Gurion University in Be’er Sheva has come up with a new breakthrough way to track anonymous and fictitious users. These users, known as “anomalous” (meaning outside the norm or expected) pose a serious threat to the cyber security of any organization and are getting to be all too common.
Ben-Gurion University explained that malicious or fictitious users on internet networks have become the “bane of the internet’s existence” and that many “bemoan their increasing frequency.”
The problem is so great that now there are all sorts of tools… Read More Here
4,000-Year-Old Ostrich Eggs Found in the Negev – What An Omelet!
If you really want to make the greatest omelet the world has ever known, make it out of 4,000 year old ostrich eggs. And, yes you can, now that eight such eggs were uncovered near an ancient fire pit in the Nitzana sand dunes in the Negev in an Israel Antiquities Authority (IAA) archaeological excavation in the agricultural fields of Be’er Milka.
(Disclaimer: The FDA does not recommend actually eating 4,000 year old eggs. Anything older than 3, 250 years old will probably give you an upset stomach.)
The excavation was carried out by the Israel…. Read More Here
