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Jewish Business News


Israel High Tech Scene February 12 – 18

Tel Aviv

Tel Aviv at sunset, Israel Startup Israel

New Startups / VC Funding
Demisto Founders Launch Descope With $53 Million Raise
Descope, a new Israeli cybersecurity startup, raised $53 million in Seed funding led by Lightspeed Venture Partners and GGV Capital, with participation from Unusual Ventures, Dell Technologies Capital and others.

This is some good news for Israel Startup Nation as recent times have seen more local companies contract than bring in new funding. And expectations are that 2023 will bring with it growth and an end to the… Read More Here

Oligo Security Raises $28 Million
Oligo Security, an Israeli cybersecurity startup, exited stealth with $28 million in Seed and Series A funding raised in nine months from Lightspeed Venture Partners, Ballistic Ventures, TLV Partners, venerated cybersecurity entrepreneur and investor Shlomo Kramer, and more.

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This is some good news for Israel Startup Nation as recent times have seen more local companies contract than bring in new… Read More Here

OpenEyes Raises $23 Million for Insurtech
OpenEyes, an Israeli insurtech startup serving commercial automotive fleets, emerged from stealth with $18 million in Series A funding led by global software investor Insight Partners and Pitango First, with participation by MoreVC, which led the seed round together with Pitango First. OpenEyes has raised a total of $23 million in funding to date.

Co-founded in 2018 by Yoav Oron (CEO), Dr. Omry Sendik (CTO) and Dan Charash (Chairman), OpenEyes boasts that the firm offers… Read More Here

MDI Health Raises $20 Million
MDI Health, an Israeli medtech startup that offers an AI-powered platform that automates the optimization of personalized medication treatment, raised $20 million in a Series A funding round led by Intel Capital with participation from Maverick Ventures Israel and existing investors. The company has now raised a total of $28 million to date including a $6 million seed round held in 2021.

MDI Health boasts that the firm is equipping clinicians… Read More Here

Ironblocks and Finq Make Small Raises
Ironblocks, an Israeli startup that boasts the first-ever blockchain-native cybersecurity platform, raised $7 million dollars in seed funding co-led by Collider Ventures and Disruptive AI. And Finq, an Israeli fintech startup, raised $6 million from the Israeli founder of the cybersecurity firm Palo Alto Networks Nir Zuk.

Founded in 2022 by CEO Or Dadosh and CTO Assaf Eli, Ironblocks is n, end-to-end security provider for Web3 platforms, DeFi protocols… Read More Here

CaPow Raises $7.5 Million for Battery-Free Perpetual Power Delivery System
CaPow, an Israeli startup that provides a perpetual power solution, raised $7.5 million in a Seed round of funding led by IL Ventures, a VC fund focused on disruptive technologies for legacy industries the company says will scale up the commercialization of its battery-free, wireless, energy delivery eco-system for autonomous robotics.

So, imagine never needing to change a battery. Or, at the very least, a battery that lasts for years. This is especially useful when it comes to… Read More Here

IPOs and Unicorns
Via Transportation Startup Hits $3.5 Billion Valuation with $110 Million Raise
Via, an Israeli startup that offers new TransitTech, has hit super-unicorn status with a $3.5 billion valuation. The firm did so with a $110 million financing round led by 83North, with participation from new and existing investors. The company ended 2022 with annualized revenue run-rate surpassing $200 million, more than double since the previous financing round.

Founded in 2012 by CEO Daniel Ramot… Read More Here

Enlight Renewable Energy Hold $2 Billion IPO
Enlight Renewable Energy, an Israeli alternative energy firm, completed its long planned IPO on the NASDAQ. The company offered 14 million shares opening at $17.90 per share and raised $252 million, almost 18% below its expected raise of $293 million. But the company now has a market cap of just over $2 billion.

Enlight now trades under the ticker symbol ENLT. The company is also traded on the Tel Aviv Stock Exchange where it has a market cap of $1.95 billion. Enlight first went public on TASE in 2010 at a valuation of just $17.3 million. So, the company’s stock jumped by more than 10,000 percent… Read More Here

Mergers and Acquisitions
Teddy Sagi Making $700 Million Bid For All of Kape Technologies
Teddy Sagi’s Kape Technologies, a digital security privacy business, has revealed that the company’s majority shareholder Sagi has made a takeover bid. The bid would give Kape a valuation of $1.5 billion. While Sagi does already control the company by holding a majority interest, the bid is for buying out all of its other shareholders and offers a 9.7% premium on the company’s shares at £2.85 per share ($3.44), or about $700 million total.

Kape technologies is currently traded…. Read More Here

Israel’s Canonic Security Getting Acquired by America’s Zscaler
Canonic Security, an Israeli startup that offers a SaaS application security platform, is being acquired by American cloud security company Zscaler. The cost of the acquisition has not yet been revealed. Canonic raised $6 million in seed funding one year ago.

Founded in 2020 by CEO Boris Gorin and CTO Niv Steingarten, Canonic is a SaaS Application Security platform that “continuously” profiles apps and user accounts, identifies suspicious or out-of-policy behavior, and… Read More Here

Urgently ‘Saves’ Flailing Israeli Firm Otonomo
Otonomo Technologies Ltd., the embattled Israeli mobility intelligence company was acquired by American based leading provider of digital roadside and mobility assistance technology and services Urgently. According to the deal, Otonomo’s shareholders and other equity holders will own, in the aggregate, approximately 33% of the combined company on a fully diluted basis, subject to the determination of the final exchange ratio pursuant to the terms set forth in the definitive agreement. The transaction is expected to close in the third quarter of 2023, subject to the approval of Otonomo’s shareholders and the… Read More Here 

Other Business Stories
Israeli Firms Pull $780 Million from Country over Political Concerns
In response to the planned judicial reforms proposed by Prime Minister Benjamin Netanyahu’s government, a number of Israeli firms have already taken action and moved funding abroad. This is being done because both the leaders of Israel’s political opposition and some financial experts have said that the reforms could cause foreign investors’ confidence in Israel’s political stability and thus its economy. Calcalist has reported that a number of private high-tech companies with an aggregate value of $40 billion may be refraining from transferring a total amount of wealth reaching as much as $2.2 billion into the country.

At the same time, companies have pulled $780 million in funds from Israeli banks. These companies employ between them more… Read More Here

Historic First: Energean Exporting Crude Oil from Israel
Energean, the British energy company which operates Israeli natural gas fields in the Mediterranean Sea, has announced that for the first time in its history, Israel is exporting hydrocarbon liquids in the form of crude oil. The fuel was extracted from Israel’s Karish offshore gas field in the Mediterranean.

The U.S. Energy Information Administration explains natural gas and crude oil are mixtures of different hydrocarbons. Hydrocarbons are molecules of carbon and hydrogen in various combinations. Hydrocarbon gas liquids (HGLs) are hydrocarbons that occur as gases at atmospheric… Read More Here

BIRD Aerosystems to Provide SPREOS DIRCM System to European Client
BIRD Aerosystems, an Israeli firm that provides defense technology and solutions that protect fleets, armored vehicles, and ground assets of governments and related agencies, in collaboration with an Asian company that specializes in carrying out Defence projects in the GCC and Europe, has won a contract to provide its Airborne Missile Protection Systems for two VIP aircraft of a European customer. The Bombardier Global 7500 and Gulfstream G700 aircraft will be equipped with BIRD Aerosystems AMPS Airborne Missile Protection Systems and the SPREOS DIRCM, all installed in BIRD’s AEROSHIELD POD – the most lightweight and advanced Protection Pod.

The company did not specify which Asian…. Read More Here



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