Tel Aviv at sunset, Israel Startup Israel
New Startups / VC Funding
Fetcherr and Redefine.Dev Make Raises
Fetcherr, an Israeli startup that developed an AI-powered, real-time demand predictor, raised $12.5 million in Pre-Series B funding led by Left Lane Capital and M-Fund. This raise followed a $7 million Series A raise in 2022, bringing Fetcherr’s total funding to $31 million across equity and debt. And Redefine.dev, an Israeli startup offering an AI-powered software optimization platform, led by Gillot Capital, featuring investments from industry leaders such as Nitzan Kapira and Ran Rabenzaft (founders of Epsagon), Efrat Rapoport… Read More Here
Entrio Raises $7.5 Million for IT Asset Management And Simplex Bringing Mapping Tech To Italy
entrio, an Israeli startup that offers an AI-driven IT asset management solution for financial enterprises, raised $7.5 million from Vintage Investment Partners, Communitas Capital Partners, BNY Mellon, and Alicorn Venture Partners. And Simplex, an Israeli aerial 3D mapping company based in Herzliya, has begun to offer its services to Italian towns and cities.
Simplex expects to cover 150 cities in Italy over the next three years after the company entered into an agreement with 200 municipalities… Read More Here
Israel’s Dot Compliance, AI21 Labs and Anyword All Moving Forward with AI Tech
Three Israeli Ai firms are moving forward. First, Dot Compliance a provider of eQMS compliance solutions for the life sciences sector, introduced an industry-first, ready-to-use AI-Based electronic Quality Management System for life sciences, powered by an embedded generative and predictive artificial intelligence. The system deploys ChatGPT combined with proprietary algorithms to optimize quality processes, automate tasks and help professionals working in quality assurance to focus on what really matters while enhancing the compliance of their organizations.
Also, AI21 Labs, an Israeli startup working with Generative AI… Read More Here
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IPOs and Unicorns
SHL Telemedicine to Trade on NASDAQ, SuperCom Announces Pricing of $2.4 Million Registered Direct Offering
SHL Telemedicine Ltd., a provider and developer of advanced personal telemedicine solutions, announced that the SEC declared effective the Company’s registration statement of its securities in connection with a NASDAQ Listing of its American Depositary Shares (“ADRs”), each representing one ordinary share of the Company. The ADRs are expected to commence trading on The NASDAQ Capital Market (the “Nasdaq”), on April 3 2023 under the ticker symbol “SHLT”, in parallel to its ordinary shares continuing to be listed on the… Read More Here
Mergers and Acquisitions
Nano Dimension Increases Offer In Bid For Stratasys
Nano Dimension, an Israeli company in 3D printed electronics, upped its bid to for fellow Israeli 3D printer manufacturer Stratasys. According to a report in Globes, the offer has gone up from $18 per share in cash to $19.55.
This is now Nano Dimension’s second try at buying up Stratasys. Last July Stratasys took what is commonly referred to as a “poison pill” – also known as a Shareholder Rights Plan – in order to prevent the takeover attempt… Read More Here
365Scores Getting Bought Out by Entain for $160 Million
365Scores Entain, a global sports betting, gaming and interactive entertainment has acquired the entire issued share capital of 365scores, an Israeli sports media business, for a consideration of $150 million and contingent payments totaling up to $10 million.
Entain said the combination of 365scores’ deep “expertise in data-driven sports media content” alongside Entain’s “global scale and market leading platform capabilities “will provide customers with a broader offering of interactiveGetting Bought Out By Entain for $160 Million… Read More Here
Japan’s SoftBank Takes Over Cybereason
Cybereason, an Israeli cybersecurity startup and a unicorn, announced a $100 million investment led by the Japanese firm SoftBank Corp, which had previously invested in the company. SoftBank will now be the firm’s largest shareholder and hold effective control. Cybereason was recently valued at $3.5 billion.
Eric Gan will serve as the company’s new CEO, replacing current CEO and Co-Founder Lior Div, who will transition to the role of advisor… Read More Here
Other Business Stories
Israeli High-Tech Suffer 70% Drop from the Same Period In 2022
Israeli high-tech companies have suffered a slowdown in the first quarter of 2023, raising only $1.72 billion in 105 deals, a 70% drop from the same period in 2022 and a 79% drop from the peak in Q4/2021, According to a report by IVC and Leumitech.
The review by the Research and Policy Institute (SNPI) Start-Up Nation Policy Institute found that in the first quarter of 2023, the number of investments in Israeli high-tech stood at only 1.7 billion dollars – the lowest… Read More Here
Elbit Systems Continues Streak with New $280 Million European Deal
Elbit Systems Ltd., an Israeli defense contractor, was awarded a contract to supply, among others, precision munitions, radio and defense electronics systems as well as maintenance services to a European Country, with a cumulative value of approximately $280 million. The nation in question was not revealed.
The contract will be performed over a period of three years… Read More Here
One Zero Digital Bank Moving Forward Nicely
One Zero, the new Israeli digital bank previously called The First Digital Bank, has gotten off to one hell of a great start in just 18 months of doing business. Globes revealed the bank reported it ended 2022 with over 50,000 customers and NIS 1.2 billion ($340 Million) in deposit and current accounts. Of the 50,000 customers, 30% say that their One Zero account is their main bank account with more than NIS 5,000 ($1,400) entering the account each month.
61% of customers are aged between 25 and 44, 16% between… Read More Here
BOI Raises Interest Rate Again
The Monetary Committee of the Bank of Israel (BOI) Monday raised the rate of interest by 0.25 percentage points to 4.5 percent. In making its decision the BOI cited continuing high rates of inflation.
The BOI explained that inflation in Israel was 5.2 percent over the past 12 months, and is high in a wide range of CPI components. While there has been some moderation in annual inflation, the Bank said the moderation was slower than in previous assessments. Inflation expectations and forecasts for the first… Read More Here
U.S. Government Secretly Acquired NSO Group Spy Tech
Israel’s controversial cyber security firm NSO Group has made deals with the American government. According to a report in the New York Times, a deal was reached in November 2021 in which NSO Group provided the U.S. government access to a geolocation tool that can covertly track mobile phones around the world without the phone user’s knowledge or consent. The Times describes this as one of the company’s most powerful weapons.
This arrangement was reached just days after the administration of President Joe Biden publicly chastised NSO Group for its alleged activities… Read More Here
