Tel Aviv at sunset, Israel Startup Israel
New Startups / VC Funding
Coro Hits $575 Million Valuation with New Raise
Coro, an Israeli cybersecurity startup, raised $75 million in new financing from new investor Energy Impact Partners and current investors, Balderton Capital and Jerusalem Venture Partners. This latest raise brings the company’s total funding over the last 12 months to $155 million and gives it a $575 million valuation.
So, in spite of the continuing worldwide financial crisis in which funding for investments has dried up due to a combination of high inflation… Read More Here
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Volumez and Quantum Source Raise $50 Million Between Them
Quantum Source, an Israel startup developing the technology needed to bring photonic quantum computers to market, raised $12 million in a seed extension investment round led by Dell Technologies Capital with participation from 10D bringing the firm’s seed round total to $27 million, one of the largest total seed financings in the field of Quantum Computing. Meanwhile, Volumez, an Israeli cloud infrastructure startup, completed a $20 million Series A financing round led by Koch Disruptive Technologies. The company’ boasts… Read More Here
Trullion Raises $34 Million for Accounting Platform
Trullion, an Israeli startup that offers an AI-powered accounting platform, raised an additional $15 million, led by Stepstone Group, with full participation from its existing investors Aleph, Third Point Ventures and Greycroft to complete a $30 million round of financing. The company has now raised $34 million to date.
Trullion plans to use the new funding to… Read More Here
Avalor Raises $30 Million for Cybersecurity
Avalor, an Israeli cybersecurity startup, completed a $25 million Series A investment round led by TCV, with participation from Salesforce Ventures. Morgan Gerlak, Partner at TCV will join Avalor’s board of directors. Including a $5 million Seed round led by Cyberstarts in 2022 Avalor has now raised $30 million in total.
Cybersecurity firms are really bringing in the money these days. And investors certainly have reason to believe that… Read More Here
CropX Raises $30 Million for Agtech
CropX Technologies, Ltd., an Israeli agtech startup, completed a $30 million Series C financing round led by Aliaxis SA, a firm enabling access to water and energy through inventive fluid management solutions. CropX said the funding will be used for the continued development of “innovative” capabilities for its agronomic farm management system, and the acquisition of companies with complementary technologies and market reach.
Founded in 2015, the company… Read More Here
Capitola Raises $15.6 Million for Insurtech
Capitola, an Israeli insurtech startup that connects brokers and carriers and uses AI-based risk appetite matching to streamline the placement process, raised a total of $15.6 million in its Series A funding round led by Munich Re Ventures after raising an additional $5 million. The company said it will use these funds to grow Capitola’s platform with an emphasis on its market intelligence capabilities and to accelerate sales in the U.S.
Founded in 2021 by Naor Rosenberg… Read More Here
Israel’s SafeGuard and Floodlight Make Small Raises
SafeGuard, an Israeli startup that offers an AI solution to automate decision-making in construction zones to predict worksite accidents, raised $8 million in a Series A round of funding round led by hi-tech investors Ron Zuckerman and Hillel Kobrinsky. And Floodlight, an Israeli startup offering a smart business account for e-commerce, s raised $6.4 million in a Seed round of funding led by Aleph and 83North, with contributions… Read More Here
Neteera and Viridix Make Small Raises
Neteera, an Israeli medtech startup, raised $13 million in a Series B funding round led by Aescuvest, a healthcare investment firm. And Viridix, an Israeli agtech startup, raised $4.1 million. In 2019 the company raised $2.35 million in a seed round.
Founded in 2017, Viridix is a precision irrigation company that says it is dedicated to helping growers optimize their water… Read More Here
Mergers and Acquisitions
Neosec Cybersecurity Startup Sold To Akami Technologies
Israeli cybersecurity firm Neosec is being acquired by Akamai Technologies, a company that offers cloud services. The terms of the deal were not revealed, but Calcalist reported that it could be valued at several dozen million of dollars. Neosec has raised $20.7 million to date.
Cybersecurity firms are really bringing in the money these days. And investors certainly have reason to believe that cybersecurity will bring… Read More Here
WalkMe Making More Layoffs and Electronic Arts Closing Israel Operation
WalkMe, an Israeli firm that provides website navigation and digital adoption solutions, is laying off 112 people. And in another example of how Israel Startup Nation is still suffering along with everyone else from the continuing worldwide financial crunch, U.S. gaming giant Electronic Arts EA is shuttering its Israeli R&D center in Caesarea, which is based on what was Israeli startup GameFly. Electronic Arts acquired Gamefly in 2018.
Founded in 2011 by CEO Dan Adika and company president Rafael Sweary as a guidance and navigation tool, WalkMe… Read More Here
Mark Scheinberg Buying $550 Million Tao Group from James Dolan
Israeli-Canadian businessman and investor Mark Scheinberg is reportedly set to acquire the Tao Group, a worldwide operator of hotels and restaurants. Scheinberg’s Mohari Hospitality will acquire a 67% stake in the firm owned by James Dolan’s Madison Square Garden Entertainment for $300 million, giving Mohari a valuation of about $550 million.
Dolan acquired Mohari Hospitality for $181 million in 2017…. Read More Here
Constru Now Looking For Buyer/Savior
Israeli construction startup Constru, which is bankrupt, is now for sale. The decision to sell out came after the company found itself in receivership over debt.
Trustee Danit Rimon, head of Arnon, Tadmor-Levy law firm’s insolvency and restructuring practice group, made a filing on Friday placing Constru up for sale. She also requested an extension of the order freezing proceedings for the company and permission to lay off any of the company’s employees that… Read More Here
Other Business Stories
Israeli Arms Trafficking Suspect Gal Luft Goes Missing
According to local Cypriot media, the Israeli, Professor Gal Luft, has reportedly gone missing from Cyprus, where he was residing. Luft, a retired IDF colonel who co-chairs the Washington-based Institute for the Analysis of Global Security, was arrested at Larnaca International Airport last February by Cyprus police after Interpol issued a warrant for his arrest on suspicion of weapons trafficking with Libya and China.
In March, a Cypriot court deliberating… Read More Here
AI21 Labs Teams With Amazon on New Bedrock AI Service
Amazon launched its own AI tool called Bedrock, which the company calls a new service for “building and scaling” generative AI applications. Israel’s AI21 Labs, a startup from Amnon Shashua that specializes in Natural Language Processing (NLP), entered a partnership with Amazon Bedrock the company says will allow customers to scale their own generative AI-driven applications.
Amazon boasts that Bedrock provides users the flexibility to choose from a wide range of FMs built by AI startups and Amazon so they can find the model… Read More Here
Pagaya Suspending Direct Withdrawals from Fund
Israeli fintech firm Pagaya will suspend daily withdrawals from its Pagaya Opportunity Fund, Israel’s largest investment fund with about $1.38 billion in assets under management. Pagaya informed investors that it will now transfer funds on a quarterly basis.
Pagaya management revealed that the move…. Read More Here
NSO’s Pegasus Spyware Continues to Exploit New IPhone Vulnerabilities
A report by Citizen Lab at the University of Toronto revealed that NSO‘s Pegasus spyware had developed three new ways to hack into iPhones by exploiting vulnerabilities in Apple’s operating system. The report found that several members of Mexican civil society, including two human rights activists, had their iPhones infected with Pegasus. The spyware was…. Read More Here
