Tel Aviv at sunset, Israel Startup Israel
New Startups / VC Funding
Pinecone Hits $750 Million Valuation
Pinecone Systems, an Israeli startup that develops new types of search infrastructure, hit a $750 million valuation. The valuation came after a new $100 million Series B round of investment led by Andreessen Horowitz, with the participation of ICONIQ Growth and existing investors, Menlo Ventures and Wing Venture Capital.
Founded in 2019 by former Amazon developer Israeli Edo Liberty, Pinecone offers a fully managed vector database that the company says… Read More Here
Microsoft Fourth AI for Good Acceleration Program Selects 14 Israeli Firms
For the fourth year, Microsoft for Startups Israel and TechForGood selected a number of startups to join the Microsoft AI for Good Acceleration Program. Microsoft has selected 14 Israeli companies for this 9-week program which the company says helps purpose-driven ventures in Israel advance their AI solutions to create positive social transformation… Read More Here
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Israel’s Meat The End MTE Makes History With First Chickpea Hamburger
Meat the End MTE, an Israeli startup that develops alternatives for animal based food products like beef, has created the world’s first ever hamburger made from chickpeas. The “meat” is made from texturized proteins found in chickpeas.
Everybody loves humus. And humus is one of the things everybody thinks about when they think about Israel. And, believe it or not, humus is made from chickpeas. That’s right! Meat the End MTE has found… Read More Here
Cybereason Loses 90% of Its Valuation
Cybereason, an Israeli cybersecurity startup that was recently valued at $3.5 billion that has long been looking to hold an IPO, has apparently lost 90% of its valued. A recent $100 million investment in the company gave it just a $300-400 million valuation, reported Axios based on the SEC forms filed recently.
The news comes one month after Cybereason was basically sold to the Japanese firm SoftBank Corp which led a new $100 million investment… Read More Here
IPOs and Unicorns
Wiz and Noname Security Launch Partnership to Secure Cloud Infrastructure
Noname Security, an Israeli API security startup and a unicorn, has joined forces with fellow Israeli cybersecurity startup and unicorn Wiz, which offers cloud security solutions. With this new partnership, Noname will use Wiz’s inventory data to provide customers with contextual insights into their APIs. The two companies said that their new joint solution can help clients boost their… Read More Here
Mergers and Acquisitions
Envoy Technologies Going To Blink Charging For $34 Million
Blink Charging’s wholly-owned subsidiary, Blink Mobility, LLC, an all-electric car-sharing service, is acquiring Envoy Technologies, an Israeli startup offering shared electric vehicles as amenity for national real estate developers and owners. While the details have not been revealed, Calcalist reported that Envoy Technologies, which has raised $10 million to date, has raised $10 million in funding.
Blink Mobility said that its acquisition of Envoy, combined with its existing EV car-sharing service, and with the recently awarded $7.5 million… Read More Here
YouAppi Sold
YouAppi, an Israeli startup that offers mobile application analytics, has been sold to an unnamed American company for $110 million. This is according to a report in Calcalist.
Founded in 2011 by CEO Moshe Vaknin and Ofer Garnett, YouAppi has proprietary predictive algorithms for analyzing mobile customer acquisition patterns via apps and the mobile web according to… Read More Here
Other Business Stories
Yitzhak Tshuva to Build Rental Housing Project worth $1 Billion in Florida
Israeli businessman Yitzhak Tshuva is set to build a massive rental housing project worth $1 billion in Florida. This will be the largest project of its kind in Davie, which has a population of over 100,000.
The award-winning developer Elad National Properties (Elad USA), Yitzhak Tshuva’s real estate company, will manage the project. The project will consist of five residential towers and cover an area of 2.8 million square feet of mixed-use rental residential apartments and a commercial. The project is named… Read More Here
Kosher Electricity Is a Real Thing and Is Coming to Israel
Israel is moving to the use of “Kosher” electricity. Yes, you heard that right. There really is such a thing as kosher electricity.
Israel’s Minister of Energy and Infrastructure, MK Israel Katz, will submit a decision-making proposal to the government, which is intended to… Read More Here
Mobileye Plummets and Other Companies Continue Layoffs
Israel’s Mobileye, an Israeli company that develops automated driving systems, saw its shares plummet after the company reported a 15% decline in sales forecasts. The company also predicted increased losses in 2023 as a result of growing competition from Tesla for electric vehicles in the Chinese market. Meanwhile, in more bad news for Israel Startup Nation, Amazon is firing dozens of its research and development employees based in the country. And…. Read More Here
Israeli Researchers Develops New Drought Tolerant Tomato
The study was led by doctoral student Shai Torgeman and Prof. Dani Zamir from the Hebrew University of Jerusalem. The findings were published in the Proceedings of the National Academy of Sciences (PNAS) journal.
The researchers identified the interactions between two regions of the tomato…. Read More Here
