Tel Aviv at sunset, Israel Startup Israel
Israel High Tech Scene and Other Business Stories May 13 – May 19
New Startups / VC Funding
Sightful Releases World’s First AR Laptop
Sightful, an Israeli startup that develops new augmented reality (AR) technologies, has revealed a new laptop computer that does not need a screen called Spacetop, in other words, the world’s first AR laptop. The new computer uses AR goggles instead of a screen.
This is groundbreaking. Now laptops will get smaller and lighter. And now more worrying about breaking the screen and needing to… Read More Here
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CryptoHub Hits $30 Million Valuation
Israeli crypto service startup CryptoHub hit a $30 million valuation with a $6 million raise, including $3 million from Tectona, led by Chairman Yariv Gilat and CEO Yossi Barnea. At the same time, NeuroSense Therapeutics, an Israeli medtech firm, completed enrollment in PARADIGM, a multinational, randomized, double-blind, placebo-controlled Phase 2b clinical trial of PrimeC in people living with amyotrophic lateral sclerosis (ALS). And Cision, an Israeli startup offering an end-to-end consumer and media intelligence and… Read More Here
ADASKY Raises $30 Million, Signs Deal With Gentex
ADASKY, an Israeli startup that develops thermal imaging technologies, raised $30 million in a Series B round of investment led by the American corporation Gentex, which develops driver assistance systems. Gentex also established a commercial, engineering, and manufacturing collaboration agreement to help bring ADASKY’s proprietary technology to market. Adasky develops technology to… Read More Here
Tipalti Gets $150 Million Credit Infusion
Tipalti Gets $150 Tipalti, an Israeli fintech unicorn (a company with at least a $1 billion valuation) that creates and runs a global financial transfer network, raised $150 million in a credit financing round from JPMorgan Chase Bank and Hercules Capital, Inc. In December 2021, Tipalti hit super unicorn status with an 8.3 billion valuation, which came after the company raised $270 million in a Series F fundraising round.
Tipalti might be in need of the iMillion Credit Infusion… Read More Here
Laguna Health and Visual Layer Make Small Raises
Israeli startup Laguna Health, a post-hospital recovery assurance medtech company offering a value-based solution to reduce costly readmissions and shorten recovery times, closed its Series A round of investment bringing in $15 million. The round was co-led by SemperVirens and HC9 Ventures and brings Laguna’s total raise to date to over $21 million. Meanwhile, Visual Layer, another Israeli startup that offers a visual data management platform, raised $7 million in Seed financing led by Madrona and Insight Partners.
Founded in 2022 by Amir Alush and Danny Bickson… Read More Here
Entro Security Raises $6 Million and Israel Delivers Training Aircraft to Greece
Entro Security Ltd., a new Israeli cybersecurity startup that just released ts Entro platform, raised $6 million in Seed funding led by StageOne Ventures and Hyperwise Ventures. Meanwhile, Israel’s Ministry of Defense said the country transferred two M–346 training aircraft to the Greek Hellenic Air Force as part of a defense cooperation agreement between Greece and Israel.
The two M–346s are the first of 10 aircraft expected under the… Read More Here
SWAPP and Spinframe Make Small Raises
Spinframe, an Israeli startup that offers AI enabled tech for vehicle inspections, raised $8 million in financing led by Israel’s global shipping company Zim. And fellow Israeli startup SWAPP, which develops automation software for architectural construction documents, raised $11.5 million in a Series A funding round led by Eurazeo, a global investment firm.
Founded in 2019 by three veteran entrepreneurs who sold their last venture to Autodesk, SWAPP boasts that its platform automates the… Read More Here
Mergers and Acquisitions
NeoGames Sold At $1.2 Billion Valuation
NeoGames, an Israeli founded technology-driven provider of end-to-end iLottery and iGaming solutions globally that is publicly traded on the NASDAQ, is set to be acquired by Aristocrat Leisure Limited, an Australian entertainment and content creation company delivering mobile and casino games, for $29.50 per share in an all-cash transaction. The deal gives NeoGames a valuation of… Read More Here
IBM Buys Israel’s Polar Security for $60 Million
IBM has bought out Israeli cybersecurity firm Polar Security. While the details of the acquisition, including the purchase price, have not been disclosed it has been reported that the price tag was $60 million. It’s always a bid deal when a major global firm like IBM buys out an Israeli company, even if it is for a relatively small sum.
This makes Polar Security the third Israeli company… Read More Here
Israel’s Go Global Travel Sold to Korea’s Yanolja Co
Go Global Travel, an Israeli firm that offers services for the travel industry has been acquired by South Korea’s largest travel-booking company Yanolja Co. The purchase price was not revealed, but Go Global Travel is currently owned by Apax Mid-Market Israel (AMI) which reportedly paid $85 million for its controlling share.
Yanolja was founded in 2005 and offers many services like Online Accommodation, Leisure Booking & Advertisement, Hotel Property Management System… Read More Here
Other Business Stories
Standard And Poor’s Reaffirms Israel’s AA- Rating
Standard & Poor’s (S&P) left Israel’s credit rating unchanged at AA-. The move came after speculation that Israel’s current political upheavals – specifically the controversial judicial reforms proposed by the government of Prime Minister Benjamin Netanyahu – could cause such agencies to lose confidence in Israel’s economic outlook.
In its assessment of the rating, S&P said Israel’s “resilient economy, strong balance of payments, and a moderate level of public… Read More Here
IMF Praises Israel’s Economy, But Sees Judicial Reforms as a Threat
The International Monetary Fund (IMF) released its report on the outlook for Israel’s economy. While giving the country a good review overall, the IMF joined the chorus of those who say the controversial judicial reforms proposed by the government of Benjamin Netanyahu could bring the country’s economy down.
The news comes as Standard & Poor’s (S&P) chose to leave… Read More Here
Israel Signs $305 Million Deal to Sell Elbit PULS Rocket Artillery to Holland
In the first deal of its kind between the two nations, Israel signed a $305 million agreement with the government of Holland to sell the country PULS Rocket Artillery rocket systems from Israel’s defense contractor Elibit Systems for use by the Royal Netherlands Army. Israel’s Minister of Defense Yoav Gallant approved the agreement led by Director General of the Israel Ministry of Defense, Maj. Gen. (res.) Eyal Zamir that was signed Wednesday… Read More Here
TASE and SFI Group Collaborate On New Fund for Underprivileged Populations In Israel
TASE and The Tel Aviv Stock Exchange (TASE) and the SFI Group (Social Finance Israel) entered into a new collaboration in the establishment of professional training and job placement for underprivileged populations in Israel.
The newly formed fund, said the organizations, will implement an innovative impact investment model, where social investors provide funding for training programs, and individuals bear the cost ofSFI Group Collaborate On New Fund For Underprivileged Populations In Israel… Read More Here
Israel Innovation Authority Shows Slowdown in Israeli High Tech
A new report from the Israel Innovation Authority and SNPI Policy Institute on the 2022-2023 Human Capital Report update for the high-tech sector in Israel shows that the country has seen a considerable slowdown in growth since its world-leading growth rates after the end of the Covid crisis. This is attributed to global trends and an ongoing financial crisis coupled with… Read More Here
Israeli Hi-Tech Association Signs Cybersecurity Deal with Korea
The Israeli Hi-Tech Association and the Korean Information Security Industry Association (KISIA) recently signed a memorandum of understanding (MOU) to promote business cooperation between Israeli and Korean companies in the fields of global information security and the cybersecurity industry. The organizations said this will open a “direct line” to the markets in South Korea for Israeli firms.
Israel Startup Nation is at the forefront of… Read More Here
