Tel Aviv at sunset, Israel Startup Israel
Israel High Tech Scene June 17 – 23
New Startups / VC Funding
Israel’s Irrigation Tech Startup N-Drip Hits $200 Million Valuation
N-Drip, an Israeli startup that offers an alternative irrigation method to flood or trench irrigation which allows for significant savings in water, raised $44 million in a Series C round of funding and that number could rise said the company. The firm has now raised $80 million to date and some reports indicate that it may have left the round with as much as a $200 million valuation.
The type of agtech provided by N-Drip is… Read More Here
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NVision Imaging Raises $30 Million for MRI Polarizers
NVision Imaging, an Israeli startup and developer of MRI polarizers and hyperpolarized imaging agents that could help with faster and more accurate cancer diagnosis and treatment, raised $30 million in a Series A round of investment led by Playground Global,, with an additional $19.5M in funding from the German government. The company will use the funds to advance the development and deployment of the NVision Polarizer and “usher in a new era of metabolic MRI capabilities… Read More Here
Deepchecks Raises $14 Million
Deepchecks, an Israeli startup that offers a solution to continuously test models from development through production, raised $14 million in a seed investment Alpha Wave Ventures.
Founded in 2019, Deepchecks is an open-source package for Machine Learning validation. The company boasts that it’s Open Source… Read More Here
Casterra Cuts $9.1 Million Deal for Its Castor Based Biodiesel
Casterra Ag, an Israeli startup that develops castor cultivation solutions for the development of biofuels, concluded a deal to sell seeds of its proprietary castor varieties to what the firm described as one of the “world’s leading” oil and gas companies for cultivation in specific African territories. Initial purchase orders, valued at an aggregate of $9.1 million, were received and the seeds are expected to be delivered during 2023.
Casterra, a subsidiary of Evogene Ltd., boasts that… Read More Here
IPOs and Unicorns
Israeli Unicorns Wiz, Salt Security and Armis Team On New WIN Platform
Wiz, the Israeli unicorn that offers an API security platform, now offers the new Wiz Integration (WIN) platform that allows for the integration of cloud bases cybersecurity. WIN is being offered in cooperation with Wiz’s fellow Israeli unicorns Armis, an Israeli Internet of things IoT startup and API security company Salt Security.
Wiz boasts that WIN provides… Read More Here
Mergers and Acquisitions
Verix Acquires Start-Up.Ai
Verix , an Israeli firm that offers an AI driven commercial optimization platform for the pharmaceutical industry, has acquired Start-Up.ai, a team of AI specialists that helps businesses improve their processes using artificial intelligence and machine learning for an undisclosed sum…. Read More Here
Eitan Medical Sells Sorrel Subsidiary to German Company LTS for $100 Million
Israeli MedTech firm Eitan Medical has sold its wearable injectors Sorrel subsidiary to LTS, a German pharmaceutical technology company. The companies described the deal as a strategic acquisition for both organizations, as it will allow LTS to further enhance and expand its innovative technology. While the purchase price was not disclosed… Read More Here
Azrieli Group Sells Its Minority Holdings in Compass for $900 Million
Israel real estate firm Azrieli Group sold its stake in the U.S. company Compass Datacenter for about $900 million. Azrieli owned 32.5% of Compass. Azrieli reported that based on its original investment made in 2019, the firm saw a 44% Internal Rate of Return from Compass.
Based in Dallas, Texas, Compass Datacenter is being acquired…. Read More Here
Other Business Stories
Israel Approves Gaza Offshore Gas Development
The government of Israel on Sunday announced that it had reached an agreement for the development of the offshore Gaza Marine reservoir of natural gas. The announcement came after rumors had circulated for some time that Israel and its neighbors were negotiating a deal that would allow for the development of the field.
Located off the Gaza shore and… Read More Here
Intel to Invest $25 Billion in New Israeli Plant
Intel is planning to invest $25 billion in a new plant to be located in Israel’s southern town Kiryat Gat. The news of the new investment was revealed matter of factly by Prime Minister Benjamin Netanyahu during his remarks made at Sunday’s weekly meeting of Israel’s cabinet.
Benjamin Netanyahu actually called the news…. Read More Here
NSO Group Sued by Jamal Khashoggi’s Widow
Israel’s NSO Group, a provider of spyware and other cybersecurity programs, is being sued by the widow of the late journalist Jamal Khashoggi, Hanan Elatr Khashoggi, who maintains the firm’s controversial spyware was used by Saudi Arabian agents to find and murder her husband. She filed the civil suit last week in the Northern District of Virginia saying her own phone was infected by the firm’s spyware.
In her lawsuit, Hanan Elatr Khashoggi charged… Read More Here
Israel Establishing Permanent Microorganism Fermentation Labs
The Israel Innovation Authority has selected YDLabs, an Israeli Foodtech fermentation R&D center, to establish permanent microorganism fermentation labs for the foodtech industry. The Authority will invest up to 50 million NIS ($14.1 million) in infrastructure to serve all foodtech companies using fermentation for research, development, and production of their products.
It will establish infrastructure that… Read More Here
JP Morgan Expanding Into Israel High Tech
JPMorgan Chase & Co, the financial power house led by Jamie Dimon, is expanding its operations in Israel. According to a report in Calcalist, the firm is also entering the commercial banking sector for high-tech companies in Startup Nation for the first time, after primarily focusing on investment banking, private banking, and wealth management.
Calcalist said that JPMorgan… Read More Here
IAG Firemark Ventures, JVP, and Margalit Startup City Have New Venture on Climate Change
Israel’s IAG Firemark Ventures, JVP (Jerusalem Venture Partners), and Margalit Startup City are working together on a new ClimateTech Insurance joint collaboration to handle climate change risk assessment. At the same time, Viola Ventures has partnered with the UAE’s Abu Dhabi based G42, a technology group that invents in artificial intelligence… Read More Here
