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Israel’s Nuance Hearing Bought by EssilorLuxottica

Trustmi raise $17 million for new fintech.


TrustMi Team (company pic)

Trustmi, an Israeli fintech startup offering protection for financial transactions, came out of stealth with $17 million in investments led by Oren Zeev and from people like Chen Amit, co-founder and CEO of Tipalti, and Assaf Rappaport, co-founder and CEO of Wiz. At the same time Israeli startup Nuance Hearing, which develops hearing aid tech, was acquired by the world’s largest eyewear manufacturer EssilorLuxottica in a deal said to be worth tens of millions of dollars.

EssilorLuxottica, the maker of such famed brands as Oakley and Ray-Ban, plans to incorporate Nuance Hearing’s tech into eyewear.

Founded in 2015 by CTO Yoni Hertzberg together with veteran Israeli tech entrepreneurs Yehuda Zisapel and his brother Zohar Zisapel, founders of the RAD Group, Nuance Hearing says the company is focused on listening technology, changing how the world manages auditory distractions and background noise.

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Nuance Hearing boasts that its acoustic beamforming technology shows world-class performance in directional capabilities and audio focus.

“Meeting critical consumer needs with the boldest actions is part of our DNA. While sight remains our core business – and growing the optical market our strategy – we are uniquely positioned to open up a new avenue for the industry by addressing the need for good hearing with innovative technologies,” said Francesco Milleri, Chairman and CEO, and Paul du Saillant, Deputy CEO at EssilorLuxottica. “Our proprietary hardware and software, combined with our design and manufacturing capabilities, will enable us to pair hearing solutions and prescription glasses into one groundbreaking product, and to bring it to market everywhere through our open network model. As we did in the vision space, we will be the first to remove the stigma of traditional hearing solutions, replacing it with comfort and style.”

Co-founded in 2021 by CEO Shai Gabay and CTO Eli Ben-Nun, Trustmi boasts that the firm has developed a product that assesses the safety of financial transactions while also providing users with warnings against suspected fraud in real-time, and identifies potential flaws in the process that may result from human error.

Ttrustmi declares the company has deep expertise and experience in all aspects of cybersecurity.
The Trustmi founders met in 2018 while working at Cynet and decided to join forces and combine their experience to build a solution that helps companies everywhere to protect their bottom line by ensuring their business payments go to the right place.

“Over the years, I have been exposed to many fraud events involving millions of dollars, where I had to deal with real-time hacks,” said Gabay about Trustmi. “There I deeply understood the problem of securing payments and discovered that, in many cases, the blame falls on the junior employee who carries out the process of transferring the funds, even though they do not have the tools to deal with it. Our ambition as a company is to protect the bottom line of organizations – their money, alongside our goal to lead and build the global payment security market, and raise public awareness of the issue. Today we are saving our customers millions of dollars by preventing fraud and streamlining the money transfer processes.”



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