Tel Aviv at sunset, Israel
Israel High Tech Scene August 5 – 11
New Startups / VC Funding
IVIX Raises $49 Million and Tytocare Raises $205 Million
Ivix, an Israeli fintech startup that offers solutions for catching tax cheats, raised $12.5 million in a Series A funding round led by Insight Partners. The company’s total funding to date is now $25.5 million. And TytoCare, an Israeli startup that develops and markets remote diagnostic devices for telehealth, completed a $49 million financing round. TytoCare has now raised a total of $205 million to date.
Founded in 2012 by CEO Dedi Gilad and COO Ofer Tzadik, TytoCare works with leading health plans and providers to roll out Home Smart Clinic solutions… Read More Here
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WINT Raises $35 Million for AI Water Management Solution
WINT Water Intelligence, an Israeli startup that uses AI for water management and leak-prevention solutions for construction, commercial, residential and industrial applications, raised $35 million in a Series C funding round co-led by Inven Capital, a leading European climate tech fund and global software investor Insight Partners, which also led WINT’s B round.
It’s about water conservation. And these days, with climate change… Read More Here
Sweet Security and SphereX – Two New Israeli Security Startups – Make Initial Raises
SphereX, an Israeli cybersecurity startup, raised $8.2 million in Seed funding and launched SphereX Protect, the company’s advanced security solution for smart contracts. And Sweet Security, which was founded by three former senior ranking IDF officers who served in intelligence positions, raised $12 million in Seed funding and also launched its cloud runtime security suite.
SphereX boasts that its smart contract is backed by powerful ML engines and behavioral analysis of the protocol and is deployed and integrated into its customers’ protocols. SphereX blocks 0-day exploits and malicious transactions… Read More Here
Gomboc.Ai Raises $5.2 Million for AI-Powered Cloud Infrastructure
Gomboc.ai, an Israeli startup that offers a deterministic AI-powered cloud infrastructure remediation platform, raised $5.2 million in a seed funding round led by led by Glilot Capital and Hetz Ventures.
Co-Founded in 2022 by CEO Ian Amit and CTO Jonathan Desrocher, Gomboc.ai boasts that the company solves cloud infrastructure security policy deviations by providing tailored remediations to the IaC (Infrastructure as Code) while insisting… Read More Here
IPOS and Unicorns
Innoviz Raises $65 Million from New Offering, But Value Drops
Innoviz Technologies, an Israeli provider of high-performance, automotive-grade LiDAR sensors and perception software, raised $65 million in a new upsized underwritten secondary public offering of 111.84 million shares that was concluded at a price of $2.50 per share. Unfortunately for the company, this represented a 20% cut in value.
So, what caused the drop?
The Motley Fool explained that first, Innoviz offered the new shares at a discount and second, the added shares diluted the overall share pool… Read More Here
Mergers and Acquisitions
Check Point Buys Former Unicorn Perimeter 81 for $490 Million
Check Point, Israel’s most renowned cybersecurity firm, has acquired Israeli cybersecurity startup Perimeter 81 for $490 million. Unfortunately, for Perimeter, until recently the firm had a billion plus valuation and the coveted unicorn status.
Perimeter 81 hit unicorn status in June of 2022 after raising $100 million in a Series C round of funding. But, as they say, easy come, easy go… Read More Here
Israel’s Laminar Bought by Rubrik for $250 Million
Laminar Security, an Israeli startup that provides public cloud data security services, was bought out by the American data security company Rubrik. The specifics of the deal have not yet been revealed, but reports indicate that the purchase price could be as much as $250 million.
Rubrik boasted that the combination will create the industry’s “first complete cyber resilience offering of its kind” by bringing together cyber recovery… Read More Here
Other Business Stories
Ukraine Imposes Sanctions on Israeli-Georgian Tycoon Mikhael Mirilshvili
In the recent actions taken by the Ukrainian government, Israeli-Georgian tycoon Mikhael Mirilshvili, known to have connections with Prime Minister Benjamin Netanyahu and other prominent politicians, has been sanctioned. Ukraine is appealing to other nations to support its move by applying similar sanctions on the billionaire.
The Ukrainian government decided to sanction Mirilshvili in February this year. This decision was informed by intelligence from the… Read More Here
Billionaire Arthur Dantchik Distances Himself from Benjamin Netanyahu’s Judicial Reforms
Jewish-American billionaire Arthur Dantchik is no longer on board with the controversial judicial reforms being promoted by the government of Prime Minister Benjamin Netanyahu. In a statement released to Israel’s Calcalist, the billionaire said he would no longer be giving his financial support to The Kohelet Policy Forum, a political organization that supports the policies of Netanyahu’s government.
Benjamin Netanyahu maintains that its judicial reforms are intended to restore a “balance” to Israel’s democracy. He feels that for decades Israel’s courts… Read More Here
New Grain of Rice Sized Lab Grown Heart Could End Animal Medical Testing
Scientists from the Hebrew University in Jerusalem and the Israeli firm Tissue Dynamics have miraculously succeeded in growing a micro-heart – the size of a grain of rice – from stem cells. The scientists described this as a “remarkable breakthrough” in that the tiny heart can be used for medical research.
This self-paced multi-chambered human heart model has sensors that reveal a new mechanism of cardiac arrhythmia not found in small animals… Read More Here
IDF and HomeBioGas Team Up To Turn Garbage Into Energy
The Israel Ministry of Defense and the IDF are working together with Israeli greentech startup HomeBiogas on a new initiative to transform organic waste on IDF bases into energy. A ceremony marking the program was held at the first IDF base to take part in it, Glilot, in central Israel where what was described as a groundbreaking system that breaks down kitchen waste and converts it into biogas, a form of renewable energy produced from… Read More Here
